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What is a BIN in Payment Processing

Clearly Payments

Although BINs play a critical role in how payments are processed and authenticated, they often go unnoticed by the average consumer or merchant. Card Verification and Authentication : BINs support the verification process by providing immediate access to the issuing institution’s information.

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How Financial Institutions Can Combat Business Email Compromise (BEC)

Fi911

Technical Defense Strategies Email authentication forms the foundation of BEC defense. Multi-factor authentication protects against credential compromise but must extend beyond employee accounts. Rather than relying on email for sensitive changes, institutions should implement vendor portals with proper authentication.

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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

Enhanced fraud detection extends to biometric authentication, a key element of payment security. This adaptability strengthens biometric authentication, adding protection for consumers and businesses. AI generates ‘fake’ data that mirrors potential fraud, training systems to recognize and counteract these evolving attacks.

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When do crypto firms need additional EU licences for stablecoin transfers? EBA issues guidance on the interplay between PSD2 and MiCA

The Payments Association

Streamlined PSD2 authorisation: Where additional PSD2 authorisation is required, NCAs are advised to streamline procedures and leverage information already provided under MiCA. PSD3 and the PSR are expected to be published in final form by the end of 2025 and will take effect 18 months after publication.

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What is a Payment Processing System and How Does It Work?

Stax

A typical payment processing procedure involves multiple parties, including the merchant, customer, payment processor, payment gateway, issuing bank, acquiring bank, and card networks. This means they authorize and complete transactions faster than manual processing procedures.

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Everything You Need to Know About Credit Card Processing

Stax

There are also risk holds—a routine procedure that most companies experience within the first few weeks of processing with a new merchant services account. Here are some ways to avoid chargebacks at your company, or at the very least, avoid excessive penalties from chargebacks: Follow proper credit card processing procedures.

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A Complete Guide to Securely Process Credit Cards in Sage 100

EBizCharge

Role-based access and user authentication: A Sage 100 integration enhances security by enabling role-based access controls for payment data, ensuring only authorized users can process transactions or view sensitive information. These measures help detect suspicious activity, prevent unauthorized transactions, and reduce chargeback risks.