Remove compliance Remove Point of Sale Remove Software Development
article thumbnail

Glossary: 117 software-led payments terms to know

Payrix

Check verification Process that screens checks and check-writers against a negative database at the point-of-sale (POS) when the customer presents a check as payment. Duplicate checking The policy and procedures that prevent identical sales records from being processed. eCheck, PayPal, etc.)

article thumbnail

Glossary: 117 software-led payments terms to know

Payrix

Check verification Process that screens checks and check-writers against a negative database at the point-of-sale (POS) when the customer presents a check as payment. Duplicate checking The policy and procedures that prevent identical sales records from being processed. eCheck, PayPal, etc.)

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Stax

FIS Global reports that in Norway, Sweden, and other Scandinavian countries, more than 90% of transactions processed at point-of-sale (POS) in 2023 were cashless. The writing on the wall is clear—businesses need to start accepting digital payments and software providers need to start offering payment services one way or another.

article thumbnail

What is Embedded Finance and Embedded Fintech?

Stax

Some challenges and considerations of embedded finance and fintech involve regulatory and compliance issues, data privacy and security, and stiff competition. Embedded Insurance Embedded insurance allows customers to purchase insurance for products or services at the point of sale.

article thumbnail

The Benefits of SaaS and Implementing SaaS Payments

Stax

What’s more, users don’t need to bear the cost of maintaining or updating the software. It’s hosted on the cloud and software providers are responsible for software development, maintenance, and releasing updates. Generally, pay-as-you-go pricing options are available so you pay only when you use the software.

article thumbnail

Ecommerce Terms You Need To Know To Manage Your Digital Business

FastSpring

A software development technique—a variant of the service-oriented architecture (SOA) architectural style that structures an application as a collection of loosely coupled services. Payment Card Industry compliance (PCI). In computing, a software component that adds a specific feature to an existing computer program.

article thumbnail

100+ Essential Payment & Funds Disbursement Acronyms

USIO

Core Payment Acronyms ACH Automated Clearing House RTP Real-Time Payments RTGS Real-Time Gross Settlement EFT Electronic Funds Transfer NACHA National Automated Clearing House Association POS Point of Sale PIN Personal Identification Number EMV Europay, Mastercard, Visa NFC Near Field Communication CVV Card Verification Value CNP Card Not (..)