Payments General

General

What is an Issuing Bank?
The issuing bank is the institution that backs the cardholder’s credit card or other payment method. Typically, issuers are major commercial banks, e.g. Ch...
Fri, 22 Jan, 2021 at 11:39 AM
What is an MSP?
A Merchant Service Provider (MSP) is the company responsible for servicing your merchant account for your acquiring bank and is generally associated with a...
Fri, 22 Jan, 2021 at 11:40 AM
What is AVS?
The Address Verification System (AVS) is a system when connecting to your customers issuing bank through your MSP’s processor, is able to verify whether th...
Fri, 22 Jan, 2021 at 11:41 AM
What is CVV/CV2?
CVV2 (Card Verification Value, Second Generation) is a three-digit value that is uniquely derived for each credit card account. It is printed in reverse it...
Fri, 22 Jan, 2021 at 11:41 AM
What is Friendly Fraud?
Not all claims of fraudulent transactions or customer dissatisfaction are legitimate. In some cases, a consumer abuses the protections of the chargeback pr...
Fri, 22 Jan, 2021 at 11:41 AM
What really happens when you process a credit card?
The credit card processing system has many steps.  Outlined below is a brief description of how a typical credit processing system works. The e-commerc...
Fri, 22 Jan, 2021 at 11:42 AM