article thumbnail

Modernizing Government Payment Systems for Efficiency and Trust

Clearly Payments

Compliance Issues: Governments must adhere to strict regulations like PCI DSS, which can be difficult with aging systems. Regulatory Compliance: Modern platforms come pre-configured to meet standards like PCI DSS , GDPR, and local regulations.

article thumbnail

WorldFirst Rolls Out Mastercard-Enabled Virtual Card for SME Global Payments

Fintech News

Security features include Payment Card Industry Data Security Standard (PCI DSS) certification, transaction verifications like 3DS/AVS, and user-set spending limits. Support for mobile payment platforms like Apple Pay and Google Pay is anticipated in the coming months.

Visa 120
article thumbnail

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

Stax

Opt for gateways that support diverse payment options like credit/debit cards, digital wallets, and international payments to accommodate customer preferences. Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions.

article thumbnail

How modern payments processing has changed: In conversation with BPC

The Payments Association

A second wave of change occurred a few years ago related to COVID, where not only did we see the rise of digital banks, but payments also had to go fully digital.”

Process 100
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. Stage 1: Authorization Authorization is the initial step where the transaction is approved or declined.

article thumbnail

Understanding the Nature of Payment Gateway Integration For Your Mobile App

Stax

In this article, we will cover the ins and outs of payment gateways, why it’s wise to integrate one with your app, and how to actually do it. Why Would Companies or Developers Want a Mobile App Payment Gateway? Q: What features should Mobile Payment Gateway integrations possess?

article thumbnail

Encryption vs. Tokenization for Banking and Payment Professionals

Fi911

Compliance Considerations Encryption must be managed carefully to comply with PCI DSS, GDPR, and similar frameworks. Mobile Payments : Ensuring secure transactions in apps like Venmo or Google Pay. Tokenization data is irreversible and cannot be traced back to the original value without accessing the token vault.