Guide to Payment Processing
|
|
- Lynne Gordon
- 7 years ago
- Views:
Transcription
1 Guide to Payment Processing
2 What s Inside: Industry Players Components of Payment Processing Reading Your Merchant Statement Understanding Fees Processing Methods Trends Need-to-Know Vocabulary Guide to Payment Processing 2
3 Industry Players and Their Functions Issuing Bank Credit Card Exchange Processor Card Holder Merchant Site Payment Gateway Acquiring Bank Guide to Payment Processing 3
4 Payment Gateway Process Retrieves credit card data from customer over a secure connection Formats the data and passes it to merchant bank s processor Merchant bank processor submits to the credit card networks who then sends to the issuing bank for approval or denial Responsible for compliance with Visa, MasterCard, Discover, and AMEX rules and regulations Updates its systems with results and sends them back to merchant Can be proprietary or a third-party product Processor Provide outsource processing and support to Issuers, Acquirers, and ISOs Supplies connectivity to the networks for authorization (front-end), clearing, and settlement (back-end) Provides various levels of back office support Offers agreement with one or all of the following: Member Bank, Acquirer, and/or ISO Must comply with network and brand rules and regulations Guide to Payment Processing 4
5 Credit Card Networks (Visa/MC/Discover/AMEX) Regulated financial institution Tier 1 capital requirements Responsible for compliance with Visa, MasterCard, Discover, and AMEX rules and regulations May issue cards and acquire transaction directly May sponsor agents, such as other Acquirers & ISOs Carries and manages ALL risk associated with their agents and customers (merchants) Issuer Holds contract with consumer Issues cards Must be compliant with the networks (Visa, MasterCard, and Discover) Reimbursed by cardholder Bills any fees to cardholder Receives interchange fees from Acquirer Must comply with network and brand rules and regulations Guide to Payment Processing 5
6 Reading Your Merchant Statement B A Sample Payment Card Processing Statement D C A Merchant-specific account details B Merchant name and address information C Total amount due, to be deducted on the 10th of the month D Summary of processing by card type E E F Breakdown of the transaction batch deposits by day Breakdown of fees to be deducted from your account F G Total of all discount and miscellaneous fees that will be deducted from your account G Guide to Payment Processing 6
7 Understanding the Fees Discount Rate This is typically the largest portion of your costs. This can be categorized as either interchange or bundled pricing. Transaction Fees This is a fee that is charged to process each and every transaction. This is typically somewhere between $0.20-$0.45. Monthly Fees This is a fee that is charged on a monthly basis regardless of your credit card processing activity. This can be labeled many ways and an individual organization can have multiple monthly fees. (e.g.: Monthly minimum, PCI Compliance Fee, Non PCI Compliance Fee, etc.) Chargeback/Retrieval Fee This is a fee that is charged when a cardholder disputes a transaction. The cardholder is always given the benefit of the doubt and it s up to the merchant to prove otherwise. Cancellation/Termination Fees If you part ways with your merchant account provider before the term of your contract is up they will most likely charge a fee. Guide to Payment Processing 7
8 Processing Methods Terminal/Virtual Terminal Accepts card-present and card-not-present payments with a web-based virtual terminal Processes payments using any computer with an internet connection Allows for the processing of recurring payments Virtual terminals offer a very easy and non-technical way to process payments Physical terminals now support EMV and Apple Pay as well as other contactless payments Hosted Payment Pages Hosted payment pages provide a secure platform to process payments and offer an easy way to customize their website Reduces your PCS scope because it s hosted by your service provider Pages can be built quickly and deployed immediately Guide to Payment Processing 8
9 Mobile Your mobile device becomes your business headquarters by plugging a card reader into the headphone jack Access a virtual terminal from your smart phone to process one off payments Mobile apps are now designed specifically for organizations and allow payments within the app Payment Gateway/API Integrates seamlessly with your existing software and technology to process all of your credit card and ACH payments Can support tokenization, which substitutes cardholder data for a payment token to help reduce the risk the merchant holds Allows for detailed reporting Guide to Payment Processing 9
10 Payment Processing Trends: What s next? EMV (Europay/MasterCard/Visa) Named after the three companies that established the standard EMV replaces the magnetic stripe reader of a credit card with a chip-based technology Makes the ability to duplicate the chip almost impossible and thus helps prevent fraud Merchants who aren t using equipment that supports chip-based technology are liable for any fraudulent transactions as result Deadline to make this change was October 2015 There will be an increase in online fraud as it becomes harder to do so in a face-to-face environment Guide to Payment Processing 10
11 PCI Compliance: Payment Card Industry Almost 120 million data records were compromised in 2015 across multiple verticals including government, ecommerce, and healthcare Apple, Home Depot, Staples, and Sony were all hacked in some manner in 2014 Level 4 Any merchant processing fewer than 20,000 Visa ecommerce transactions per year, and all other merchants (regardless of acceptance channel) processing up to 1 million Visa transactions per year Self assessment questionnaire Vulnerability Scan (may not be required) Attestation of Compliance Learn more: Guide to Payment Processing 11
