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. Many businesses still rely on very manual processes such as Excel templates, in order to create invoices.

Credit Cards 88

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

Clearly Payments

MARCH 14, 2025

credit card payments surpassed $10.6 Contactless payments continue their rapid adoption, projected to account for more than 60% of in-store purchases. PCI DSS Compliance : Merchants and payment providers must adhere to Payment Card Industry Data Security Standards (PCI DSS) to protect cardholder data.

Credit Cards 52

Credit Cards Transactions PCI DSS Online and Mobile Banking 52

Clearly Payments

DECEMBER 2, 2024

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 ). Contactless payments , such as tap-to-pay, grew by 25% year-over-year in 2023 , making up a significant portion of in-store card transactions.

Credit Cards 105

Credit Cards Payment Gateways Gateways Multi-Currency 105

Stax

FEBRUARY 28, 2024

TL;DR A payment terminal enables a merchant to take chip card and contactless payments. In the modern economic landscape, it’s essentially a requirement to have a successful business. When you buy something at a store and insert your chip card into a machine that uses EMV technology, that’s a payment terminal.

Payments 88

Payments Credit Cards Non-Bank Contactless Payments 88

Stax

APRIL 18, 2024

At the end of the business day, the merchant batches all authorized transactions and submits them to the acquiring bank for settlement. Step 5: Payment Once clearing is complete, the issuing bank transfers the funds to the acquiring bank. This marks the completion of the credit card payment process.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Processors 88

Fintech Labs Insights

OCTOBER 16, 2016

In a statement, the bank’s Deputy Chairman of the Executive Board, Alexander Torbakhov, said, “Apple Pay is driving the popularization of contactless payments in Russia and globally. The NFC payment capability with Vodafone was piloted in Spain. Mastercard is the runner-up: 71% of cards issued contain an EMV chip.

EMV 17

EMV P2P Same Day ACH FinTech 17

Payment Savvy

JULY 3, 2024

Contactless Payments : Using NFC (Near Field Communication) and RFID (Radio Frequency Identification) for debit card transactions. Clearing and Settlement At the end of a business day or a predetermined period, the merchant batches all approved transactions and submits them to the acquiring bank for settlement.

Debit Card 52

Debit Card Process PCI DSS Processors 52