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Glossary: 117 software-led payments terms to know

Payrix

Association Group of card-issuing banks or organizations that set common transaction terms for merchants, issuers, and acquirers. Card brands Member-based corporations that connect consumers, businesses, and banks through electronic payments; establish and enforce rules amongst members; and promote the brands (e.g.,

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Payment Gateway vs Payment Processor: What You Need to Know

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TL;DR A payment processor is a provider that handles transactions between a buyer’s bank and a seller’s bank. A payment gateway is a technology that authorizes and processes payments between buyers and sellers by securely transmitting payment data.

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What are Mobile Payment Services and How Do You Select the Right One for Your Business?

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Building loyalty as a business means meeting your customers where they are, especially where payment options are concerned. Thanks to smartphones and secure authentication, mobile payments continue to explode in usage. Mobile payment systems are revolutionizing how consumers pay for goods and services.

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Understanding the Nature of Payment Gateway Integration For Your Mobile App

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In this article, we will cover the ins and outs of payment gateways, why it’s wise to integrate one with your app, and how to actually do it. Why Would Companies or Developers Want a Mobile App Payment Gateway? Challenges include: Lack of support for local payment methods (e.g., Alipay, iDEAL, M-Pesa).

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Everything You Need to Know About Credit Card Processing

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Here are the inside details about what defines a payment solutions provider, how processing works, the credit card processing fees , risks, and more. They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor. Acquiring Bank: The business’ (i.e., merchant’s) bank.

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The Ultimate Guide to Online Payment Processing

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There are six main payment methods used in online payments, including credit & debit cards, digital wallets, ACH & bank transfers, direct debit, Buy Now, Pay Later (BNPL) services, and cryptocurrencies. If there are no issues, the bank will inform your payment processor that the transaction has been approved.

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How to Choose the Best Credit Card Processing Company for Your Business

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TL;DR Processors act as the middleman between your customer’s card and your bank, but not all are created equal—some offer better service, pricing, and tools than others. Follow a 6-step process to choose the right provider: map your payment needs, shortlist vendors, compare features, request demos, test support, and check scalability.