12 Mobile Apps Change the way organizations interact with their customers Function as more than just a payment mechanism Make it easier to give as well as putting context around it As mobile use increases, there has to be a strategy to accommodate this giving channel NFC (Near Field Communications) Short-range wireless connectivity technology that enables communication between devices Poised to become the dominant mobile payments technology Use will proliferate as the payments industry consolidates Guide to Payment Processing 12
13 Mike Phelan President Nelnet Transaction Solutions Office: Mobile: Brian McGarry Senior VP of Sales Nelnet Transaction Solutions Office: Mobile: Guide to Payment Processing 13
14 Industry Terms and Definitions Acquirer: Any bank, financial institution, and public or private company that maintains a Seller s credit card processing relationship and receives all transactions from the Seller to be distributed to the credit card-issuing banks. Acquiring Processor: The processor provides credit card processing, billing, reporting, settlement, and operational services to the acquirer. Many financial institutions hire a third party for more cost-effective bankcard processing. Transaction: An act between a Seller and a Cardholder that results in either a paper or an electronic representation of the Cardholder s promise to pay for goods or services received from the act. Independent Sales Organization (ISO): A marketing organization whose primary purpose is to sell card processing services to merchants. ISO s contract with acquiring banks or other ISO s to resell their services. ISO s can be a two man shop or a very large organization such as TSYS. Value Added Reseller (VAR): A company that builds a software package with features and services that meet specific needs of businesses in a defined vertical. NTS will integrate our payment processing solutions into the VAR product. The VAR will sell the solution (usually to end-users) as an integrated product as a complete turn-key solution. Independent Software Vendor (ISV): Write business solution software that may or may not include a payments solution (e.g. Micros, Oracle). The software can be distributed and serviced through a direct sales force, by VARs, or, if cloud-based, remotely. Historically, focus on POS solutions for payments-intensive industries (e.g. retail, restaurants) sought to integrate payments functionality into their solutions. Guide to Payment Processing 14
15 System Integration (SI): The process of bringing together the component subsystems into one system and ensuring that the subsystems function together as a system. Card Brand: Visa, MasterCard, Discover, and American Express are the most prominent types of credit cards. Card Association: A network of issuing banks and acquiring banks that process payment cards of a specific brand. Issuing Bank: A bank that offers card association branded payment cards directly to consumers. The name is derived from the fact that it issues payment to the acquiring bank on behalf of its customer (the purchaser in the transaction). Sponsor Bank: A bank that has obtained membership in Visa or MasterCard in order to allow a processor access to the Visa and MasterCard networks to process transactions. Only a bank may join Visa or MasterCard, many processors make deals with a sponsoring bank in order to gain access to the Visa and MasterCard networks. The sponsoring agreements are usually like a partnership, resulting in the line between the sponsoring banks and their processors unclear; sometimes the partnership is referred to by the name of the bank, while other times they are referred to by the name of the processor. Processor: A company (often a third party) appointed by a merchant to handle transactions from credit and debit cards for merchant-acquiring banks. They are usually broken down into two types: front-end and back-end. Front-End: A company/vendor that provides communication and data processing services for authorization of card payments and the transfer of data between merchant s point-of-sale equipment to the back-end clearing and settlement processor. Examples of front-end processors are TSYS and First Data (Nashville, CardNet, and ETC). Guide to Payment Processing 15
16 Back-End: A data processing company that contracts with acquirers to provide communication and processing systems that connect with the interchange systems for clearing and settlement services on behalf of those acquirers. (In some cases, the acquirer may act as its own back-end processor.) Clearing and Settlement: The acquirer sends the batch transactions through the credit card association, which debits the issuers for payment and credits the acquirer. Essentially, the issuer pays the acquirer for the transaction. Funding: Once the acquirer has been paid, the acquirer pays the merchant. The merchant receives the amount totaling the funds in the batch minus the fees the merchant pays the acquirer for processing the transactions. Interchange: A fee paid between banks for the acceptance of card based transactions. Usually it is a fee that a merchant s bank (the acquiring bank ) pays a customer s bank (the issuing bank ). Assessment Fees: Are a very small flat rate percentage that applies to the total monthly volume on a specific type of card. Guide to Payment Processing 16
Payment Methods. The cost of doing business. Michelle Powell - BASYS Processing, Inc.
