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Glossary: 117 software-led payments terms to know

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Association Group of card-issuing banks or organizations that set common transaction terms for merchants, issuers, and acquirers. Card acceptor business code A four-digit numerical representation of the type of business in which the card acceptor (merchant) engages. Visa, Mastercard, American Express, etc.).

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Payment Gateway vs Payment Processor: What You Need to Know

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In this article, we’ll take a look at everything you need to know about these entities, including the differences between the two, how they can work together, and how to make sure you have the right credit card processing solution for your small business.

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Merchant Underwriting: What It Is, How It Works, and Why It’s Important

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Merchant account underwriting is the evaluation process payment processors use to assess whether a business meets the criteria for accepting credit card payments. For example, businesses with a history of chargebacks should implement strategies to reduce disputes.

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All You Need to Know About Internet Credit Card Payment Processing

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To accept online payments, you need a payment processor and payment gateway. The payment processor is a financial institution that handles transactions between the two banks. Payment Gateways vs. Payment Processors: What’s the Difference? But what’s the difference between these two?

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What Is an ISO? Everything You Should Know about Independent Sales Organizations

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Choosing a payment processing partner isn’t just about finding a way to accept credit cards, it’s about building the financial foundation of your business. And depending on your needs, working with one could give you more flexibility, service, and value than a traditional bank.

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Visa Interchange Rates 2024: What You Need to Know

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If your company accepts credit card payments ( which it should ), chances are, you’re going to be affected by Visa’s interchange rates. Visa is one of the biggest payment networks in the world, with ~4.2B cards currently in use. So it’s virtually impossible for a business to not accept Visa cards.

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Mobile Credit Card Processing Explained: What Business Owners Need to Know

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What is mobile credit card processing? Mobile credit card processing refers to the capability of accepting credit card payments using a mobile device equipped with a card reader and specialized software. Popular mobile payment solutions include Square, PayPal Here, and Shopify POS.