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How are Interchange Fees Calculated?

Stax

Credit and debit cards have become the preferred payment methods for many, and it isn’t hard to see why. In 2023, 27% of all point-of-sale (POS) payments were made using credit cards while 23% were made with debit cards. This is a win-win situation for issuing banks and credit card payment networks.

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What is a BIN in Payment Processing

Clearly Payments

In payment processing, one component of the payment processing tech stack involving credit or debit cards is the Bank Identification Number or BIN. For instance, it indicates the issuing bank, card type (credit, debit, or prepaid), and sometimes the country of issuance.

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Mastercard Gets Nod To Join China’s $27T Payments Market

PYMNTS

China’s central bank gave Mastercard the go-ahead on Tuesday (Feb. 11) to set up a bank card clearing business, granting access to a $27 trillion payments market, according to reports. . The central bank said Mastercard and its partner, NetsUnion Clearing Corp. As part of China’s trade deal with the U.S.,

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Samsung To Roll Out Pay Card With Mastercard, Curve

PYMNTS

plans to offer a Samsung Pay Card that will give customers “a simple and flexible way to control their money,” the company said in a Wednesday (June 24) press release. For the launch, Samsung is linking up with Mastercard and FinTech Curve. Samsung Electronics Co.

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What Is Debit Card Processing & How Does It Work?

Payment Savvy

Debit cards have become an indispensable part of our financial lives, with the majority of American adults, spanning all demographics, now possessing at least one debit card. Every merchant should prioritize taking the time to understand debit card processing to streamline operations and enhance customer satisfaction.

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Mastercard Enables Contactless Payments At TriMet

PYMNTS

Commuters in Portland, Oregon and Vancouver, Washington can now add a digital Hop Fastpass card to their iPhone or Apple Watch, thanks to an alliance between Mastercard and Apple. merchants and acceptance at Mastercard , said in the announcement.

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Mastercard Enables Tap To Pay For Miami Commuters

PYMNTS

Mastercard is partnering with transportation solutions provider Cubic Transportation Systems, along with the Miami-Dade County Department of Transportation and Public Works (DTPW) to enable tap-and-go payments at Miami’s Metrorail stations, Mastercard said in a press release on Wednesday (Aug. merchants and acceptance, Mastercard.

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