|
Merchant Account Provider
Merchant Account Providers give businesses the ability to accept debit and credit cards in payment for goods and services. This can be face-to-face, on the telephone, or over the internet. Credit cards have become the preferred method of payment in today's market, making a merchant account essential for most businesses. Overview Historically credit card processing services were supplied by banks that were members of the Visa or MasterCard networks. Typically banks both issued credit cards and helped merchants process them, but over time the industry consolidated. Now the industry is dominated by a few large issuers - Elavon, Citibank, Capital One, MBNA / Bank of America, and Chase. Even fewer banks process credit cards. Banks found that it was not within their skillset to convince every small merchant to accept credit cards, and they began to outsource the selling of such services to small companies called ISOs (Independent Sales Organizations). They also found that massive scal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term '' plastic card'' includes the above and as an identity document. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of a purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a stored value with which a payment is made (prepaid card), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on the Internet and there is no physical card. This is referred to as a virtual card. In many countries, the use of debit cards has become so widespread they have overtaken checks in volume, or have entirely replaced them; in some instances, debit cards ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chargeback
A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. Most commonly the payer is a consumer. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card. The chargeback is ordered by the bank that issued the consumer's payment card. In the distribution industry, a chargeback occurs when the supplier sells a product at a higher price to the distributor than the price they have set with the end user. The distributor submits a chargeback to the supplier so they can recover the money lost in the transaction. United States overview The chargeback mechanism exists primarily for consumer protection. Holders of credit cards issued in the United States are afforded reversal rights by Regulation Z of the Truth in Lending Act. United States debit card holders are guaranteed reversal rights by Regulation E of the Electronic Fund Transfer Act. Similar rights extend globally, pursuant to the rule ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Card Industry
The payment card industry (PCI) denotes the debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses. Overview The payment card industry consists of all the organizations which store, process and transmit cardholder data, most notably for debit cards and credit cards. The security standards are developed by the Payment Card Industry Security Standards Council which develops the Payment Card Industry Data Security Standards used throughout the industry. Individual card brands establish compliance requirements that are used by service providers and have their own compliance programs. Major card brands include American Express, Discover Financial Services, Japan Credit Bureau, Mastercard, RuPay, UnionPay and Visa. Most companies use member banks that connect and accept transactions from the card brands. Not all card brands use member banks, like American Express, these instead act as their own bank. , the United States uses a magnetic stripe on a card to p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chargeback Insurance
{{More citations needed, date=December 2008Chargeback insurance is an insurance product that protects a merchant who accepts credit cards. The insurance protects the merchant against fraud in a transaction where the use of the credit card was unauthorized, and covers claims arising out of the merchant's liability to the service bank. The phrase chargeback insurance is also sometimes used to describe the guarantee provided by online fraud prevention companies such as Vesta, ClearSale, Forter, Riskified and Signifyd. Unlike with card present transactions, where the merchant is not liable for the cost of fraudulent transactions (unless they do not meet technological security requirements such as EMV), merchants are liable for card not present transactions which turn out to be fraudulent. For this reason, online fraud prevention companies who offer decisions (meaning, they provide an approve or decline decision for orders) rather than scores (where the merchant must themselves dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card Fraud 0
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Etymology The term "credit" was first used in English in the 1520s. The term came "from Middle French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Account
A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or member service provider (MSP) is also a party to the merchant agreement. Whether a merchant enters into a merchant agreement directly with an acquiring bank or through an aggregator, the agreement contractually binds the merchant to obey the operating regulations established by the card associations. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high-risk nature by the banks and credit card processors. The industries that possess this account are adult industry, travel, Forex trading business, multilevel market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Money
Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic Database, computer database owned by a company or bank, within Computer file, digital files or even on a stored-value card. Digital currencies exhibit properties similar to traditional currencies, but generally do not have a classical physical form of fiat currency historically that you can directly hold in your hand, like currencies with printed banknotes or minted coins - however they do have a physical form in an unclassical sense coming from the computer to computer and computer to human interactions and the information and processing power of the serve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EFTPOS
Electronic funds transfer at point of sale (EFTPOS; ) is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s. In Australia and New Zealand, it is also the brand name of a specific system used for such payments; these systems are mainly country-specific and do not interconnect. In Singapore, it is known as NETS. Debit and credit cards are embossed plastic cards complying with ISO/IEC 7810 ID-1 standard. The cards have an embossed bank card number conforming with the ISO/IEC 7812 numbering standard. History EFTPOS technology originated in the United States in 1981 and was rolled out in 1982. Initially, a number of nationwide systems were set up, such as ''Interlink'', which were limited to participating correspondent banking relationships, not being linked to each other. Consumers and merchants were s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card Cashback
Debit card cashback (also known as cash out in Australia and New Zealand) is a service offered to retail customers whereby an amount is added to the total purchase price of a transaction paid by debit card and the customer receives that amount in cash along with the purchase. Debit card cashback is offered either by various banks only to some card holders or by companies like VISA, Mastercard or American Express. For example, a customer purchasing $18.99 worth of goods at a supermarket might ask for twenty dollars cashback. They would pay a total of $38.99 ($18.99 + $20.00) with their debit card and receive $20 in cash along with their goods. This benefits the store as it reduces the amount of cash banking the store has to do. Many customers find it a useful way to obtain cash as it avoids them having to use a cash machine, which may incur additional fees. Coverage The service is offered by both banks and merchants in places such as the United States, United Kingdom, Hong Kong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business-to-business Electronic Commerce
Business-to-business (B2B or, in some countries, BtoB) is a situation where one business makes a commercial transaction with another. This typically occurs when: * A business is sourcing materials for their production process for output (e.g., a food manufacturer purchasing salt), i.e. providing raw material to the other company that will produce output. * A business needs the services of another for operational reasons (e.g., a food manufacturer employing an accountancy firm to audit their finances). * A business re-sells goods and services produced by others (e.g., a retailer buying the end product from the food manufacturer). B2B is often contrasted with business-to-consumer (B2C). In B2B commerce, it is often the case that the parties to the relationship have comparable negotiating power, and even when they do not, each party typically involves professional staff and legal counsel in the negotiation of terms, whereas B2C is shaped to a far greater degree by economic implic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Point Of Sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are available. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Data
First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provided nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and Online outlets for nearly a third of all U.S. debit cards. First Data has six million merchants, the largest in the payments industry. The company handles 45% of all US credit and debit transactions, including handling prepaid gift card processing for many US brands such as Starbucks. It processes around 2,800 transactions per second and $2.2 trillion in card transactions annually, with an 80% market share in gas and groceries in 2014. First Data's SpendTrend Report is a key shopping metric for national news networks such as '' WSJ, USA Today'', ''ESPN'', ''The New York Times'', Vox Media, and ''Bloomberg''. In October 2015, First Data returned to public markets, selling 160 million shares in the New York Stock Exchange’s biggest IPO of that year. On Januar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Debit Card")
