Who’s Who in a Payments Transaction?

Whether you’re in person or online, using a card account to pay for goods and services is deceptively simple. You input your account details into the yoga studio’s form and usually within seconds, your pass is paid for. The only thing standing between you and unlimited tree poses is your level of motivation. But for…

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How Does a Payment Gateway Work?

Whenever any transaction is initiated, it travels first through an entry point that connects the merchant’s systems to the rest of the payments ecosystem. That entry point is known – appropriately – as a payment gateway.

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What is an Issuing Bank?

When you’re on the acceptance end of payments transactions as a merchant or a payment facilitator, you’re likely most familiar with the role of acquiring banks.
But there’s another banking entity that plays a crucial role in card transactions: the issuing bank.

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Breaking Down the Merchant Onboarding Process

In the traditional world of payment processing, a salesperson might go directly to merchant locations, applications in hand, seeking to sign up new customers. If they were successful, the process to onboard that customer could take weeks while the merchant completed and submitted a lengthy application, the payment provider completed underwriting, and payment devices were delivered to the merchant and set up.

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What is the Definition of a High-Risk Merchant?

While payment facilitators are known for their ability to reduce friction and to quickly underwrite and onboard new merchants, not all merchants are created equal. Some require more due diligence and ongoing risk monitoring than others.

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What is a Payment Processor?

Whether a transaction originates online or in person, completing it safely requires connecting to and securely sharing data among merchants, banks and card networks. Payment processors are the technology companies that sit in the middle of this process.

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Retail ISO vs Wholesale ISO: What’s the Difference?

Before payment facilitators existed, acquirers commonly extended their reach to smaller businesses by working with independent sales organizations, known as ISOs. Sometimes a distinction is made between what are known as retail ISOs and wholesale ISOs. So, what’s the difference?

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What is Embedded Finance?

Historically, financial services have been offered solely by traditional providers such as banks and insurance companies. But a new crop of providers is increasingly offering simpler and more intuitive ways for consumers and businesses alike to access a variety of services.

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