Security
What Is a Secure Card Reader for PIN (SCRP)?
A Secure Card Reader for PIN (SCRP) is a multi-function card reader that turns any iOS, Android or Windows device into a payment terminal able to accept chip and contactless payments with PIN.
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"card processing"
311 articles found
ATM
What is a CDM (Cash Deposit Machine)?
CDM is short for Cash Deposit Machine. It refers to ATMs that allow you to deposit money directly into your account using a card. You can use CDM ATMs to carry out transactions on your account without visiting a branch.
Merchant & POS
What Is a POS (Point of Sale)?
Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.
Merchant & POS
What Is a Payment Facilitator (PF)?
A Payment Facilitator (PF) is a licensed payment institution that lets merchants accept card payments without applying to banks directly. Learn how it works.
Credit Card
Is Your Card Making Purchases Without Your Knowledge?
While reviewing your credit card statement, you suddenly notice a transaction you never made. What would you think? Is your card going shopping while you sleep? Let's look at how this can happen and what to do about it.
Security
What is Check Out?
In online shopping, converting product browsing into a completed sale after a customer visits your site is just as critical. The amount of purchases abandoned due to friction in the online buying process often exceeds successful sales.
Credit Card
What Is MIR, the Russian Payment Scheme?
Mir means World and Peace. It is a national payment system established by a law adopted by the Central Bank of Russia on 1 May 2017. It is currently accepted mostly by Russia-based companies, but acceptance is gradually spreading.
Merchant & POS
What Is an MCC Code Used For?
Since the MCC code is a merchant's category code, it's critical for the checks performed during merchant onboarding and authorization, including campaigns and restrictions.
Clearing
Clearing System Files: Incoming and Outgoing Files
The clearing system settles a transaction between two participants when a card from one bank is used at another bank's POS or ATM. Learn about the incoming and outgoing files used in interbank clearing.
Payment Systems
What Are Closed-Loop Payment Systems? The Hidden Side of the Payments World | Closed-Loop Payments #1
The Hidden Side of the Payments World. The words a person working in the payment systems industry hears most over a career are probably Visa, Mastercard, POS, debit card, virtual POS, acquiring and card issuing. Frankly, my own career did not unfold very differently from that journey...
Payment Systems
Visa and Mastercard Branded Cards Will No Longer Work in Russia
After Russia invaded Ukraine, Visa and Mastercard suspended services for sanctioned Russian banks. This post explains the impact on cardholders and merchants, and Russia's MIR and UnionPay alternatives.
Merchant & POS
What Is a MultiCurrency POS?
Multicurrency POS refers to POS devices that can process transactions in foreign currencies (USD, EUR, GBP, etc.) in addition to Turkish Lira. Merchants using a MultiCurrency POS can process transactions in different currencies for international cardholders.