Remove Facilitators Remove Fraud Detection Remove PCI DSS
article thumbnail

Payment orchestration: Beyond transaction routing

The Payments Association

By consolidating payment data from multiple providers, these platforms offer merchants a comprehensive view of payment performance, customer behaviour, and fraud trends. This visibility enables data-driven decision-making and facilitates effective troubleshooting of issues like high decline rates or chargebacks.

article thumbnail

The Ultimate Guide to Ecommerce Payment Solutions

Stax

Businesses using self-hosted gateways must handle data security measures and comply with industry standards like PCI DSS. This requires the merchant to become a registered payment facilitator or PayFac. Payment processors that comply with this regulation protect businesses from data breaches and credit card fraud.

article thumbnail

What is a BIN in Payment Processing

Clearly Payments

This routing allows the processor to request authorization for the transaction from the issuing bank, which then approves or denies it based on factors like available funds and fraud checks. Security and Fraud Detection : The BIN can provide valuable data points that help prevent fraud.

Process 104
article thumbnail

The Anatomy of a Credit Card Transaction

Clearly Payments

Payment Processor Facilitates communication between acquiring and issuing banks. PCI DSS Compliance : Merchants and payment providers must adhere to Payment Card Industry Data Security Standards (PCI DSS) to protect cardholder data. Geolocation and behavioral analytics enhance fraud detection.

article thumbnail

The Ultimate Guide to Online Payment Processing

Stax

Encryption and transfer of payment information The payment gateway that underpins your checkout page will now encrypt the customers payment details as stipulated by industry data security regulations like PCI DSS (Payment Card Industry Data Security Standard) before transferring the data to your payment processor.

article thumbnail

What is a Payment Processing System and How Does It Work?

Stax

A payment processing system is a technology that facilitates the secure transfer of funds from a customer to a merchant. The processor facilitates the transaction by communicating with the payment gateway, issuing bank, and acquiring bank. 3D Secure (3DS) authentication and AI-powered fraud detection add extra security layers.

Process 88
article thumbnail

Which Wallet Solution Matches Your Business Model: eWallet or Digital Wallet?

Finextra

It simply facilitates transactions by linking to your customers existing financial instruments, like bank accounts or credit/debit cards. What you must consider Check if the provider offers real-time reporting, fraud detection tools, and regulatory support. What is a digital wallet?

eWallet 52