Remove Data Encryption Remove Encryption Remove Non-Bank
article thumbnail

How are Interchange Fees Calculated?

Stax

Behind every seamless payment card transaction is a complex network of banks, credit card companies, and payment systems working together to transfer money from the customer to the merchant. Although they go to issuing banks, the rates are set by card networks. However, this convenience comes at a cost, mainly for businesses.

article thumbnail

European Central Bank sets out business model for digital euro

NFCW

TRANSACTION FEE: A step-by-step overview of the digital euro compensation model Payment service providers will be able to charge merchants a fee for enabling them to accept digital euro transactions, the European Central Bank (ECB) has revealed, but a cap will be placed on the amount that it will be possible for them to charge.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What Is Data Tokenization and How Does It Work?

Stax

Moreover, companies need to follow data privacy and compliance requirements to stay in business. There are various methods of enforcing data security, such as data masking, encryption, authentication, and data tokenization. The resulting token is essentially a proxy and has no real value.

article thumbnail

PCI requirements and who needs to follow them

Basis Theory

Whether that is collecting credit card numbers to transmit with a payment gateway, placing details into a shared customer relationship management system, or storing card numbers in an encrypted database—all of this sensitive information must be protected according to the specifics of the PCI-DSS standard.

PCI DSS 88
article thumbnail

ECB Publishes First Progress Report on Digital Euro Preparation Phase

Fintech Finance

The European Central Bank (ECB) has published its first progress report on the digital euro preparation phase, which was launched on 1 November 2023 with the aim of laying the foundations for the potential issuance of a digital euro.

article thumbnail

The 12 PCI DSS Requirements to Ensure PCI Compliance

Stax

These standards provide a robust set of regulations that businesses can use to set up compliance programs to protect their cardholder data environment (CDE), prevent cyberattacks, and improve their credit card payment processing system. Encryption is a method that renders information useless to criminals when being transmitted.

PCI DSS 88
article thumbnail

What is a Payment Gateway and How Does It Work?

Stax

TL;DR A payment gateway is a solution that securely reads and transfers a customer’s payment information to a merchant’s bank account—both for online and in-person transactions. Think of it as a cash register, except that the payments it processes are non-cash. The customer’s card-issuing bank that holds their credit card account.