A Credit Card Authorization Code, often referred to as an authorization approval code, is a unique alphanumeric code generated by the card issuer’s authorization system in response to a transaction request. It serves as confirmation that the transaction has been approved and allows the merchant to proceed with the sale or service. The purpose of […]
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Authentication
Authentication in the payments industry refers to the process of verifying the identity of individuals or entities involved in a payment transaction to ensure the security and legitimacy of the transaction. It is a critical step in preventing fraud and unauthorized access to sensitive payment information. Authentication methods are used to confirm that the person […]
Merchant Accounts: Low Risk, Mid Risk and High Risk
Merchant accounts are classified as low risk, mid risk, or high risk based on the level of risk associated with the type of business and its history of chargebacks and fraud. Low risk merchant accounts are associated with businesses that have a low likelihood of chargebacks or fraud. These businesses typically sell low-cost, tangible goods […]
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