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A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts. They are usually broken down into two types: front-end and back-end. Front-end processors have connections to various card ...
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payment processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. [1] The payment gateway may be provided by a bank to its customers, but can be provided by a specialised ...
Global Payments Inc. Global Payments Inc. is an American multinational financial technology company that provides payment technology and services to merchants, issuers and consumers. [8] In June 2021, the company was named to the Fortune 500. [9] The company processes payments made through credit cards, debit cards, [10] and digital and ...
Commons. Portal. v. t. e. A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services or withdraw cash on credit. Using the card thus accrues debt that has to be repaid later. [1] Credit cards are one of the most widely used forms of payment across the world.
Payment service provider. A payment service provider ( PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers. [1]
The Payment Card Industry Data Security Standard ( PCI DSS) is an information security standard used to handle credit cards from major card brands. The standard is administered by the Payment Card Industry Security Standards Council, and its use is mandated by the card brands. It was created to better control cardholder data and reduce credit ...
Merchant services. Merchant services is a broad category of financial services intended for use by businesses. [1] In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC / RFID ...
The same business may code differently with different credit cards, and different sections or departments of a store may code differently. Uses of MCCs. An MCC reflects the primary category in which a merchant does business and may be used: to determine the interchange fee paid by the merchant, with riskier lines of business paying higher fees
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