Payment fraud poses a significant threat across industries, with pharmaceuticals, manufacturing, and finance being particularly susceptible. It is imperative for leaders in information technology and cybersecurity, including managers and team leaders, Heads of the ITs, CISOs, and IT managers, to stay informed about the current market of payment fraud, its associated costs, and the effective …
Running an online business requires an effective method for receiving payments, and payment gateways serve as financial tools that facilitate the collection of payments through credit or debit cards. Nowadays, where online shopping is prevalent, and physical cash is less common, having an accessible and user-friendly payment gateway is essential for engaging both consumer and …
The Federal Reserve is currently working on a plan to lower the fees that merchants have to pay to banks when customers use debit cards for purchases. Currently, merchants are charged 21 cents plus an additional 0.05% of the transaction amount, by card issuers as set by the Fed in 2011. The Fed has not …
US Fed Proposes Reducing Interchange Fees on Debit Cards Read More »
Pay-By-Bank rеfеr to an ACH payment system that utilizеs opеn banking. This innovative approach allows consumers to authorize the sharing of their financial data bеtwееn trusted parties. As a result, they can conveniently sеttlе their bills directly from their bank accounts with enhanced security measures. This eliminates the hassle of repeatedly еntеring routing numbеrs and …
JPMorgan and MasterCard Pay-by-Bank Tool Goes Live Read More »
Stax Payments acquired APPS recently. Stax Payments is a popular company based in Orlando, Florida. And Atlantic-Pacific Processing Systems or APPS is a digital platform provider from Las Vegas, NV. This strategic move significantly broadens Stax’s technology offerings. It has presented merchants and partners with adaptable, personalized choices for their payment processing requirements, all within …
APPS Acquired by Stax Payments (Formerly Fattmerchant) Read More »
In the face of the increasing demands of deliveries, Fiserv Inc., a known technology solutions provider, for financial services and payments has introduced an innovative solution “Carat“. This new offering enables large scale retailers, grocery stores and restaurants to streamline their delivery operations reduce costs and regain control over their customers delivery experience. Image source: …
Fiserv Carat – An Overview and Fiserv Executive Comments Read More »
In an increasingly interconnected world, the rapid evolution of financial technology has ushered in a new era of seamless transactions and real-time payments. While the United States has long been a powerhouse in the global financial landscape, its journey toward adopting real-time payments has been full of challenges and a cautious approach. However, in India, …
UPI Payments Success in India May Provide a Template for Real-Time Payments in the US Read More »
Stripe, the renowned online payment processing platform, has recently expanded its offerings to include charge cards tailored specifically for small businesses. This exciting development aims to empower entrepreneurs and startups by providing them with a seamless and efficient way to manage their expenses and access credit. With its user-friendly interface, advanced financial tools, and robust …
Payments orchestration promises aggregators significant opportunities to optimize their businesses, reduce costs, improve customer experiences, and increase revenues. By integrating multiple payment methods into a single workflow, payment orchestration simplifies what was previously a complicated, manual process. Aggregators can streamline their operations through automation, cutting costs from repetitive tasks and lower headcounts. At the same …
How Aggregators are Using Payments Orchestration to Increase Business Read More »
Account-to-account payment or A2A payment solution is progressively replacing traditional payment methods, such as bank cards or cash. It is being widely used in eCommerce payments and will account for almost 20% of it in 2023. If you want to send funds directly from your account to another account, say a merchant’s account, then A2A …
A2A Payment (Account to Account Payment) Trends and Technologies Read More »
Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ETAor ETA) are electronic methods used in medical billing to securely transfer payment and related information between healthcare providers and payers. This article discusses the benefits of EFT and ETA in medical billing. EFT allows for the direct deposit of payments into a provider’s bank account, while …
What Is EFT and ETA in Medical Billing? What Are The Benefits? Read More »
Accepting payment options other than cash and having the ability to process those payments is an absolute must in today’s business environment. Luckily, there are many ways to process payments in 2023. As more and more businesses have embraced the acceptance of non-cash payments, technological advancements and competitive forces in the payments industry have made …
WorldPay is arguably one of the biggest names in the payment processing industry. Being founded back in 1989 and being one of the pioneers of online payments, the impact of WorldPay on the payment industry cannot be ignored. It survived a major acquisition by another huge payment processor in 2018. The companies merged and became …
WorldPay Suspends Residuals on Commissions to Mercury ISOs Read More »
Cash has been mainly replaced by credit and debit cards, not only because of the convenience they give but also because there has been a considerable increase in online shopping and online services. More than 80% of Americans now make online payments, and the number of people receiving paychecks from vendors is also increasing. This …
The overall impact of the global pandemic is becoming more prevalent. Most organizations have now returned to their pre-pandemic business models, and the payment industry is evolving to adapt to changes in trends for customers, partners, and other businesses, even as the world tries to regain a sense of normalcy. The world economy heavily relies …
How is COVID-19 Affecting Payment Processing Trends 2022? Read More »
The pandemic has made it necessary for restaurants to limit face-to-face interactions as much as possible. In that effort, restaurants and pubs have set up QR codes for taking orders and digital payment. We don’t think this change is going to go away as both customers and restaurants are benefiting from the use of QR …
Benefits of QR Codes and How Restaurants Can Use Them Read More »
Over the last 12 months, almost every retailer felt the need to shift from the in-store traditional payment methods to the new-age digital methods. Businesses have also understood that this shift has a vast scope – it is not just a momentary reaction to the prevailing coronavirus pandemic, but a long-term trend. IBM’s U.S Retail …
Trends in Mobile Credit Card Processing for Fall 2021 and 2022 Read More »
If you are starting or moving your business to a subscription-based model, you need to choose an appropriate recurring payment plan to accept payments from your customers at regular intervals. Recurring payment, also known as automatic electronic payment is a payment model where a certain amount from the customers’ bank or selected payment method is …
How to Securely Set up and Accept Recurring Payments? Read More »