Subscription billing is a payment model where a customer is charged a recurring fee, typically on a monthly or annual basis, for access to a product or service. This can be used in a wide range of businesses, such as software, streaming services, magazines, and more. Subscription billing allows customers to pay for the service […]
A match list, also sometimes known as a “terminated merchant file” or TMF, is a list of merchants who have been terminated from being able to process payments through a particular payment processor or acquiring bank. There are several reasons a merchant might end up on a match list, including: A TMF account is an […]
Interchange is the fee that card issuers, such as Visa and Mastercard, charge merchants for accepting their credit or debit cards as a form of payment. These fees are intended to cover the cost of processing and settling the transaction, and are typically a percentage of the total transaction amount plus a fixed fee. Interchange […]
Ecommerce, short for electronic commerce, refers to the buying and selling of goods and services through the Internet. This includes a wide variety of activities, such as online shopping, online auctions, and the purchase of digital products and services. An ecommerce platform is a software application that enables businesses to manage and sell products and […]
A payment gateway is a software that connects a merchant’s website to the payment processor and enables the merchant to accept electronic payments. It is an essential component of e-commerce and retail businesses that want to accept credit card and debit card payments online. In e-commerce and retail, a payment gateway acts as an intermediary […]
Tokenization is a technique used to protect sensitive information, such as credit card numbers, when making transactions. It is a method used to reduce the risk of sensitive data breaches, and to meet PCI-DSS compliance requirements. Tokenization works by replacing sensitive data, such as a credit card number, with a unique placeholder called a “token.” […]
An acquiring bank, also known as a “merchant acquirer,” is a financial institution that partners with merchants to process credit and debit card transactions. Acquiring banks provide merchants with the ability to accept card payments by establishing a merchant account and providing a payment processing service. When a customer makes a purchase from a merchant, […]
A chargeback is a process in which a customer disputes a credit or debit card transaction and requests a refund from their card issuer. The customer may initiate a chargeback if they believe that a transaction was unauthorized, if they did not receive the goods or services they paid for, or if the transaction was […]
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