Payment Methods The cost of doing business Michelle Powell - BASYS Processing, Inc. You ve got to spend money, to make money Major Industry Topics Industry Process Flow PCI DSS Compliance Risks of Non-Compliance
More informationThe Comprehensive, Yet Concise Guide to Credit Card Processing
The Comprehensive, Yet Concise Guide to Credit Card Processing Written by David Rodwell CreditCardProcessing.net Terms of Use This ebook was created to provide educational information regarding payment
More informationCredit Card Processing, Point of Sale, ecommerce
Credit Card Processing, Point of Sale, ecommerce Compliance, Self Auditing, and More John Benson Kurt Willey HACKS REGULATIONS Greater Risk for Merchants Topics Compliance Changes Scans Self Audits
More informationEMV and Small Merchants:
September 2014 EMV and Small Merchants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service
More informationWe believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating
Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their
More informationGlossary ACH Acquirer Assessments: AVS Authorization Back End: Backbilling Basis Point Batch
Glossary ACH: Automated Clearing House; an electronic payment network most commonly associated with payroll direct deposit, recurring payments, and is the network most commonly used to settle merchant
More informationMerchant Account Glossary of Terms
Merchant Account Glossary of Terms From offshore merchant accounts to the truth behind free merchant accounts, get answers to some of the most common and frequently asked questions. If you cannot find
More informationPayment Card Acceptance Administrative Policy
Administrative Procedure Approved By: Brandon Gilliland, Associate Vice President for Finance & Controller Effective Date: October 1, 2014 History: Approval Date: September 25, 2014 Revisions: Type: Administrative
More informationGLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY
GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY Acquiring Bank The bank or financial institution that accepts credit and/or debit card payments for products or services on behalf
More informationFall Conference November 19 21, 2013 Merchant Card Processing Overview
Fall Conference November 19 21, 2013 Merchant Card Processing Overview Agenda Industry Definition Process Flows Processing Costs Chargeback's Payment Card Industry (PCI) Guidelines for Convenience Fees
More informationThe Cost of Compliance
The Cost of Compliance The Payment Card Industry Data Security Standard (PCI DSS) aims to protect sensitive cardholder data throughout the life cycle of ecommerce transactions. The standard puts heavy
More informationCredit Card Processing Summer Lunch & Learn 2016
AGENDA 1. The Different Ways to Process Cards 2. EMV Chip Cards What You Need to Know 3. Understanding the Industry s Complex Pricing Structure 4. American Express The New Rate/Deposit Plan.Good News!
