What is Authorization and Capture in Credit Card Processing?
In the fast-paced world of commerce, credit card transactions have become an indispensable part of our daily lives. The convenience and simplicity of swiping a credit card or clicking “Buy Now” online mask the detailed processes that occur behind the scenes. At the heart of credit card transactions is the process of “authorize” and “capture.” […]
What is NFC and Contactless Payments?
In today’s fast-paced and digital-driven world, the way we conduct financial transactions has evolved drastically. One of the most significant advancements in this realm is the advent of contactless payment processing, driven by Near Field Communication (NFC) technology. In this article, we will explore what NFC and contactless payment processing are, how they work, their […]
What is Track 1, 2, and 3 Data in Magnetic Stripe Credit Cards?
In the world of credit cards, security, and data protection are paramount concerns. Credit card fraud is a prevalent and ever-evolving threat, and it’s crucial to understand the key elements that make up the security features of a credit card. Magnetic stripe cards have been in use for decades and they store essential information on three […]
How do Credit Card Machines Work? Step by Step.
Every day, credit card machines facilitate seamless transactions with a simple tap, insert, or swipe. These devices may appear like magic, but have you ever looked into the inner workings behind these devices? We invite you to embark on a journey to understand the process and functionality behind credit card machines. What is a credit […]
Growth of Online Payments and eCommerce in 2023
Online payments have grown rapidly in recent years, driven by the increasing popularity of eCommerce, mobile payments, and other digital payment methods. In 2023, the global online payments market is expected to reach US$9.46 trillion, with a projected compound annual growth rate (CAGR) of 11.80% over the next five years. There are a number of […]
What is SSL in Payments?
Security is of paramount importance in online payments. Customers need to trust that their sensitive financial information is safe and businesses must ensure the integrity and confidentiality of transactions. One fundamental technology that plays a big role in securing online transactions is SSL, or Secure Sockets Layer. This article provides exploration of SSL in credit […]
How to Accept Credit Card Payments on Your Website
Accepting credit card payments on your website is essential for any business that wants to sell products or services online. It’s a convenient and secure way for customers to pay for their purchases, and it can help you increase sales and grow your business. There are a few different ways to accept credit card payments […]
How to Reduce Cross-Border Fees in Credit Card Processing
In an increasingly interconnected world, online shopping has transcended borders, opening up new avenues for businesses to reach global markets. While this globalization presents lucrative opportunities, it also ushers in a complex set of challenges, particularly cross-border credit card processing fees. For merchants, understanding and effectively managing these fees is paramount to maintaining profitability and […]
Statistics on Payment Collections for Business
In the dynamic world of commerce, effective payment collection or accounts receivables is the lifeblood of businesses. It not only ensures a steady cash flow but also contributes significantly to a company’s financial health and growth. To shed light on the essential aspects of payment collections, we dive into the realm of statistics. These figures […]
The Most Popular Credit Cards in the World
In a world defined by financial flexibility and global connectivity, credit cards have become indispensable tools for millions of consumers. They offer convenience, security, and a gateway to an array of perks and rewards. Amidst the multitude of credit cards available, a select few have risen to prominence, commanding the attention and loyalty of cardholders […]