|
Virtual Terminal (payment Processing)
A virtual terminal is a software application (often a web application) for merchants which allows them to accept payment with a payment card, specifically a credit card, without requiring the physical presence of the card (“card not present transaction”). They are called “virtual” terminals in contrast to the physical payment terminals used to process card payments when the payment card is present. Use of virtual terminals When a customer wants to pay with a card over the phone, a virtual terminal allows the person accepting payment (such as a call center agent) to enter the customer's credit card details to take a payment. Unlike when accepting payment with a regular payment terminal, the presence of the payment card is not required. The payment data is then automatically sent to the payment processor to handle the payment. While the physical card need not be presented to the merchant (which would be impossible over the phone), the customer authorising the payment should ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Web Application
A web application (or web app) is application software that is accessed using a web browser. Web applications are delivered on the World Wide Web to users with an active network connection. History In earlier computing models like client-server, the processing load for the application was shared between code on the server and code installed on each client locally. In other words, an application had its own pre-compiled client program which served as its user interface and had to be separately installed on each user's personal computer. An upgrade to the server-side code of the application would typically also require an upgrade to the client-side code installed on each user workstation, adding to the technical support, support cost and decreasing productivity. In addition, both the client and server components of the application were usually tightly bound to a particular computer architecture and operating system and porting them to others was often prohibitively expensive for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant
A merchant is a person who trades in commodities produced by other people, especially one who trades with foreign countries. Historically, a merchant is anyone who is involved in business or trade. Merchants have operated for as long as industry, commerce, and trade have existed. In 16th-century Europe, two different terms for merchants emerged: referred to local traders (such as bakers and grocers) and ( nl, koopman) referred to merchants who operated on a global stage, importing and exporting goods over vast distances and offering added-value services such as credit and finance. The status of the merchant has varied during different periods of history and among different societies. In modern times, the term ''merchant'' has occasionally been used to refer to a businessperson or someone undertaking activities (commercial or industrial) for the purpose of generating profit, cash flow, sales, and revenue using a combination of human, financial, intellectual and physical capit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Card
Payment cards are part of a payment system issued by financial institutions, such as a bank, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer and access automated teller machines (ATMs). Such cards are known by a variety of names including bank cards, ATM cards, client cards, key cards or cash cards. There are a number of types of payment cards, the most common being credit cards, debit cards, charge cards, and prepaid cards. Most commonly, a payment card is electronically linked to an account or accounts belonging to the cardholder. These accounts may be deposit accounts or loan or credit accounts, and the card is a means of authenticating the cardholder. However, stored-value cards store money on the card itself and are not necessarily linked to an account at a financial institution. It can also be a smart card that contains a unique card n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium), and a few gemstone-encrusted metal cards. A regular credit card is different from a charge card, which requires the balance to be repaid in full each month or at the end of each statement cycle. In contrast, credit cards allow the consumers to build a continuing balance of debt, subject to interest being charged. A credit car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Terminal
A payment terminal, also known as a point of sale (POS) terminal, credit card terminal, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization. A payment terminal allows a merchant to capture required credit and debit card information and to transmit this data to the merchant services provider or bank for authorization and finally, to transfer funds to the merchant. The terminal allows the merchant or their client to swipe, insert or hold a card near the device to capture the information. They are often connected to point of sale systems so that payment amounts and confirmation of payment can be transferred automatically to the merchant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Processor
A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts. They are usually broken down into two types: front-end and back-end. Front-end processors have connections to various card associations and supply authorization and settlement services to the merchant banks' merchants. Back-end processors accept settlements from front-end processors and, via the Federal Reserve Bank for example, move the money from the issuing bank to the merchant bank. In an operation that will usually take a few seconds, the payment processor will both check the details received by forwarding them to the respective card's issuing bank or card association for verification, and also carry out a series of anti-fraud measures against the transaction. Additional parameters, including the card's country of issue and its previous payment history, are a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Card Security Code
The card security code is located on the back of Visa, Discover Card">Discover, Diners Club, and JCB credit or debit cards and is typically a separate group of three digits to the right of the signature strip file:CIDSampleAmex.png, On American Express cards, the card security code is a printed, not embossed, group of four digits on the front towards the right A card security code (CSC; also known as CVC, CVV, or #Naming, several other names) is a series of numbers that, in addition to the bank card number, is printed (not embossed) on a card. The CSC is used as a security feature for card not present transactions, where a personal identification number (PIN) cannot be manually entered by the cardholder (as they would during point-of-sale or card present transactions). It was instituted to reduce the incidence of credit card fraud. These codes are in slightly different places for different card issuers. The CSC for Visa, Mastercard, and Discover credit cards is a three-di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MO/TO
A card-not-present transaction (CNP, mail order / telephone order, MO/TO) is a payment card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an order is given and payment effected. It is most commonly used for payments made over the Internet, but can also be used with mail-order transactions by mail or fax, or over the telephone. Card-not-present transactions are a major route for credit card fraud, because it is difficult for a merchant to verify that the actual cardholder is indeed authorizing a purchase. If a fraudulent CNP transaction is reported, the acquiring bank hosting the merchant account that received the money from the fraudulent transaction must make restitution to the cardholder, which is called a chargeback. This is the opposite of a card present transaction, when the issuer of the card is liable for restitution. Because of the greater risk, some card issuers charge a greater tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PayPal
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee. Established in 1998 as Confinity, PayPal went public through an IPO in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015 eBay spun off PayPal to its shareholders, and PayPal became an independent company again. The company was ranked 143rd on the 2022 Fortune 500 of the largest United States corporations by revenue. History Early history PayPal was originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Confinity, a company that developed security software for hand-held de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mypos
myPOS is a European payment services company, offering mobile payment terminals and online payments, based in London, UK. History The idea of myPOS was conceived in 2012. Two years later, in 2014, myPOS was officially presented at the Mobile World Congress in Barcelona. In 2017 the headquarters moved to London, UK. In September 2018, the company opened a store in Milan, Italy. In January 2022 the company has several stores across Europe: * Amsterdam, Netherlands * Antwerp, Belgium * London, United Kingdom * Milan,Italy * Paris, France * Sofia, Bulgaria * Varna, Bulgaria * Vienna, Austria * Lisbon, Portugal * Bucharest, Romania * Iceland Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its s ..., Rekjavík Products myPOS offers POS terminals and online payment solutions. References ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SumUp
SumUp is a global Fintech, financial technology company headquartered in London, United Kingdom. SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates a product suite of tailor-made business tools created specifically for the micro and nano segment. SumUp’s primary product offering is an EMV card reader, which can read magnetic strip, chip ("Chip and Pin"), and RFID/NFC. History The idea of SumUp was conceived in 2011, and the company was founded in 2012. Investors include Goldman Sachs, Temasek, Bain Capital Credit, Crestline, Oaktree Capital Management, American Express, BBVA Ventures and Groupon. SumUp's first product was officially launched in August 2012. Currently, it has offices in: * Amsterdam, Netherlands * Barcelona, Spain * Berlin, Germany * Bogotá, Colombia * Boulder, Colorado, United States * Copenhagen, Denmark * Cologne, Germany * Dublin, Ireland * Kyiv, Ukraine * London, England, United Kingdom * Luxembourg City, Luxe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
