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Everything You Need to Know About Credit Card Processing

Stax

Here are the inside details about what defines a payment solutions provider, how processing works, the credit card processing fees , risks, and more. TL;DR There are several parties involved in credit card processing. They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor.

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Cashless Payments Eroding Cash’s Dominance

PYMNTS

That’s according to new data from Retail Banking Research , which it rolled out Wednesday (Jan. The firm found that 471 billion cashless payments were made around the world in 2015, up 52 percent since 2011. Credit transfers and direct debits, alternatives to cash, are also enjoying steady growth, Retail Banking Research found.

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Online Purchases Rule The UK Commerce Arena

PYMNTS

As the popularity of online shopping continues to rise, it comes as no surprise that there has also been an uptick in card-not-present purchases. Worldwide, eCommerce card payments generated $2.7 trillion in 2015, representing a 26 percent growth rate that year. billion purchases were made by credit and debit cards.

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The Buyers: UK Shoppers’ eCommerce Habits

PYMNTS

Between 2015 and 2016, U.K. Stemming from Interactive Media in Retail Group’s research, eCommerce sales in the U.K. have doubled the amount of cashless payments within the past decade due to the increased use of debit and credit cards, according to the UK Cards Association (UKCA) research we shared last week.

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CFPB Ruling Says Long Live The Trial Bar

PYMNTS

” Brian Tate, president and CEO of the Network Branded Prepaid Card Association (NBPCA), had a similar reaction. The referenced studies and research harken back to 2015 when the CFPB initially proposed its rules.

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