A third-party sales organization that signs Merchants up to accept Credit Cards on behalf of one or more Acquiring Banks. ......
An account issued by an Acquiring Bank that allows a business to accept Credit and debit cards. ......
A third party that helps Merchants accept and facilitate payments. ......
A unique nine-digit number assigned to each banking institution, used to identify the bank and direct ACH debits and credits. The ABA routing number is usually found at the bottom of a personal or business check. ......
Advanced Programming Interface – APIs allow users to program to a pre-constructed interface, instead of individually programming a device or piece of software. ......
Payment gateway usually charges merchants a small amount for those approved transactions.The amount ranges from 0.10USD to 1.00USD,and it will not be returned even the transaction was refunded or charged back later.This small amount is called fixed fee in ipasspay. ......
Usually 10% of the order amount will be holded by the payment service provider,and not be sent to the merchants' balance until 180 days later. We call the amount as rolling reserve.This is a anti-risk method taken by the PSP. ......
For those transactions processed successfully through the payment gateway, merchants can check them at merchant dashboard easily, but they can not withdraw the funds to their bank account immediately due to settlement cycle rules. ......
Withdraw: It's a process that you request your funds in merchant account with ipasspay.com to be wired to your own bank account. Withdrawal fee: Merchants are to be charged a small amount when withdraw money from merchant account. Although merchants can be settled by daily utmost to get cash,i ......
Buy rate,or you can call it "Discount Rate".It is charged by the gateway when processing transactions successfully.It is usually a percentage of the order amount. ......
SHA-256 (256 bit) is part of SHA-2 set of cryptographic hash functions, designed by the U.S. National Security Agency (NSA) and published in 2001 by the NIST as a U.S. Federal Information Processing Standard (FIPS). A hash function is an algorithm that transforms (hashes) an arbitrary set of data el ......
This term is also used to refer to web interfaces for processing card not present transactions. Such terminals allow call centre agents to enter a customer's credit card details to take a payment. KNown as card-not-present payments, merchants or customers enter credit card payment information within ......
It is absolutely essential to understand what a chargeback is and how it affects a business’s bottom line. Answering the question, “what is a chargeback?” is the first step towards implementing an effective management solution. ......
'Chargeback' is the term used for debiting a merchant’s bank account with the amount of a transaction that had previously been credited. There are a number of different reasons why a transaction will be charged back, but they mainly fall into two categories: ......
1. Unauthorised Mail/Telephone Transaction Occurred because the cardholder denies participation in this transaction. You can avoid this by ensuring that you are authorised to accept Mail Order/Telephone Order (MOTO) transactions and being more alert and getting as much customer identification as p ......
