A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many of the new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase.
Electronic funds transfer at point of sale is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s.
Mastercard Inc. is the second-largest payment-processing corporation worldwide. It offers a range of payment transaction processing and other related-payment services. Its headquarters are in Purchase, New York. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
An e-commerce payment system facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.
A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or member service provider (MSP) is also a party to the merchant agreement. Whether a merchant enters into a merchant agreement directly with an acquiring bank or through an aggregator, the agreement contractually binds the merchant to obey the operating regulations established by the card associations. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high-risk nature by the banks and credit card processors. The industries that possess this account are adult industry, travel, Forex trading business, multilevel marketing business. "High-Risk" is the term that is used by the acquiring banks to signify industries or merchants that are involved with the higher financial risk.
An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network.
Gemalto was an international digital security company providing software applications, secure personal devices such as smart cards and tokens, e-wallets and managed services. It was formed in June 2006 by the merger of two companies, Axalto and Gemplus International. Gemalto N.V.'s revenue in 2018 was €2.969 billion.
Merchant services is a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC/RFID enabled device. More generally, the term may include:
Moneris is a Canadian financial technology company that specializes in payment processing.
The payment card industry (PCI) denotes the debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses.
A controlled payment number, disposable credit card or virtual credit card is an alias for a credit card number, with a limited number of transactions, and an expiration date between two and twelve months from the issue date. This "alias" number is indistinguishable from an ordinary credit card number, and the user's actual credit card number is never revealed to the merchant.
63 Moons Technologies Limited, formerly Financial Technologies (India) Limited until 2016, is an Indian company which provides technology ventures, financial platforms and solutions for creating digital markets and marketplaces. It is headquartered in Mumbai, India. It was formed in 1988 and funded by Jignesh Shah. The company offers technology intellectual property to create and trade on financial markets. It had its first IPO in 1995. The company introduced its first commodity derivatives trading platform, the Multi Commodity Exchange (MCX) in 2003. FTIL has divested of its domestic and international ventures.
The National Payments Corporation of India is an organization that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
Debit Mastercard is a brand of debit cards provided by Mastercard. They use the same systems as standard Mastercard credit cards but they do not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.
Chase Paymentech is a payment processing and merchant acquiring business of JPMorgan Chase. Paymentech payment platforms supports businesses to process payments. Paymentech authorises payment transactions in more than 130 currencies. In addition to this, the company provides business analytics, payment fraud detection, and data security solutions.
Worldpay, Inc. was an American payment processing company and technology provider. In June 2019 it was acquired and merged into Fidelity National Information Services (FIS). Before its acquisition, it was headquartered in the greater Cincinnati, Ohio area. Worldpay, Inc., was the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
Ukrainian Processing Center is a Ukrainian company founded in 1997 which provides processing services and software for banks. UPC was the first Ukrainian company within the sphere of processing that received MSP and TPP status in Visa and Mastercard. In April 1997 UPC processed the first ATM EC/MC card transaction. Since 2005 UPC has become part of the Raiffeisen Bank International. The head office of UPC is based in Kyiv. Ukrainian Processing Center provides services to banks in Central and East Europe in the sphere of processing payment cards, merchant acquiring and ATM channel management. UPC also offers integrated IT systems for electronic commerce, card transactions monitoring systems of fraud prevention, card issuing system and SMS banking service. Moreover, UPC was the initiator of the establishment of the united ATM network "ATMoSphere", which consists of payment cards issuing banks. Annually UPC processes more than 400 million of payment card transactions.
gh-link is GhIPSS’ interbank switching and processing system which interconnects financial institutions and systems of third party payment service providers. gh-link is a local electronic payment ecosystem based on the domestic ATM card with channels such as ATM, POS and Web.
SIA S.p.A. is an Italian company operating in the area of ICT, providing services to the banking and finance sector in addition to platforms for financial markets and e-payment services.
