Stax
MARCH 27, 2025
Clients only need to swipe a card at your point-of-sale (POS) terminal or enter their bank account number into your website (Initiation). They check for fraud and fund availability (Verification) before depositing the money into your account (Completion). EFT reduces friction in the customer journey.
PYMNTS
FEBRUARY 18, 2020
The new card was developed to streamline end-to-end processes — point of sale (POS), payments, funds availability. SumUp said that 2 million merchants worldwide use its technology, with 5,000 people joining daily. Beta-testing was successfully conducted with a sampling of more than 25,000 merchants.
Stax
NOVEMBER 21, 2024
The customer can make the credit payment physically by swipe, dip, or tap, depending on your point-of-sale (POS) system , which will capture the credit card details. The payment could also be made via digital means.
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. The payment processor interfaces with the customer’s card network (e.g,
PayHawk
APRIL 18, 2023
D Debit Card A payment card that enables the cardholder to withdraw funds from their bank account or make purchases with funds available in the account. Decline When a transaction is not approved due to insufficient funds, an incorrect PIN, or other issues.
Seon
JULY 27, 2023
The payer’s bank credits the payee’s account, which then makes the funds available to the latter. Payment providers will need to be informed of retailers’ adoption of FedNow, as the former are the ones who will be responsible for the latter’s point of sale (POS) systems.
Expert insights. Personalized for you.
88 
Let's personalize your content