Original Credit Transaction – What is OCT? / Account Funding Transaction – What is AFT?

Payments in real-time are rapidly becoming the de facto standard of the payments industry, given how fast and seamlessly everything happens. Users simply save their credit card or...

What Does an Acquirer Mean? Why You Need an Acquirer for Payments Processing

One of the very first things businesses look to do when they are starting up is to start accepting card payments for their goods and services. Merchants need to set up a merchant ...

A Complete Guide to Transaction Descriptors

Right now is a great opportunity to build a good understanding of how payment processing works. New business activity has been ramping up over the past few years while simultaneou...

The Payments Industry Landscape: The Payment Ecosystem of Today

There has been so much technological development in the card payments industry landscape over the past seventy years. It all started in the late '40s when Frank McNamara forgot hi...

Everything to Know About Realtime Payments

Realtime payments have been a hot topic in the financial service industry. Many jurisdictions across the globe have already implemented faster payments, and various other nations ...

What Are Cashless ATMs?

While cash has been the go-to payment option for decades, it’s quickly being pushed aside by the convenience of credit and debit cards. Most people prefer to pay with a card rat...

Understanding POS Debit and Point of Sale Charges

Debit cards have increasingly become the preferred method of payment as it offers the same functionality and security that a credit card does while also limiting a person's spendi...

What Is A Bank Identification Number (BIN)

The use of credit cards is becoming routine in day-to-day e-commerce businesses. As a result, it is essential to understand everything connected to credit card use. One of the th...

PIN Debit or Signature Debit: Which Costs Less?

Both PIN debit and signature debit transactions look the same at face value. They are both conducted on a debit card, so what’s the difference? The truth is there are some si...

Category: Payment Processing