Payments for Software and SaaS Businesses
Software and SaaS (software-as-a-service) businesses have grown significantly over the past two decades. Consumers and businesses alike have all increased the amount and variety of software services they use. This brought about the growing SaaS industry. To explain SaaS a little further, they are businesses that offer subscriptions to their software where a consumer or […]
What is a payment gateway?
Somewhere around 75% of adults shop online at least once per month. Shopping over the internet has grown into a big business. The internet is one of the main ways consumers engage with companies. Payment gateways are a part of that because they help people transact with businesses online. The most basic description of a payment […]
Payment Processing for Car Dealerships
In our experience at TRC-Parus, dealerships want a few key things in a payments solution. They want technology that simply works, low rates, top service, and a solution that will make the finance department happy. These are things that we work relentlessly to deliver with our credit card processing. Payment Technology That Works for […]
What are card brand fees and credit card assessment fees in payments?
Card brand fees are part of the payment processing costs that merchants pay. This fee goes directly to the card brands, such as Visa, MasterCard, Discover, and American Express. The card brand fees are the main source of revenue for the card brands. The card brand fees have several names in the payments industry, including card […]
What is Credit Card Tokenization?
The quick explanation of credit card tokenization is that it is the process where a “phrase” (or token) is used to represent credit card information rather than the credit card information itself. This is a technique used by software and payment systems to enhance security. Tokenization has become very popular in the implementation of technology […]
Contactless, Tap Payments, and Apple Pay Explained
Around the year 2020, the usage of contactless payments drastically increased as customers and businesses looked for ways to minimize physical handling of cash and payment terminals such as PIN pads. In Canada and U.S., the use of contactless payments increased by 150% within a one year period. It is growing very fast because of […]
How Visa Debit Works in Canada
Both debit cards and credit cards are very popular in Canada. Credit cards are currently the most popular transaction method in Canada, accounting for 31% of all transactions. Debit cards are close behind accounting for 28% of all transactions. Historically, cash transactions have been the most popular, however, cash has been falling drastically with people […]
Using Hosted Payment Pages for Online Credit Card Processing
Implementing a hosted payment page is a simple way to offer your customers a safe and convenient way to make online payments while keeping your website secure. Sometimes people refer to hosted payment pages as checkout pages. Either way, they make it easy to accept credit cards online. What is a Hosted Payment Page A hosted […]
The Difference Between an Acquirer and ISO in Payment Processing
To get a merchant account, you can go to an acquirer or an ISO (Independent Sales Organization). In summary, acquirers run the transaction processing technology and they partner with ISOs to do the sales, service, and provide other value-add services. Most merchant accounts in Canada and USA are sold by ISOs. Approximately 80% of merchant […]
Small Business Credit Card Processing in Canada
Small businesses are the foundation of the Canadian economy. Most of the 2.5 million businesses in Canada are small businesses. This is one reason TRC-Parus puts such focus on small business and helping them get the best credit card processing with exceptional customer service and great pricing. What is a small business in payment […]