Stax

MARCH 18, 2025

A typical payment processing procedure involves multiple parties, including the merchant, customer, payment processor, payment gateway, issuing bank, acquiring bank, and card networks. The processor facilitates the transaction by communicating with the payment gateway, issuing bank, and acquiring bank.

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Process Payment APIs and Integration Processors Online and Mobile Banking 88

EBizCharge

AUGUST 12, 2024

Intermediaries like merchant acquirers that facilitate these digital transactions play a crucial role. This article will outline a merchant acquirer’s specific functions and obligations and what businesses should consider when selecting one. What is a merchant acquirer? If approved, the merchant completes the sale.

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Stax

FEBRUARY 15, 2024

FIS Global reports that in Norway, Sweden, and other Scandinavian countries, more than 90% of transactions processed at point-of-sale (POS) in 2023 were cashless. ISVs ensure software solutions meet standards like PCI DSS (Payment Card Industry Data Security Standard).

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Stax

APRIL 30, 2024

TL;DR Merchant processing ensures that all entities, such as the issuing bank, the acquiring bank, and the card company, work cohesively to facilitate payments between a customer and a business. These entities include the issuing bank, the acquiring bank, the card or digital payment company, and the payment processor.

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Payment Savvy

JULY 3, 2024

The cardholder swipes, dips, or taps their debit card at the merchant’s physical point of sale (POS) terminal. Once the card is swiped, tapped, or details entered, the merchant’s POS system or payment gateway captures the transaction details. This information is then sent securely to the acquiring bank.

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Segpay

FEBRUARY 24, 2025

A Payment Gateway is the digital equivalent of a point-of-sale (POS) terminal in a physical store. A payment gateway is ideal for businesses that want to keep control over their payment stack and work with separate processors or acquiring banks. The issuing bank transfers funds to the acquiring bank.

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Stax

SEPTEMBER 17, 2024

If you’re handling cardholder data, you’ll need to think about aspects such as payment processor partners, PCI DSS compliance, and point of sale transactions in addition to various payment methods as credit card transactions and general commerce continue to evolve. Card networks (like Visa, Mastercard, etc.)

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Clearly Payments

APRIL 3, 2024

Transaction Initiation Customer Payment: The process begins when a customer makes a payment using a credit/debit card or other payment methods at a merchant’s point of sale (POS) system or online checkout. Here’s a simplified overview of how it works: 1. This usually occurs within a few days.

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Process Processors Online and Mobile Banking Payments 59

EBizCharge

MAY 20, 2024

The saved card feature follows Payment Card Industry Data Security Standards (PCI DSS) to ensure data security while offering a convenient option for customers who prefer to use the same payment method for recurring transactions. Saved cards can facilitate smoother, faster payments and improve customer loyalty.

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Stax

DECEMBER 20, 2023

This could be a traditional credit card terminal, a point-of-sale (POS) system, or a mobile card reader that works with smartphones or tablets. Once approved, you will need to acquire the necessary hardware (like credit card terminals or mobile card readers) and software for processing transactions.

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Clearly Payments

DECEMBER 5, 2023

This comprehensive guide aims to unravel the complexities and distinctions among three primary types of payment processors: Acquirers, Independent Sales Organizations (ISOs), and Aggregators. Acquirers or Acquiring Banks Acquirers, also known as acquiring banks , form the backbone of the payment processing ecosystem.

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Processors ISOs Payment APIs and Integration Payments 52

Evolve Payment

MARCH 21, 2024

Between the alphabet soup of acronyms (PCI? Gateways securely pass sensitive customer data from your website or point-of-sale (POS) system to your payment processor. Issuing Banks & Acquiring Banks When your customer uses their credit card to pay you, two banks get involved: the issuing bank and the acquiring bank.

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Process Gateways Processors Credit Cards 52

PayHawk

APRIL 18, 2023

A Acquirer The financial institution that processes payments on behalf of merchants. Clearing The process of exchanging payment information between the card issuer and the acquirer to settle a transaction. Discount Rate The percentage of each transaction that the merchant must pay the acquirer for processing the transaction.

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EBizCharge

APRIL 25, 2024

Apply for a merchant account A merchant account is typically set up through a payment processor or acquiring bank. This account serves as an intermediary between the business and the payment processor or acquiring bank, facilitating the secure processing of credit and debit card transactions, among other forms of payment.

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