Remove Card Association Remove Encryption Remove Visa
article thumbnail

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.

article thumbnail

Looking for the Best Payment Gateway? Here’s How to Choose the Right One

Stax

Opt for gateways that support diverse payment options like credit/debit cards, digital wallets, and international payments to accommodate customer preferences. Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions. Learn More What is a Payment Gateway?

article thumbnail

Payment Security: Everything You Need to Know About Secure Payments

Stax

In 2023, the cost of fraud to online businesses was $48 billion globally, according to Mastercard. It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place. Let’s talk about the “F” word—fraud.

PCI DSS 88
article thumbnail

An Overview of the Payments Ecosystem in 2024

Clearly Payments

From independent sales organizations (ISOs) and payment facilitators (PayFacs) to acquirers, card associations, and beyond, each entity plays a unique role in shaping the payment industry. ISOs are registered with Visa and MasterCard and must navigate regulatory complexities and compete with direct access providers.

article thumbnail

Everything You Need to Know About PCI Compliance for Credit Card Processing

Stax

These include penalties, legal repurcussions, and the revocation of credit card processing privileges. PCI DSS stands for “Payment Card Industry Data Security Standards.” Additionally, sensitive authentication data must never be stored after authorization, even if encrypted. What is PCI Compliance?

article thumbnail

The Complete Guide to PCI Compliance

Evolve Payment

Table of Contents PCI Compliance in a Nutshell PCI compliance, also known as the Payment Card Industry Data Security Standard , or PCI-DSS, is an important standard that major credit card companies like Visa and Mastercard have adopted to protect themselves and their merchants from the risks associated with exposed cardholder data.

PCI DSS 94
article thumbnail

Why PCI Compliance is Critical for Businesses

Exact Payments

The Payment Card Industry Data Security Standard (PCI DSS) plays a crucial role in protecting cardholder data for businesses that accept credit card payments. This set of security guidelines is mandated by major credit card associations such as Visa, Mastercard, American Express, and Discover.

PCI DSS 52