Get ready for biometric payments

  Tech define bio-metrics in the payments context as ” a point-of-sale technology that uses bio-metric authentication to identify the user and authorize the deduction of funds from a bank account.” Bio-metric payments today are typically generated through a mobile or wearable device and use two-factor authentication methods, such as personal identification numbers (PINs)…

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Credit Card Payment Aggregation

Payment aggregation concept Payment aggregation as a concept exists in two aspects covered below. Straight aggregation Historically payment aggregation was used to give payment processing capabilities to those businesses, which wouldn’t be able to go through merchant services underwriting otherwise. A central company (PSP) would get underwritten, have its own agreement with a processor and…

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MasterCard Transaction Process ?

  Step 1: The customer pays with Mastercard The customer purchases goods/services from a merchant. Step 2: The payment is authenticated The merchant point-of-sale system captures the customer’s account information and securely sends it to the acquirer. Step 3: The transaction is submitted The merchant acquirer asks Mastercard to get an authorization from the customer’s…

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How many VISA transaction per day?

With Visa, you can scale your business to conduct speedy transactions in person or online, knowing the world’s largest retail electronic payments processing network is behind you. VisaNet handles an average of 150 million transactions every day and is capable of handling more than 24,000 transactions per second.

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VSR’s most recent report, State of the POS Market, delved into some of the leading reasons retailers are looking to upgrade their solutions. By keeping this in mind, developers can craft a compelling product that appeals to their target audience. From the biggest priority to the least, here are some of the top reasons for…

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