Clearly Payments

DECEMBER 2, 2024

In-Store Credit Card Processing For brick-and-mortar businesses, in-store credit card processing is the most traditional and widely used method. This involves using a physical point-of-sale (POS) terminal to process card payments. The terminal communicates with the card issuer to approve the payment.

Credit Cards 105

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

FICO

MARCH 29, 2017

The rest took place at bank ATMs or point-of-sale (POS) devices, such as card payment machines at retailers. The average duration of a compromise continued to fall — on average, an ATM or POS device would be compromised for 11 days, compared to 14 days in 2015.

ATM 72

ATM Debit Card Compromise Point-of-Sale (POS) 72

PYMNTS

NOVEMBER 5, 2020

Innovating on the point of sale (POS) for consumers isn’t a one-shot deal. For merchants selling goods, and card issuers, those subscriptions are something like locking up an annuity that offers them a little bit of money and a lot of certainty about incoming revenue.

Innovation 110

Innovation Point-of-Sale (POS) Push-to-Card Payments 110

Clearly Payments

OCTOBER 10, 2024

These are particularly effective for credit card companies. For instance, major credit card issuers like Chase and Capital One offer cashback for purchases made on certain categories like groceries, dining, and gas. Point-of-Sale (POS) Integration : Payment processors integrate loyalty programs directly into POS systems.

Processors 105

Processors Payments Credit Cards Point-of-Sale (POS) 105

PYMNTS

JANUARY 8, 2019

Tokenization will replace card details with a code, called a “token,” which will be specifically for the card, the token requestor and the device being used to pay. Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code payment systems.

Point-of-Sale (POS) 56

Point-of-Sale (POS) Card Issuer Payments Credit Cards 56

EBizCharge

MARCH 11, 2025

Since ACH payments eliminate the need for credit card networks, they offer a cost-effective and secure alternative for businesses handling recurring payments, payroll, or large transactions. These fees cover the cost of securely transmitting payment data, encrypting sensitive data, and authorizing transactions in real-time.

Processing Costs 52

Processing Costs Process Credit Cards Payment Gateways 52

PYMNTS

JULY 2, 2020

Consumers are reluctant to touch point-of-sale (POS) terminals during the pandemic so that they are not at risk of catching exposure to germs lingering on the devices’ surfaces. This month’s Deep Dive examines how card issuers are seeking to cater to merchants and consumers’ new payment preferences.

Debit Card 89

Debit Card Point-of-Sale (POS) Contactless Payments Issuers 89

EBizCharge

AUGUST 22, 2024

What are credit card decline codes? Credit card decline codes are specific error messages issued by a card issuer or bank when a credit card transaction can’t be processed. 04 Pick Up Card The merchant should retain the card, and the issuing bank should be contacted.

Credit Cards 52

Credit Cards Card Issuer Issuers Point-of-Sale (POS) 52

PYMNTS

JANUARY 20, 2020

Quite to the contrary, if the various unnamed sources cited are correct, Amazon is thinking a lot about its hand-based payment technology these days, and not just about how it can be applied to the point of sale (POS) at Whole Foods and Amazon Go locations — as had been previously reported. JPMorgan Chase & Co.,

Payments 110

Payments Push-to-Card Point-of-Sale (POS) Issuers 110

PYMNTS

SEPTEMBER 9, 2020

Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. The COVID-19 pandemic is shaking up shopping behavior. Download the Tracker to read more.

Debit Card 64

Debit Card Credit Union Service Organization Point-of-Sale (POS) Contactless Payments 64

PYMNTS

NOVEMBER 27, 2019

The expansion of EMV chip-enabled payment cards has made it more challenging for fraudsters to steal credit card information at the point of sale (POS). Cybercriminals are thus increasingly turning to online platforms to perpetuate card-not-present (CNP) fraud.

Point-of-Sale (POS) 60

Point-of-Sale (POS) AI Card Issuer Credit Cards 60

Stax

AUGUST 1, 2024

It would like to increase interchange fees, but also control how much merchant surcharge can be added to customers’ bills so they don’t get discouraged from using credit cards. Visa is one of America’s top four credit card issuers, and globally the most widely used card processor.

Rules 88

Rules Credit Cards Caps Processors 88

PayHawk

APRIL 18, 2023

Address Verification Service (AVS) A fraud prevention tool that checks the billing address provided by the cardholder against the address on file with the card issuer. Annual Percentage Rate (APR) The annual interest rate charged by a credit card issuer on outstanding balances.

Process 52

Process Card Issuer Online and Mobile Banking Issuers 52

Stax

NOVEMBER 21, 2024

We have broken down the process into three key steps below: Payment initiation This first step is triggered when your customer pays for your goods or services using a credit card. The payment could also be made via digital means.

Credit Cards 88

Credit Cards Small Business Process Credit Card Payment Processing 88

The Payments Association

OCTOBER 4, 2024

Traditional card issuers and networks must adapt or risk obsolescence. Technological disruption and innovation The rapid pace of technological change is both a challenge and an opportunity for the card payment industry. This behavioural shift places pressure on the card payment industry to adapt quickly.

