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How to Maintain Anti-Money Laundering Compliance as a PayFac

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The US, therefore, requires financial institutions as well as financial services firms to have anti-money laundering (or AML) compliance programs in place. In this article, we’ll discuss everything you need to know about ensuring AML compliance as a payment facilitator (or PayFac). Non-compliance can have major implications.

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ISVs vs SaaS: What’s the Difference?

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TL;DR ISVs develop and distribute software products independently and often collaborate with hardware manufacturers and platform providers. While they operate under different business models, ISVs and SaaS share similarities in software development, cross-platform accessibility, and industry reach. Learn More What are ISVs?

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Everything You Need to Know About Secure Payment Processing Systems

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Compliance with these standards ensures that merchants and payment processors implement robust security measures to safeguard financial data. Compliance with PCI DSS is mandatory for businesses that handle credit card transactions. We use a host of security measures to prevent fraud and ensure PCI compliance across all of our products.

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What is an Online Terminal and Why Do Merchants Need One?

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Secure Transactions: Online terminals incorporate security protocols like SSL encryption, tokenization, and Payment Card Industry Data Security Standards (PCI DSS) compliance. Service providers Service-oriented businesses, be they spas or consultancy agencies, find a valuable solution in online terminals.

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Understanding Payment Processing Compliance When Implementing Credit Card Surcharging

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Learn how to achieve payment processing compliance when surcharging to improve your company’s financial stability and reputation. PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. In case of ambiguities, don’t hesitate to consult with state regulators.

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What Is Data Tokenization and How Does It Work?

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Moreover, companies need to follow data privacy and compliance requirements to stay in business. Besides the enhanced data security, other benefits include reduced risk of breaches, easier regulatory compliance, and compatibility with legacy systems.

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ISV vs PayFac: The Similarities and Differences Between Independent Software Vendors and Payment Facilitators

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TL;DR An independent software vendor (ISV) develops and sells software applications independently of hardware manufacturers. In the ISO model, an ISV partners with a third party that handles merchant account setup, payment processing, risk, and compliance.