Fintech News
FEBRUARY 2, 2025
Card issuers need for speed exists on several levels, and we at OpenWay see this firsthand, since our Way4 card management software is used by top banks, processors and fintechs around the world. The good old Need for Speed game is played in many industries, including card issuance. Indeed, rapid product development remains a top priority.
EBizCharge
NOVEMBER 27, 2024
An Internet merchant account (IMA) is a type of banking account that allows online businesses to accept credit and debit card payments. It serves as an intermediary between a merchant and a payment processor, facilitating the transfer of funds during online transactions. This integration ensures a seamless and secure transaction flow.
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Clearly Payments
FEBRUARY 5, 2025
Credit cards are used by billions of people for everyday transactions, allowing them to make purchases without needing immediate cash. However, behind every credit card swipe, there is a vast network of financial institutions, payment processors, and businesses that profit from the system. In 2023, Americans charged $6.22
PYMNTS
NOVEMBER 10, 2020
Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. An October credit card frictions report by PAAY and PYMNTS indicates that among the most typical reasons for a card decline is due to verification issues like legitimacy or credit limits.
Fi911
SEPTEMBER 12, 2024
It arises when a specific sum of money is temporarily reserved on the cardholder’s account, leading the seller to unknowingly hit the card’s credit limit. Temporary Hold This scenario can be somewhat complex. Temporary holds are often used by businesses such as hotels, car rental agencies, and entertainment providers.
Clearly Payments
APRIL 3, 2024
When a customer initiates a payment, the payment processor verifies the transaction details, such as the cardholder’s information and the availability of funds. Once verified, the processor authorizes the transaction and communicates this approval to both the merchant and the customer. Visa, Mastercard).
Fi911
JULY 8, 2024
Bust Out Fraud Bust out fraud is a method where fraudsters build up a credit profile over time, only to max out the credit limits on various accounts before disappearing. Collaboration between merchants, payment processors, issuers, and law enforcement agencies is crucial to staying ahead of ever-evolving fraud tactics.
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