In the intricate landscape of payment processing, merchants are confronted with a choice between three types of payment processors: Acquirers, Independent Sales Organizations (ISOs or MSPs), and Aggregators (PSPs or PayFacs). Understanding the distinctive roles each plays is important for businesses seeking an optimal payment processing solution. This article covers the differences between Acquirers, ISOs, […]
Software and hardware tech is growing and so are consumer habits and preferences. The way we handle financial transactions and overall fintech has undergone a remarkable transformation. An unmistakable trend in this transformation is the declining use of cash and the concurrent surge in credit card usage. This shift, driven by a myriad of factors […]
Credit cards are one of the most popular and convenient forms of payment worldwide. Over the past few decades, we have witnessed a remarkable surge in credit card usage, revolutionizing the way individuals and businesses conduct transactions. Here we explore the growth of the credit card industry, the implications, and credit card market statistics. Credit […]
You cannot talk about payments without talking about digital payments. Cash and checks are declining in use while digital payment forms are skyrocketing. The number of checks being written is dropping by 1.8 billion a year, and at that rate, checks would go away entirely by 2026. Checks may stay a little longer than that, […]
What is Moneris? Moneris is a large payment processor and acquirer based in Canada. It offers the full solution for businesses to accept credit cards and debit cards. This payments industry overview will give you more information on how payment processors and acquirers work. Is Moneris the largest payment processor in Canada? Yes, Moneris is the […]
The companies that sit at the top of the pack for credit card processors change over time so it’s important to remain updated. Payment processing companies in Canada are known by many names: payment processors, merchant acquirers, payment gateways, and the list continues. This list focuses on payment companies that work directly with merchants to […]
It all Started with the Barter System People used to consider their wealth in terms of possessions (I suppose many still do). This wealth was primarily in the form of cattle, land, grain, housing and other physical assets. In order to purchase something by bartering, you would essentially trade. For example, you would trade cattle […]
When you’re a business, it’s key that your payment processing system is quick, simple, and secure. Your system needs to provide the ways that your customers want to pay. About 25% of people in Canada and USA have an iPhone. Those iPhone users are very active at using Apple Pay. Apple Pay was released in 2014 […]
Payment processing companies provide the full service to allow merchants to accept credit cards or debit cards. Some of the more advanced payment processing companies allow processing with multiple currencies, cryptocurrencies, PayPal, and other progressive payment methods. Payment processing companies in the value chain There are many names that payment processors are sometimes called generically […]
Payment processing is very geographical. Each country has its own regulations with their own banking system. In Canada, any payment processor that offers a merchant account needs to be approved by the card brands they offer in that country, such as Visa, MasterCard, and AMEX. In addition, each payment processor needs to have a sponsoring […]
