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Glossary: 117 software-led payments terms to know

Payrix

Master merchant Payment facilitator that becomes the merchant of record on behalf of a network of smaller merchants (sub-merchants) or billing companies that regularly collect payments; key markets for master merchant networks include government, education, utilities, and nonprofit organizations.

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

Stax

The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. Key steps include application review, risk assessment, credit checks, and compliance verification.

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The Price of Convenience: Is There Such a Thing as Free Credit Card Processing?

Stax

TL;DR Surcharging is a method for businesses to offset credit card processing costs by passing them on to customers. When implementing a surcharging program, businesses follow local regulations, ensure legal compliance, determine surcharge percentages and communicate transparently.

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Everything You Need to Know About Credit Card Processing

Stax

They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor. You also have to be mindful of the costs of credit card processing. Fees include (but aren’t limited to) transaction fees, interchange rates, PCI compliance, and more.

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The Ultimate Guide to Online Payment Processing

Stax

You must set up a cryptocurrency wallet to accept digital currency and also implement a medium for customers to provide their own wallet address and the payment amount they are sending. Step 3: Get your merchant account We already established that you cant accept credit card payments without a merchant account.

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Understanding Payment Processing Compliance When Implementing Credit Card Surcharging

Stax

Credit card surcharging can help offset these expenses, but it can be tricky. Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. The more they use cash payment, the lower your overall processing expenses.

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Everything You Need to Know About PCI Compliance for Credit Card Processing

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TL;DR PCI compliance is essential because it helps prevent data breaches, ultimately cultivating customer trust. Failing to comply with the Payment Card Industry Data Security Standard can have a number of severe consequences for a business. What is PCI Compliance? Why Is PCI Compliance So Important?