Disadvantages of Tiered Pricing
Introduction Merchants are drawn to tiered pricing due to its structured format, making it seem straightforward at first glance. However, the complexity of how different transactions are categorized gives rise to potential pitfalls that can take time and effort to...
NFC Payments, and How They Work.
Introduction In an increasingly digital world, the way consumers make payments has undergone a significant transformation. One of the most innovative methods to emerge in recent years is Near Field Communication (NFC) payments. This contactless technology allows users...
Understanding Debit Card Processing Fees
Introduction In today's digital landscape, debit cards have become a staple for consumers and businesses alike. While they offer convenience and security, it's essential to understand the backend mechanics of debit card transactions, particularly the processing fees...
Understanding the Interchange Plus Rate Plan
Introduction The interchange plus rate plan is a pricing model that has gained popularity among businesses seeking transparency and cost-effectiveness in their credit card transactions. Unlike flat-rate pricing models, where businesses pay a percentage of each...
Convenience of Mobile Payment Applications
Introduction In today's fast-paced world, mobile payment apps have transformed the way we conduct financial transactions. These applications offer a level of convenience that traditional payment methods cannot match. With just a few taps on a smartphone screen, users...
How does 3D Secure work?
Introduction In the modern landscape of e-commerce, ensuring the security of online transactions is paramount. One of the essential technologies developed to mitigate fraudulent activities during credit and debit card transactions is 3D Secure. Introduced by EMVCo, 3D...
What is the Difference between Voids and Refunds?
Introduction In the realm of financial transactions, the terms "void" and "refund" are often used interchangeably by consumers but embody distinct processes and implications for both merchants and customers. At first glance, these two concepts appear similar since...
Payment Gateway vs Payment Processors
Introduction When it comes to handling credit card transactions, two critical components play distinct roles: payment gateways and payment processors. Understanding their differences is essential for efficient payment processing. Payment Gateway A payment gateway...
AI Dynamic Pricing Strategies
Introduction The retail landscape has undergone a significant transformation in recent years, with the rise of e-commerce and the increasing importance of data-driven decision making. One key area where merchants can leverage this trend is by implementing dynamic...
Difference Between Cash Discount and Surcharge
Introduction When it comes to making a purchase, customers often have to navigate a complex landscape of fees and charges. Two common practices that can be confusing for consumers are cash discounts and surcharges. While both may seem like additional fees, they serve...