More informationApple Pay. Frequently Asked Questions UK Launch
Apple Pay Frequently Asked Questions UK Launch Version 1.0 2015 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of
More informationPayment Processing considerations to comply with IRS and PCI-DSS regulations and policies
itransact Presents Payment Processing considerations to comply with IRS and PCI-DSS regulations and policies Learning Objectives At the end of this course you will be able to: Prepare for IRS 6050w and
More informationU.S. Smart Card Migration: Stripe to EMV Claudia Swendseid, Federal Reserve Bank of Minneapolis Terry Dooley, SHAZAM Kristine Oberg, Elavon
U.S. Smart Card Migration: Stripe to EMV Claudia Swendseid, Federal Reserve Bank of Minneapolis Terry Dooley, SHAZAM Kristine Oberg, Elavon UMACHA Navigating Payments 2014 October 8, 2014 Who We Are Claudia
More informationGrow with our omni-channel payment processing technologies and merchant services.
Grow with our omni-channel payment processing technologies and merchant services. Get ready for growth Payment processing solutions ecommerce mcommerce In-app payments Virtual terminal Card present EMV
More informationHow To Comply With The New Credit Card Chip And Pin Card Standards
My main responsibility as a Regional Account Manager for IMD is obtain the absolute lowest possible merchant fees for you as a business. Why? The more customers we can save money, the more volume of business
More informationTrends in Merchant Payment Acceptance
Trends in Merchant Payment Acceptance December 6, 2007 Credit approval required. Merchant accounts are issued through BB&T Bankcard Corporation, a Georgia Corporation, Member FDIC. 2007 BB&T. All rights
More informationCPIM Academy. Cash 257 Merchant Services and Revenue Collection
CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit
More informationAn Education in Merchant Processing
An Education in Merchant Processing Presented by: Michael Mintz COO - AMG Payment Solutions Today s Agenda Introduction and Background Important Industry Terms The Electronic Payment Process Interchange
More informationEMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com
EMV FAQs Contact us at: CS@VancoPayments.com Visit us online: VancoPayments.com What are the benefits of EMV cards to merchants and consumers? What is EMV? The acronym EMV stands for an organization formed
More informationEMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems
October 2014 EMV and Restaurants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service marks
More informationPlotting a Course for EMV Compliance
Plotting a Course for EMV Compliance Plotting a Course for EMV Compliance PCI compliance...emv compliance by now, you ve heard repeatedly that your store or restaurant must be EMV-compliant by the recently
More informationApple Pay. Frequently Asked Questions UK
Apple Pay Frequently Asked Questions UK Version 1.0 (July 2015) First Data Merchant Solutions is a trading name of First Data Europe Limited, a private limited company incorporated in England (company
More informationAmerican Express and Discover are proprietary entities performing the functions of both a card association and an issuing bank.
ELECTRONIC VALUE TRANSFER CONTRACT (EVT) CREDIT CARD BACKGROUND INFORMATION What is a Credit Card? A credit card is a plastic card issued to an individual or business which is accepted by participating
More informationWhat are the PCI DSS requirements? PCI DSS comprises twelve requirements, often referred to as the digital dozen. These define the need to:
What is the PCI standards council? The Payment Card Industry Standards Council is an institution set-up by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International
More information537 G St., Suite 201, Eureka, CA 95501 www.eurekapayments.com
I. Costs of Merchant Processing. This paper provides an overview of the cost drivers for merchant processing; describes how merchant processors categorize merchants and defines the most common types of
More informationOnline Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/)
Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/) The following glossary represents definitions for commonly-used terms in online payment processing. Address
More informationPC-DSS Compliance Strategies. 2011 NDUS CIO Retreat July 27, 2011 Theresa Semmens, CISA
PC-DSS Compliance Strategies 2011 NDUS CIO Retreat July 27, 2011 Theresa Semmens, CISA True or False Now that my institution has outsourced credit card processing, I don t have to worry about compliance?
More informationYour Compliance Classification Level and What it Means
General Information What are the Payment Card Industry (PCI) Data Security Standards? The PCI Data Security Standards represents a common set of industry tools and measurements to help ensure the safe
More informationTable of Contents. Overview. What is payment processing? Who s Who. Types of Payment Solutions. Online Transactions. Interchange Process
Overview Credit Card Processing 101 is your go-to handbook for navigating the payments industry. This document provides a quick and thorough understanding on how businesses accept electronic payments,
More informationPayLeap Guide. One Stop
PayLeap Guide One Stop PayLeap does it all. Take payments in person? Check. Payments over the phone or by mail? Check. Payments from mobile devices? Of course. Online payments? No problem. In addition
More informationA Glossary of Key Terms for the Vendor to Surcharge to Make Card Payments a Price Competitive Payment Channel By: Scott Blakeley, Esq.
