Category: Popular Posts

The payments landscape is not only one of the most dynamic, characterized by constant change over the past years, but it is also steadily expanding its reach and breadth in a remarkably speedy way. Let’s take a look.  Ever-changing customer requirements, new service offerings, innovative propositions, new entrants, consolidation, novel business models and shifting dynamics…

Payment Gateway a payment gateway means just a technological platform, while a payment aggregator usually means a company, that conducts management of its portfolio of sub-merchants (including onboarding, risk monitoring, and subsequent funding). Payment Gateways  encrypts  the details you enter about your credit or debit card while making a purchase. PG identify the payment processors…

Dynamic Currency Conversion(DCCDynamic Currency Conversion (DCC) Dynamic Currency Conversion (DCC) or Cardholder Preferred Currency (CPC) Allows shoppers to convert the transaction amount to their card’s default currency when making a payment abroad. The shopper is presented with the choice to convert the transaction amount, when the transaction is in a currency other than the default configured on…

Merchant Category CodeMCC MCCs are determined by card networks like Visa, MasterCard and American Express, who use it to decide how much to charge the businesses for accepting credit card payments (interchange fee). MCC Codes (or merchant category codes) are assigned to merchant accounts during the set up process and are used to differentiate between types…

A payment service provider (PSP) is the broad industry term used to describe companies that provide a turnkey solution to allow merchants to accept payments online without having to set up their own dedicated merchant account. PSPs operate a single merchant account and offer individual merchants sub accounts which makes it very quick to onboard…

What are credit card networks? The role of a card network is to facilitate transactions between merchants and card issuers. To do this, card networks create virtual payment infrastructures and charge merchants interchange fees for processing consumers’ credit or debit card transactions. The four major credit card networks are Mastercard, Visa, American Express and Discover.…

Coverage: When you evaluate DCCDynamic Currency Conversion (DCC) Dynamic Currency Conversion (DCC) or Cardholder Preferred Currency (CPC) Allows shoppers to convert the transaction amount to their card’s default currency when making a payment abroad. The shopper is presented with the choice to convert the transaction amount, when the transaction is in a currency other than the default…

Credit card declines can happen for a lot of different reasons—bad timing, compatibility issues, bad communication—even fraud. But the trick to both declines and rejections is knowing when to try again and when to let it go. A credit card decline is when, for whatever reason, a credit card payment cannot be processed. It can…

The payment card industry (PCI) denotes the debit, credit, prepaid, e-purse/e-wallet, ATM, and POS cards and associated businesses. Card Schemes: The card schemes come in two main varieties – a three-party scheme (or closed scheme) or a four-party scheme (or open scheme). Three-party scheme A three-party scheme consists of three main parties  In this model,…