The Payments Wikipedia

Independent Sales Organizations (ISO) act as intermediaries between merchants and their banks, essentially reselling the services of processors. In some cases, they might actually be banks: For example, Wells Fargo is a First Data ISO. As payment gateways, they ensure the secure transfer of the transaction data. They also service merchant bank accounts and might…

What is least-cost routing? Least-cost routing is where a merchant chooses to route a transaction to the lowest cost network for that transaction ‘Least-cost routing’ is sometimes also referred to as ‘tap and save’, ‘merchant choice routing’, ‘wave and save’, ‘lowest-cost routing’, ‘low-cost routing’, ‘merchant routing’, or ‘smart routing.’ However, these terms are not always…

Credit cards have made little headway, and even card companies’ dominance in debit card transaction processing is now under threat. The Indonesian central bank has debuted its own payment network, called the National Payment Gateway, and requires domestic banks to use the new network for local debit card transactions. Banks are in the process of converting Visa- and…

Authorization Time Limits: Explained Authorization time limits will vary by transaction type and by one’s MCCMCC 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…

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…

Independent Sales Organizations (ISO) act as intermediaries between merchants and their banks, essentially reselling the services of processors. In some cases, they might actually be banks: For example, Wells Fargo is a First Data ISO. As payment gateways, they ensure the secure transfer of the transaction data. They also service merchant bank accounts and might…

What is least-cost routing? Least-cost routing is where a merchant chooses to route a transaction to the lowest cost network for that transaction ‘Least-cost routing’ is sometimes also referred to as ‘tap and save’, ‘merchant choice routing’, ‘wave and save’, ‘lowest-cost routing’, ‘low-cost routing’, ‘merchant routing’, or ‘smart routing.’ However, these terms are not always…

Credit cards have made little headway, and even card companies’ dominance in debit card transaction processing is now under threat. The Indonesian central bank has debuted its own payment network, called the National Payment Gateway, and requires domestic banks to use the new network for local debit card transactions. Banks are in the process of converting Visa- and…

Authorization Time Limits: Explained Authorization time limits will vary by transaction type and by one’s MCCMCC 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…

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…