A Glossary of Key Terms for the Vendor to Surcharge to Make Card Payments a Price Competitive Payment Channel By: Scott Blakeley, Esq. & Brad Boe Abstract Customers have payment channel choices, whether
More informationPCI 3.1 Changes. Jon Bonham, CISA Coalfire System, Inc.
PCI 3.1 Changes Jon Bonham, CISA Coalfire System, Inc. Agenda Introduction of Coalfire What does this have to do with the business office Changes to version 3.1 EMV P2PE Questions and Answers Contact Information
More informationOpenEdge Research & Development Group April 2015
2015: Security, Merchant Readiness & the Coming Liability Shift OpenEdge Research & Development Group April 2015 solutions@openedgepay.com openedgepay.com 2015: Security, Merchant Table of Contents The
More informationCreditCard Processing. Payment MadeEasier
CreditCard Processing Payment MadeEasier Buyers Guide for Credit Card Processing 1. A Brief Introduction of Credit Card Processing 2. Benefits of Credit Card Processing 3. How to Choose a Service Provider
More informationPOLICY SECTION 509: Electronic Financial Transaction Procedures
Page 1 POLICY SECTION 509: Electronic Financial Transaction Procedures Source: NDSU President NDSU VP for Finance and Administration NDSU VP for Information Technology A. Purpose / Rationale Many NDSU
More informationWhat a Processor Needs from a University to Validate Compliance
What a Processor Needs from a University to Validate Compliance Lisa T. Conroy Merchant Compliance Manager Vantiv May 24, 2016 Disclosures The information included in this presentation is for information
More informationIntroductions 1 min 4
1 2 1 Minute 3 Introductions 1 min 4 5 2 Minutes Briefly Introduce the topics for discussion. We will have time for Q and A following the webinar. 6 Randy - EMV History / Chip Cards /Terminals 5 Minutes
More informationEnterprise Payments for
Enterprise Payments for Table of Contents I. Introducing CardConnect II. III. IV. Gartner Tokenization Reporting Featuring CardConnect PCI Compliance, EMV & True Payment Security CardConnect for SAP V.
More informationPAYMENT CARD INDUSTRY (PCI) COMPLIANCE HISTORY & OVERVIEW
PAYMENT CARD INDUSTRY (PCI) COMPLIANCE HISTORY & OVERVIEW David Kittle Chief Information Officer Chris Ditmarsch Network & Security Administrator Smoker Friendly International / The Cigarette Store Corp
More informationtoast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard
toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard Table of Contents For more than 40 years, merchants and consumers have used magnetic stripe credit cards and compatible
More informationFAQ s for Payment Card Processing at the University
FAQ s for Payment Card Processing at the University 1) We are thinking about taking credit cards for payments. What do we need to know? 2) Who is the PCPC (Payment Card Process Coordinator)? 3) What is
More informationAccepting Credit Cards 101
1 Accepting Credit Cards 101 Payment Cards: A Brief History and the Invention of. The Key Players: The Associations, Member Banks, Processors, Service Providers, Agents, Cardholders, and Merchants : Card
More informationFrequently Asked Questions
PCI Compliance Frequently Asked Questions Table of Content GENERAL INFORMATION... 2 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD (PCI DSS)...2 Are all merchants and service providers required to comply
More informationCash 257 Merchant Services and Revenue Collection
CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit
More informationWritten Questions and Answers
Written Questions and Answers Merchant Card and Managed Tuition Services RFP UK-1679-16 Closing Date: 05/25/2016 Today s Date: 05/04/2016 No. Question Answer Who is the current provider for the Tuition
More informationPROTECTION OF OUR MERCHANTS AND REFERRAL PARTNERS IS OUR FIRST CONCERN
PCI Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information
More informationMobile Banking Card Management
Mobile Banking Card Management MOBILE BANKING THOUGHT LEADERSHIP SERIES DECEMBER 2014 Malauzai Software, Inc. COOL SMARTAPPS EASILY MANAGED EASILY MEASURED Synopsis The future of electronic payments is
More informationPayment Card Industry Data Security Standard Training. Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc.
