Remove Fraud Detection Remove PCI DSS Remove Point-of-Sale (POS)
article thumbnail

The Anatomy of a Credit Card Transaction

Clearly Payments

It involves the following process: Cardholder Initiates Payment : The cardholder presents their card at the point-of-sale (POS) terminal , online checkout, or mobile payment system. Fraud Detection Reports : Analyze suspicious transactions using AI-driven fraud detection systems.

article thumbnail

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

Stax

Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions. Its a digital evolution of the conventional point-of-sale (POS) terminal. A physical POS terminal requires customers to insert, swipe, or tap their cards on the machine.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Stax

It links the merchants eCommerce store or point of sale (POS) system and the financial networks involved. It authorizes or declines payments based on available funds and fraud checks. 3D Secure (3DS) authentication and AI-powered fraud detection add extra security layers.

Process 88
article thumbnail

The Different Ways a Business Can Accept Credit Cards

Clearly Payments

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. Brick-and-Mortar Retail Stores: If you operate a physical store, a traditional point-of-sale (POS) system is often the most efficient choice.

article thumbnail

Picking The Best Merchant Services Provider for your Sage Software

EBizCharge

Point-of-sale (POS) system: A POS system is a combination of hardware and software (physical or virtual terminals) that businesses use to accept transactions, manage sales, and track inventory.

article thumbnail

What is an Online Terminal and Why Do Merchants Need One?

Stax

Secure Transactions: Online terminals incorporate security protocols like SSL encryption, tokenization, and Payment Card Industry Data Security Standards (PCI DSS) compliance. Adherence to security protocols, such as PCI DSS compliance is a must. See to it that you have all your security bases covered.

PCI DSS 88
article thumbnail

Challenges in the card payment industry—Navigating a rapidly changing landscape

The Payments Association

Card-not-present (CNP) transactions, where the physical card is not involved (as in e-commerce), are particularly susceptible to fraud. In response, payment providers must invest heavily in advanced fraud detection tools like machine learning and artificial intelligence to quickly detect and prevent fraudulent activity.