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

Stax

JANUARY 15, 2024

PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. Enter the PCI DSS compliance. It’s a global framework established by major payment card networks, including Visa, Mastercard, American Express, Discover, and JCB International.

Credit Cards

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

JANUARY 16, 2024

What are Interchange Fees in Canada Interchange fees are charges levied by credit card issuers (such as Visa, Mastercard, and others) to merchants for accepting and processing electronic payments. These fees serve as compensation for the risks and costs associated with facilitating electronic transactions.

PCI DSS

Stax

MARCH 15, 2024

The primary security standards that payment systems typically adhere to include: Payment Card Industry Data Security Standard (PCI DSS): PCI DSS sets forth requirements for securing payment card data, including encryption, access control, network monitoring, and regular security testing.

Process

Clearly Payments

FEBRUARY 7, 2024

Chargeback Rate The chargeback rate measures the percentage of transactions that result in chargebacks, which occur when customers dispute a transaction with their card issuer. High chargeback rates can negatively impact merchants by increasing costs, damaging reputation, and affecting payment processing eligibility.

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

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. That’s why electronic payments information is first sent to an acquiring bank for verification with the customer’s issuing bank and card issuer before the transaction is authorized.

Payment Service Provider (PSP)

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

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

Clearly Payments

FEBRUARY 12, 2024

Moreover, stringent data protection and privacy regulations, such as the GDPR and PCI DSS , govern how Visa and Mastercard handle sensitive financial data. Authorities implement regulations to ensure fair pricing practices and protect merchants and consumers from excessive fees.

Visa

EBizCharge

AUGUST 12, 2024

When navigating the realm of credit card processing, it’s crucial to distinguish between merchant acquirers (acquiring banks), card issuers, and payment processors, as each plays a distinct role in the card transaction ecosystem. Card issuers are banks or financial institutions that issue credit cards to consumers.

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

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. AVS does not prevent all types of fraud, but it’s a good way to detect suspicious transactions.

Credit Cards

Exact Payments

AUGUST 23, 2023

Reputable PFaaS vendors will handle these in the background, allowing SaaS companies and ISVs to improve their products and better serve their customers.

Embedded Payments

Stax

MAY 7, 2024

For example, the interchange fees for online transactions may be higher due to the higher risk of credit card fraud. Interchange fees are set by credit card issuers, such as Bank of America, Citi, or Chase, and are adjusted every year in April and October. Can merchants pass credit card processing fees to customers?

Credit Cards

The Fintech Times

MARCH 6, 2024

Her journey began on the issuing side, primarily focusing on the Discover Card issuer team, before a transition to the network division, where she has played a role in managing various digital products, such as overseeing tokenisation efforts and the development of the tokenisation platform at Discover ® Global Network.

Digital Payments

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. From there, the bank will approve or decline the transaction.

Payment Gateways

EBizCharge

AUGUST 30, 2024

Breakdown of credit card processing fees Credit card processing fees are charged to merchants for each credit card transaction processed. Legal considerations and compliance Merchants must efficiently navigate legal considerations and compliance related to credit card processing to ensure they actively meet these requirements.

Credit Cards

The Fintech Times

FEBRUARY 27, 2024

Merchants, especially smaller or micro-merchants, don’t want the hassle of hardware that’s time-consuming to install, expensive to maintain, and difficult to upgrade every time a new payment method or industry standard emerges, like PCI DSS.

Consumer Protection

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

Stax

MARCH 14, 2024

For businesses looking at paying with a credit card, there are often reward schemes and low-interest rates designed to attract businesses with special B2B credit card solutions offered by Visa, Mastercard, and most other card issuers.

B2B

Payment Savvy

JULY 12, 2024

Each transaction incurs fees the card issuer sets, varying based on the card type and associated risks. Debit cards typically carry lower fees due to lower payment risk, whereas credit cards involve higher fees to offset potential defaults. Robust Security Measures Security is paramount in online transactions.

Debit Card

EBizCharge

NOVEMBER 22, 2024

Knowing the reasons behind credit card holds can help you quickly avoid or resolve these holds to deliver a better user experience and maintain a healthy credit score. Here are nine reasons a credit card hold may be enforced: Overdue payments: Overdue payments can signal to credit card issuers that you may struggle to repay borrowed funds.

Credit Cards

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