Payment Card Industry Data Security Standard Training Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc. March 27, 2012 Agenda Check-In 9:00-9:30 PCI Intro and History
More informationPCI DSS Compliance Services January 2016
PCI DSS Compliance Services January 2016 20160104-Galitt-PCI DSS Compliance Services.pptx Agenda 1. Introduction 2. Overview of the PCI DSS standard 3. PCI DSS compliance approach Copyright Galitt 2 Introduction
More informationHow Online Payments Really Work
Insights for Businesses How Online Payments Really Work If you re thinking about setting up an online store, you re in good company. Shoppers are increasingly turning to online options, as their access
More informationA Brand New Checkout Experience
A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small
More informationA Brand New Checkout Experience
A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small
More informationCard Network Update Chip (EMV) Acceptance in the United States At-A-Glance
Card Network Update Chip (EMV) Acceptance in the United States At-A-Glance Allegiance Merchant Services is committed to assisting you in navigating through the various considerations that you may face
More information* Any merchant that has suffered a hack that resulted in an account data compromise may be escalated to a higher validation level.
Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain
More informationPCI Compliance Overview
PCI Compliance Overview 1 PCI DSS Payment Card Industry Data Security Standard Standard that is applied to: Merchants Service Providers (Banks, Third party vendors, gateways) Systems (Hardware, software)
More informationMerchant guide to PCI DSS
Merchant guide to PCI DSS Contents What is PCI DSS and why was it introduced?... 3 Who needs to become PCI DSS compliant?... 3 BOIPA Simple PCI DSS - 3 step approach to helping businesses... 3 What does
More informationPreparing for EMV chip card acceptance
Preparing for EMV chip card acceptance Ben Brown Vice President, Regional Sales Manager, Wells Fargo Merchant Services Lily Page Vice President, Wholesale ereceivables, Wells Fargo Merchant Services June
More informationPayment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire
Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Instructions and Guidelines Version 3.2 May 2016 Document Changes Date Version Description October 1, 2008 1.2 October 28,
More informationFOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION
FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION MAKE THE SWITCH TO MONEXgroup ecommerce I Mobile I Wireless I Integrated I Countertop Solutions PAYMENTS IN-STORE PAYMENTS ON-THE-GO PAYMENTS ONLINE Accept
More informationAdjustment A debit or credit to a cardholder or merchant account to correct a transaction error
Glossary of Terms A ABA Routing Number This 9-digit number is assigned by the American Banker s Association and is used to identify individual banks. When performing an ACH transfer from one bank account
More informationHow To Accept Credit Cards From A Credit Card Provider
This page intentionally left blank START YOUR MERCHANT SERVICES ACCOUNT By Wendy Byford The ebook companion to the elearning module Start Your Merchant Services Account with Wendy Byford & Gary Bauer Start
More informationSecure Credit Card Processing from EPX
The EPX BuyerWall Advantage Secure Credit Card Processing from EPX Revolutionizing the Payments Industry with Secure, Cost-Effective Solutions Realizing the increased focused on PCI-compliance, EPX is
More informationTokenization: FAQs & General Information. www.tsys.com BACKGROUND. GENERAL INFORMATION What is Tokenization?
FAQ Tokenization: FAQs & General Information BACKGROUND As technology evolves, consumers are increasingly making their purchases online or through mobile devices and digital wallet applications and their
More informationQ: What is PCI? Q: To whom does PCI apply? Q: Where can I find the PCI Data Security Standards (PCI DSS)? Q: What are the PCI compliance deadlines?
Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain
More informationPCI Compliance: How to ensure customer cardholder data is handled with care
PCI Compliance: How to ensure customer cardholder data is handled with care Choosing a safe payment process for your business Contents Contents 2 Executive Summary 3 PCI compliance and accreditation 4
More informationRFP#15-20 EXHIBIT E MERCHANT SERVICES INFORMATION SHEET
RFP#15-20 EXHIBIT E MERCHANT SERVICES INFORMATION SHEET A. Merchant Credit Card Processing 1. Describe your company s authorization method; list and describe alternative authorization methods. 2. What
More informationPayments Industry Glossary
Payments Industry Glossary 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this material are the property of their respective owners. A ACH: Automated Clearing
More informationSecure Payments Framework Workgroup
Secure Payments Framework Workgroup EMV for the US Hospitality Industry Version 1.0 About HTNG Hotel Technology Next Generation (HTNG) is a non-profit association with a mission to foster, through collaboration
More informationOffice of Finance and Treasury
Office of Finance and Treasury How to Accept & Process Credit and Debit Card Transactions Procedure Related Policy Title Credit Card Processing Policy For University Merchant Locations Responsible Executive
More informationMitigating Fraud Risk Through Card Data Verification
Risk Management Best Practices 11 September 2014 Mitigating Fraud Risk Through Card Data Verification AP, Canada, CEMEA, LAC, U.S. Issuers, Processors With a number of cardholder payment options (e.g.,
More informationHow Do I Understand Credit Card Processing Fees?
How Do I Understand Credit Card Processing Fees? Credit card processing rates and fees are often misunderstood and confusing, so we are committed to helping you understand the various costs associated
More informationMerchant Processing. Trends and Truths. Roger Raney TransFirst Regional Sales Manager rraney@transfirst.com 941.704.5858
Merchant Processing Trends and Truths Karen Miles US Rice Producers Association Financial Director karen@usriceproducers.com 713.974.7423 Roger Raney TransFirst Regional Sales Manager rraney@transfirst.com
More informationTREASURER S OFFICE ADMINISTRATIVE STANDARDS FOR THE TREASURER S FISCAL PROCEDURE No. 08-01 MERCHANT DEBIT AND CREDIT CARD RECEIPTS
TREASURER S OFFICE ADMINISTRATIVE STANDARDS FOR THE TREASURER S FISCAL PROCEDURE No. 08-01 MERCHANT DEBIT AND CREDIT CARD RECEIPTS 1. Introduction Debit and Credit Card Receipt Standards apply to the administration
More informationOpenEdge Research & Development Group April 2015
2015: Development, Merchant Readiness & the Coming Liability Shift OpenEdge Research & Development Group April 2015 developers@openedgepay.com openedgepay.com 2015: Development, Merchant Table of Contents
More informationCREDIT CARD PROCESSING GLOSSARY OF TERMS
CREDIT CARD PROCESSING GLOSSARY OF TERMS 3DES A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES.
More informationWho Are The Parties Involved In Credit Card Processing?
Who Are The Parties Involved In Credit Card Processing? Often one of the hardest and most frustrating things that a business owner must encounter when starting and running a business is choosing the right
More informationPCI Risks and Compliance Considerations
PCI Risks and Compliance Considerations July 21, 2015 Stephen Ramminger, Senior Business Operations Manager, ControlScan Jon Uyterlinde, Product Manager, Merchant Services, SVB Agenda 1 2 3 4 5 6 7 8 Introduction
More informationEmerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER
Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER SHAZAM, Senior Vice President Agenda The Ugly Fraud The Bad EMV? The Good Tokenization and Other Emerging Payment Options
More informationE-Commerce SOLUTIONS. Generate Online Revenue with E-Commerce Solutions. www.monexgroup.com
E-Commerce SOLUTIONS In this report, MONEXgroup examines various types of online payment processing and E-Commerce Solutions. The tremendous transition towards online shopping stores in Canada has opened
More informationWhat is EMV? What is different?
