Category Archives: Point of Sale Systems

Information about Point of Sale Systems; including POS machines, credit card machines and card swipers.

Merchant ID Number

Complete Guide to Merchant ID (MID) Number Lookup Payment processing is not just about your usual payment transfers. It also includes other transactions such as refunds, rebills, and chargebacks between you, your acquiring and issuing bank, and your customers. In every transaction that occurs in your account, your merchant ID number is used. It is…
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ACH Payment Guide

ACH Payment Guide You might not know it, but ACH payments have almost certainly served you somewhere, sometime in your everyday life. When your hard-earned salary has been automatically deposited to your bank account on payday, that’s the work of an ACH. Conceptualized in the late 1960s in the United States, ACH, or Automated Clearing…
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What is a Chargeback?

Credit Card and Bank Chargebacks Explained: Why They Happen and How You Can Fight Back A chargeback is defined as the act of reversing a payment and returning funds to a customer. At first glance, a credit card chargeback may seem like traditional refund, but there is one crucial difference. Rather than reaching out to…
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Difference Between Acquiring Banks and Issuing Banks

Difference between Acquiring Banks and Issuing Banks What is an acquiring bank, and what is its role in the eCommerce payment process? Furthermore, you might also want to know more about its counterpart, the issuing bank. So, read on to learn more about the biggest players in eCommerce, including the biggest card networks Visa, MasterCard,…
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EMV Chip Card

Frequently Asked Questions on EMV Chip Cards EMV is a form of standard smart payment which initially started in the late 1960s to 1970s. In the latest years, it has replaced the old chip and pin credit cards. The rising number of unauthorized transactions, card theft, and fraud have led to the wide use of…
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What is an eCheck?

What is an eCheck? Electronic check, or echecks, are one of the best conveniences of modern-day banking. Aside from doing away with the wasteful and traditional check processing, using an e check is faster and made even more secure with top-of-the line risk management systems in place. Did you know that the majority in the…
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