Cross-Border Payments 88

Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

PYMNTS

NOVEMBER 15, 2018

To that end, Chase , the largest card issuer in the U.S., 14) that it’s rolling out tap-to-pay functionality across its Chase Visa card portfolio. A survey of 2,800 consumers found that many individuals have the desire to tap and pay, rather than swipe cards at the point of sale (POS).

Card Services 71

Card Services Contactless Payments Point-of-Sale (POS) Credit Cards 71

EBizCharge

AUGUST 12, 2024

When navigating the realm of credit card processing, it’s crucial to distinguish between merchant acquirers (acquiring banks), card issuers, and payment processors, as each plays a distinct role in the card transaction ecosystem. Card issuers are banks or financial institutions that issue credit cards to consumers.

Credit Cards 52

Credit Cards Acquirers Process Debit Card 52

PYMNTS

FEBRUARY 3, 2020

Skimming tools are frequently used by bad actors to access consumers’ sensitive payment information, as these devices can be attached to ATMs, gas station pumps, point-of-sale (POS) systems and other payment terminals.

Debit Card 52

Debit Card Assessments Data Breach Online and Mobile Banking 52

Stax

NOVEMBER 6, 2023

Thanks to these modern payment solutions, credit card, and debit card users can now complete their purchases without swiping or inserting their cards at the point of sale (POS) terminals. Google was a little late to the party, but it also followed with its method called Google Pay in 2016.

Mobile Payments 88

Mobile Payments Online and Mobile Banking Debit Card Payments 88

Stax

SEPTEMBER 17, 2024

Payment processors verify the payment details, ensure there are enough funds (if the purchase is made with a debit card), make sure there’s no fraud being committed, and essentially give the green light for the transaction to go through. From there, the bank will approve or decline the transaction.

Payment Gateways 88

Payment Gateways Gateways Payment APIs and Integration Online and Mobile Banking 88

PYMNTS

MARCH 1, 2019

Point of sale underwriting — installment loans offered to consumers at the point of purchase that let them finance their buy over time, usually three to six months — is more an example of the latter case. Levchin views JPMC’s new rollout as an excellent endorsement.

Finance 63

Finance Identity Theft Push-to-Card Underwriting 63

Stax

APRIL 18, 2024

The steps to process a credit card transaction Step 1: Authorization Request The process initiates when a customer presents their credit card for payment. The merchant’s point-of-sale (POS) system sends an authorization request to the acquiring bank (also known as the merchant bank) via a payment gateway.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Processors 88

PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible.

Debit Card 56

Debit Card Electronic Funds Transfer (EFT) Debit Transaction Federal Reserve 56

Stax

MAY 7, 2024

For example, the interchange fees for online transactions may be higher due to the higher risk of credit card fraud. Interchange fees are set by credit card issuers, such as Bank of America, Citi, or Chase, and are adjusted every year in April and October. Can merchants pass credit card processing fees to customers?

Credit Cards 88

Credit Cards Process Processors Online and Mobile Banking 88

Stax

DECEMBER 20, 2023

Use Address Verification Services (AVS) AVS is a fraud prevention measure for online and card-not-present transactions. It’ll compare the billing address provided in the transaction to the billing address on file with the card issuer. After this, you choose the appropriate hardware and software for processing transactions.

Credit Cards 88

Credit Cards Small Business Process Security 88

Stax

MARCH 14, 2024

Most B2C transactions are performed at the point of sale (POS), whether it’s eCommerce or in-store checkout, which lends them to faster payment methods like mobile payments more often than B2B transactions. Business to consumer (B2C), by comparison, relies on speedy payment processing to transact on the spot.

B2B 88

B2B Process B2C Credit Cards 88

Nanonets

NOVEMBER 15, 2023

When a customer pays with a credit or debit card, the payment processor validates the card and initiates a transfer of funds from the cardholder’s bank to the merchant’s account. The processor then settles the transaction with the card issuer. What is a Payment Processor?

Processors 52

Processors Office of the Comptroller of the Currency Payment APIs and Integration Debit Card 52

CB Insights

DECEMBER 4, 2019

To compete, Amazon is investing in product including hiring product managers for devices solutions, which could see Alexa move from the home and office, and into brick-and-mortar or point-of-sale POS. With the card, parents can manage spending limits and allocate funds for their children through a mobile app.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

Clearly Payments

NOVEMBER 21, 2023

In response to this evolving consumer preference for touchless payments, businesses are upgrading their point-of-sale (POS) systems to ensure seamless integration, further showing Canada’s commitment to technological progress. issuing banks) in Canada increased the transaction limits from $100 to $250 in 2021.

Payments Trends 52

Payments Trends BNPL Contactless Payments Online and Mobile Banking 52

Clearly Payments

DECEMBER 3, 2024

Expired Card (5-10% of declines) A cardholder may unknowingly attempt to use an expired card, leading to a declined transaction. While card issuers generally send replacement cards before the expiration date, delays or oversight can result in this issue.

Credit Cards 52

Credit Cards Address Verification System (AVS) Card Issuer Alternative Payment Methods 52

Stax

OCTOBER 14, 2024

Ensure that the processor you choose can work seamlessly with your existing point-of-sale (POS) system, eCommerce platform, or accounting software. and $0.50), plus a percentage of each purchase (between 1% and 3%) on top of the interchange fees charged by the card issuers.

Processors 88

Processors Small Business Payment APIs and Integration Payments 88