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Glossary: 117 software-led payments terms to know

Payrix

Payment facilitator (PayFac) A merchant registered by an acquirer to facilitate transactions on behalf of sub-merchants. They provide the infrastructure necessary for their merchants to accept credit card payments. Data breach Unintentional release of secure information (i.e.,

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

Stax

Credit card networks and issuing banks don’t waive their cut; instead, these costs are shifted from the merchant to the customer. The “free” in free processing refers to the merchant not directly covering the transaction fees. This ensures compatibility and smooth data flow between different systems.

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Everything You Need to Know About Credit Card Processing

Stax

These fees can be seen frequently on your monthly statement, but such monthly fees are never actually required in order to accept credit card payments. While this might seem like a cost-effective solution, the time wasted in creating your invoices and the lack of connectivity between your data can be highly detrimental.

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

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Independent Sales Organizations play a key role in handling sensitive financial data and ensuring smooth payment processing for businesses. The main distinction comes down to terminology used by the card networks: Visa refers to its registered third-party merchant service providers as Independent Sales Organizations (ISOs).

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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. You should also consider what features you may want as your business grows.

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Merchant Credit Card Fee Guide 2024: How Much Does It Cost to Process Credit Cards?

Stax

Learn More Understanding Credit Card Processing Fees Credit card processing refers to the transactional processes involved in securing a credit card transfer between a buyer and a seller. To complete payment processing, credit card companies have to charge processing fees.

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Understanding Payment Processing Compliance When Implementing Credit Card Surcharging

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PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. Follow these tips to stick to federal regulations: Refer to federal regulations when drafting internal policies and procedures. Enter the PCI DSS compliance. Security audits.