Merchant account checklist
Individuals and companies that wish to conduct online payment transactions are required to obtain a merchant account. Opening a merchant account can be a particularly complex, time consuming and stressful to many therefore, it is advised to seek the assistance of a professional consultancy firm to ensure the process is completed in a professional and timely manner…
What is online billing
Online billing is a process of paying bills through using online card solutions such as credit or debit card payment. It is an increasingly popular method of conducting payment transactions as it is accessible to individuals worldwide. The method of online billing is an…
Electronic Funds Transfer Act
EFT stands for Electronic Funds Transfer and the EFTA stands for the Electronic Funds Transfer Act of 1987. The impetus behind the EFTA 1978 was to protect individuals engaging in electronic fund transfers. The EFTA 1978 is enforced through ‘Regulation E’ which is a…
What is PCI compliant
The term PCI is an abbreviation for Payment Card Industry. Retailers and merchants that wish to accept and process card holder data are required to conform to a set of requirements as stipulated by the payment card industry data security standard (PCI DSS)…
Disadvantages of cheques
Cheques are a traditional form of offline payment solutions that enable individuals and companies to pay for goods and services. This form of payment often causes delays in completing a transaction as they usually have a certain date that they are signed for…
Why offer mobile payment solutions
Mobile payment processing is a type of online payment solution that requires making payment transactions through a mobile device. Through offering mobile payment solutions, retailers are able to cater to a wide range of individuals across the globe…
What is a credit card
A credit card is a type of money card that gives the holder a certain amount of money they can spend at a repayable and competitive interest rate. Credit cards are available worldwide and are typically offered to individuals and companies…
What is credit card processing
Credit card processing is a system designed to facilitate the use of credit card payments and transactions in a number of industries, whether over the internet or within a physical capacity. For web-based credit card processing, internet merchants are able to provide…
Processing of bank wires
Bank wires are a widely used method of making offline payment transactions. The process of bank wires is an effective payment processing solution used by many online retailers and ecommerce businesses. Bank wires are an electronic transfer of funds from one…
What is an offline payment solution
An offline payment solution is the opposite of an online payment solution in that it does not involve an internet platform or website to be used by a company or individual. Offline payment solutions can come in a variety of forms and will typically reflect the type of company…
