The quick explanation of credit card tokenization is that it is the process where a “phrase” (or token) is used to represent credit card information rather than the credit card information itself. This is a technique used by software and payment systems to enhance security. Tokenization has become very popular in the implementation of technology […]
Around the year 2020, the usage of contactless payments drastically increased as customers and businesses looked for ways to minimize physical handling of cash and payment terminals such as PIN pads. In Canada and U.S., the use of contactless payments increased by 150% within a one year period. It is growing very fast because of […]
Both debit cards and credit cards are very popular in Canada. Credit cards are currently the most popular transaction method in Canada, accounting for 31% of all transactions. Debit cards are close behind accounting for 28% of all transactions. Historically, cash transactions have been the most popular, however, cash has been falling drastically with people […]
Implementing a hosted payment page is a simple way to offer your customers a safe and convenient way to make online payments while keeping your website secure. Sometimes people refer to hosted payment pages as checkout pages. Either way, they make it easy to accept credit cards online. What is a Hosted Payment Page A hosted […]
When you accept credit cards as a merchant, batches and settlement are important processes that occur daily to get your funds. When a customer pays with a credit card, banks communicate in real-time, but funds do not transfer in real-time. A batch and settlement process needs to happen to receive your funds. What is a Batch […]
Any business that has revenue over $100,000 per year and accepts credit cards almost certainly has a merchant account. If you don’t have a merchant account and your business processes more than $100,000 per year in credit cards, this article will give you an overview on how to get one. For the smaller businesses with […]
To get a merchant account, you can go to an acquirer or an ISO (Independent Sales Organization). In summary, acquirers run the transaction processing technology and they partner with ISOs to do the sales, service, and provide other value-add services. Most merchant accounts in Canada and USA are sold by ISOs. Approximately 80% of merchant […]
Small businesses are the foundation of the Canadian economy. Most of the 2.5 million businesses in Canada are small businesses. This is one reason Clearly Payments puts such focus on small business and helping them get the best credit card processing with exceptional customer service and great pricing. What is a small business in payment […]
There is a lot of confusion surrounding credit card processing and merchant accounts. Some of the most common areas of confusion are who sells the payment services, what companies process the transactions, and how the fees and pricing structures work. It is not critical for businesses to accept credit cards, but some merchants prefer accepting […]
PCI is about keeping payments and data secure. The poor handling of payment data and credit card details are a main cause for fraud in payments. The better your business is with making credit card transactions safe, the more trusted your business will be. The more trusted your business is, the more successful your business […]
