With the rapid growth of eCommerce and online transactions, ensuring the security of online payments has become crucial. In response to this challenge, the financial industry introduced 3D Secure, an authentication protocol designed to enhance the security of online transactions. This article explores the concept of 3D Secure, its benefits, and its impact on online […]
In the world of credit card processing, chargebacks are an inevitable reality that businesses must deal with. While chargebacks serve as a valuable consumer protection mechanism, they can have significant implications for businesses. To gain a deeper understanding of the impact of chargebacks, it is essential to explore chargeback statistics in credit card processing. By […]
A merchant account is a type of bank account that enables businesses to accept and process digital payments, such as credit card (Visa, MasterCard, etc) and debit card transactions. It serves as an intermediary between the business, the payment processor, and the customer’s bank. When a customer makes a payment using a credit card or […]
Underwriting is an essential part of payment processing. The underwriting process helps payment processors assess the risk associated with processing payments for a particular merchant. By evaluating factors such as the merchant’s business model, financial stability, transaction volume, and chargeback history, payment processors can determine the likelihood of fraud, disputes, or other issues that could […]
In our world of digital transactions, credit card fraud poses a threat to all merchants who accept credit cards. For protecting yourself from credit card fraud, knowledge is power. Credit card fraud is a pervasive form of financial crime that encompasses a wide range of illegal activities, from counterfeit card schemes to sophisticated online scams […]
Settlement in credit card processing refers to the final stage of a credit card transaction where funds are transferred from the cardholder’s account to the merchant’s account. It involves the reconciliation, verification, and transfer of funds to complete the transaction. Overview of the credit card settlement process The settlement process in credit card processing refers […]
In the world of online and card-not-present (CNP) transactions, security is of utmost importance. To combat fraudulent activities and provide an additional layer of protection, credit cards are equipped with a Card Verification Value (CVV) which also has other names, but is generally called the credit card security code. In this article, we will explore […]
A virtual terminal is a web-based tool that allows businesses to process credit and debit card payments remotely. It is a software (aka virtual) alternative to physical card terminals commonly found in brick-and-mortar stores. With a virtual terminal, businesses can accept payments from customers without the need for face-to-face interactions or the use of physical […]
Today’s financial and payments industry is getting much more advanced and complex. Preventing illicit activities such as money laundering, terrorist financing, and other fraudulent activities is of paramount importance. Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations have emerged as crucial safeguards within the payments industry. Here we explain AML and KYC in payments, their significance, […]
Subscription payment processing refers to the handling and management of recurring payments associated with subscription-based business models. It is sometimes called other names such as: Recurring Billing, Recurring Payments, Auto-Renewal Payments, SaaS Billing (Software-as-a-Service Billing), or Subscription Management. It involves the technology and systems required to process and collect payments from customers on a recurring […]
