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What is a Contactless Payment and Why is it Trending? Pre-COVID-19, few people thought much about how they paid for goods and services. The choices were binary: “cash or card,” “debit or credit,” “insert or tap.” But once the coronavirus pandemic hit, everyone avoided touching anything that could spread germs, and how we pay suddenly shifted.READ MORE
Did you make an online purchase this week? Then you used a Payment Gateway without even knowing it. A Payment Gateway provides a safe method of transferring cardholder data from a website to a payment network for processing. It communicates the confirmation of sufficient funds and the transaction approval back to the website.READ MORE
Payment Processors are the technical glue in the transmission of credit card transactions. They maintain the computer network between Merchant Account Providers and the banks, and facilitate communication between these providers.READ MORE
ACH payment processing operates via the ACH network. Every ACH transaction goes through a seven-step process involving six ACH payment processor entities. These entities include the originator, the receiver, the originating depository financial institution (ODFI), the receiving depository financial institution (RDFI), an ACH operator and the National Automated Clearing House Association (NACHA).READ MORE
Online credit card processing refers to card-not-present payments that are completed on an e-commerce website via a Payment Gateway. The gateway is either provided by or integrated with a Merchant Service Provider.READ MORE
There isn’t a single answer to the question “How do merchant services work?”READ MORE