Stax

NOVEMBER 14, 2024

Step 6: At the end of the month, the statement is sent to the business that details the interchange for all transactions that month–which is the fee set by credit card companies for merchants to accept their cards as payment. Typically, card transactions are authorized in less than a minute.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Payment APIs and Integration 88

Clearly Payments

DECEMBER 2, 2024

The terminal communicates with the card issuer to approve the payment. Once approved, the funds are transferred to the business’s merchant account, typically within 1–3 business days (same day or next day with Clearly Payments ). Pros Expands business reach to a global customer base.

Credit Cards 105

Credit Cards Payment Gateways Gateways Point-of-Sale (POS) 105

Stax

APRIL 18, 2024

Issuing Bank: The bank or financial institution that issued the credit card to the cardholder. Card Network (e.g., Payment Gateway: A service provider that facilitates communication between the merchant’s POS system and the acquiring bank’s payment processing system.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Processors 88

Payment Savvy

JULY 3, 2024

Online, they enter their debit card information (card number, expiration date, CVV code) directly on the merchant’s website or app. Once the card is swiped, tapped, or details entered, the merchant’s POS system or payment gateway captures the transaction details.

Debit Card 52

Debit Card Process PCI DSS Processors 52