U.S. consumers are receiving new debit and credit cards with embedded chip technology that better stores and protects cardholder information. These new chip cards are part of the new card standard, Europay,
More informationIT Security Compliance PCI DSS FOR MERCHANTS THE PAYMENT CARD INDUSTRY DATE SECURITY STANDARD WHITE PAPER
July 9 th, 2012 Prepared By: Mark Akins PCI QSA, CISSP, CISA WHITE PAPER IT Security Compliance PCI DSS FOR MERCHANTS THE PAYMENT CARD INDUSTRY DATE SECURITY STANDARD PCI DSS for Merchants The Payment
More informationAll Things Payments & EMV. www.thestrawgroup.com / www.paymentspulse.com
All Things Payments & EMV www.thestrawgroup.com / www.paymentspulse.com Section 1: Payments Primer History and major payments milestones Merchants having the ability to accept card brands is the foundation
More informationFrequently Asked Questions
I ccount Information System (IS) Program Frequently sked Questions Q What is IS? ccount Information Security, or IS, is a Risk Management program by Visa aimed to protect account and/or transaction information
More informationHeartland Secure. By: Michael English. A Heartland Payment Systems White Paper 2014. Executive Director, Product Development
A Heartland Payment Systems White Paper 2014 Heartland Secure. By: Michael English Executive Director, Product Development 2014 Heartland Payment Systems. All trademarks, service marks and trade names
More informationSaint Louis University Merchant Card Processing Policy & Procedures
Saint Louis University Merchant Card Processing Policy & Procedures Overview: Policies and procedures for processing credit card transactions and properly storing credit card data physically and electronically.
More informationHow To Protect Your Credit Card Information From Being Stolen
Visa Account Information Security Tool Kit Welcome to the Visa Account Information Security Program 2 Contents 1. Securing cardholder data is everyone s concern 4 2. Visa Account Information Security (AIS)
More informationWhat Every Business Should Know About PCI Compliance
What Every Business Should Know About PCI Compliance www.bullseyetelecom.com As technology advances, identity thieves are also finding easier ways to steal vital information such as credit card data. Businesses
More informationwelcome to liber8:payment
liber8:payment welcome to liber8:payment Our self-service kiosks free up staff time and improve the overall patron experience. liber8:payment further enhances these benefits by providing the convenience
More informationJCharge White Paper. Merchant, Acquirer, Bank, Authorization Network
JCharge White Paper A company using an IBM iseries (AS/400) has several methods from which to choose in taking credit card payments. Whether the payments are for retail, mail order, phone order, or Internet
More informationRevenue Security and Efficiency
Revenue Security and Efficiency Discussion with the Mid-Atlantic Oracle Applications Users Group CardConnect Solution Oracle EBS Validated Application Oracle EBS Validated Application Securing Payment
More informationThe Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group
The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group Abstract: Visa Inc. and MasterCard recently announced plans to accelerate chip migration in the
More informationMobile Near-Field Communications (NFC) Payments
Mobile Near-Field Communications (NFC) Payments OCTOBER 2013 GENERAL INFORMATION American Express continues to develop its infrastructure and capabilities to support growing market interest in mobile payments
More informationPayment Card Industry Data Security Standard (PCI DSS) Q & A November 6, 2008
Payment Card Industry Data Security Standard (PCI DSS) Q & A November 6, 2008 What is the PCI DSS? And what do the acronyms CISP, SDP, DSOP and DISC stand for? The PCI DSS is a set of comprehensive requirements
More informationSuzanne Niederhofer, Assistant Finance and Administrative Services Director Patty J. Kong, Finance and Administrative Services Director
Attachment 8 MEMORANDUM Finance and Administrative Services Department DATE: TO: FROM: VIA: SUBJECT: City Council Suzanne Niederhofer, Assistant Finance and Administrative Services Director Patty J. Kong,
More informationAmerican Express Data Security Operating Policy United States
American Express Data Security Operating Policy United States As a leader in consumer protection, American Express has a long-standing commitment to protect Cardmember Information, ensuring that it is
More informationHow To Protect Your Restaurant From A Data Security Breach
NAVIGATING THE PAYMENTS AND SECURITY LANDSCAPE Payment disruptions impacting restaurant owners today An NCR Hospitality white paper Almost every month we hear a news story about another data breach that
More informationPayment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire
Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Instructions and Guidelines Version 1.1 February 2008 Table of Contents About this Document... 1 PCI Data Security Standard
More information