Stax

OCTOBER 14, 2024

Additionally, look for a processor that offers flexibility in accepting various payment methods, such as credit and debit cards, mobile wallets like Apple Pay and Google Pay, and ACH transfers, to accommodate customer preferences and provide a convenient payment experience. Interchange Plus Pricing A small fixed fee (between $0.10

Processors

Clearly Payments

JANUARY 12, 2024

Advise them of the potential fraud and instruct them on the steps they should take, such as contacting their card issuer to report the incident and potentially canceling their affected cards. Cooperate with Card Issuers Work closely with the credit card issuers of the affected credit cards.

Credit Cards

Clearly Payments

OCTOBER 22, 2024

This guide explains how a PIN functions in credit and debit card payments and its importance for merchants. A PIN is a four- to six-digit numerical code assigned to a credit or debit card by the card issuer or chosen by the cardholder. If the wrong PIN is entered too many times, the card may be temporarily blocked.

Debit Card

Clearly Payments

FEBRUARY 7, 2024

A high payment success rate indicates a smooth and reliable payment experience for customers, while a low success rate may point to technical issues, payment declines, or fraud attempts that require attention. Monitoring chargeback rates helps merchants identify potential fraud or disputes and implement preventive measures to mitigate risks.

Process

Clearly Payments

DECEMBER 2, 2024

This involves using a physical point-of-sale (POS) terminal to process card payments. How It Works The customer swipes, inserts, or taps their card on the POS device. The terminal communicates with the card issuer to approve the payment. How It Works Customers enter their card details during checkout.

Credit Cards

The Payments Association

OCTOBER 4, 2024

Traditional card issuers and networks must adapt or risk obsolescence. Technological disruption and innovation The rapid pace of technological change is both a challenge and an opportunity for the card payment industry. These regulations are designed to ensure security, protect consumer data, and promote fair competition.

Online and Mobile Banking

Stax

AUGUST 29, 2024

It will also communicate with the customer’s card issuer to verify the authenticity of the card details entered into your checkout page. PSPs share the credit costs for fraudulent transactions and chargebacks , which is why their platforms tend to come with advanced features for detecting and preventing fraudulent transactions.

Payment Service Provider (PSP)

PayHawk

APRIL 18, 2023

Address Verification Service (AVS) A fraud prevention tool that checks the billing address provided by the cardholder against the address on file with the card issuer. Annual Percentage Rate (APR) The annual interest rate charged by a credit card issuer on outstanding balances.

Process

The Fintech Times

FEBRUARY 27, 2024

In so many other industries such as agriculture and education, AI’s applications are still nascent, but it has already shown immense potential in payments, particularly in fraud prevention. “Digital fraud is the fastest-growing type of fraud.

Consumer Protection

Stax

DECEMBER 20, 2023

Use Address Verification Services (AVS) AVS is a fraud prevention measure for online and card-not-present transactions. It’ll compare the billing address provided in the transaction to the billing address on file with the card issuer.

Credit Cards

Stax

JANUARY 10, 2024

The exact rate can vary based on several factors, including the type of card used (debit or credit), the card brand (Visa, MasterCard, etc.), In addition to generating revenue for the card network, the purpose of credit card transaction fees is to cover operational costs and risk management. PCI compliance fees.

Credit Cards

Segpay

MARCH 6, 2025

Secure Payment Information Storage Once collected, payment details must be securely stored using encryption or tokenization methods to comply with Payment Card Industry Data Security Standards (PCI DSS). This prevents unauthorized access and enhances data security.

Process

EBizCharge

MAY 12, 2025

These standards include: Payment Card Industry Data Security Standards (PCI DSS): PCI Standards set foundational requirements for handling cardholder data, including encryption, secure networks, and security checks. International systems will likely be subject to additional standards and regulations.

Process