Merchant Services FeesEvery large-size merchant, PSP or MSP needs to review its merchant services arrangement from time to time. Some new arrangement can allow a business to save some money on merchant services fees.For example, a payment service provider can optimize its transaction routing strategy. Amex card transactions can be routed ...
Read more
James Davis
Senior Technical Writer at United Thinkers
Merchant Services FeesWhen a merchant is approached by one or several processors, offering different pricing options, he needs to understand what groups of merchant services fees will represent the most considerable part of the processor's revenue.If a merchant processes large transaction volumes, then the major component in the total amount of ...
Read moreToday the process of migration from one processor to another is much more complicated than before, especially from the viewpoint of payment facilitators and payment service providers.Traditionally the only thing that had to be taken care of when a processor was changed, was reconciliation and settlement mechanism.Several important components involved in ...
Read moreMerchant services companies, located in the US often reject merchant account applications, coming from small-size startup merchants, coming from other countries. MSPs are reluctant to deal with them because of several reasons.Startup Merchant First, if a company is processing transaction volumes, which look insignificant to a US MSP, the MSP will not ...
Read moreThere are three general approaches, which are commonly used to move the funds between different places (such as bank accounts).Bank wires(often referred to as bank transfers) do not take long to clear and are, perhaps, the simplest and the most common way to move your money from one place to another. ...
Read moreIn essence, recurring billing is a cyclic process, involving several key stages. These include invoicing, balancing (outstanding debts are balanced against the invoices), billing itself, processing of the claims, handling of declined payments, and assessment of fees (such as late fees or decline fees). Each stage has its own peculiarities, and, depending ...
Read moreMany recurring billing businesses at the market consult BIN files to get useful information concerning transactions they process, cards they accept (or do not accept), and issuers of these cards.Some companies turn to BIN files to filter out pre-paid and gift cards, which many customers use to pay for low-cost subscriptions ...
Read morePA-DSS CertificationPA-DSS is a universal data security standard to be followed by payment software vendor companies. Being a complex multi-phase process, PA-DSS certification might present a challenge for payment application developers. In order to go through PA-DSS certification process successfully, one needs to understand the key phases of PA-DSS audit procedure.These ...
Read moreCredit card BIN file is a useful source of information, that merchants can utilize in their processing strategies. BIN ranges of cards can tell a lot: from card issuing bank and country of issue, to card class. Beside the issuing bank, the BIN range of a card carries information about maximal ...
Read moreThe simple residual revenue sharing mechanism envisioned a simple splitting of a merchant fee charged for transaction processing, among several parties involved in the process. These parties included the association (Visa, MasterCard), transaction processors, and, possibly, merchant services providers.Recent developments, witnessed in the merchant services industry, call for introduction of new, ...
Read moreEMV Integration-Related LogicIn view of the approaching transition to mandatory support of EMV standard by US merchants, it is important for payment gateway software developers to understand the key features they need to add to their products to be able to make perform EMV integrations as smoothly as possible. Particularly, the ...
Read moreIs the choice of EMV standard a conscious choice? This is the question many merchants might ask in view of the approaching deadline for mandatory support of EMV cards (October 2015). Why should a business switch to EMV cards and terminals, if EMV technology does not guarantee ultimate protection against credit ...
Read moreNew York, NY – (Jan 14, 2015): United Thinkers, a New-York based commercial open-source Payment Management Software provider announces the completion of integration with Encrypted Swipers ID TECH, one of the most experienced, reliable and innovative providers of secure transaction technology to the payment card industry.To meet the needs of retail ...
Read moreUnited Thinkers completes 2014 with a record number of installations of its UniPay Payment Management Platform, mostly replacing legacy mainframe-based payment solutions with Web based solutions.New York, NY – (December 18, 2014): UniPay Payment Management Platform, the flagship product of United Thinkers, a New-York based commercial open-source Payment Management Software provider, ...
Read moreData archiving can be a challenge with any database system. Particularly, transaction data archiving presents significant problems for many database systems in payment industry. Accumulate Transactional Data Companies with high transactional throughput have to store enormous data volumes, because they accumulate transactional data very fast. Transactional data has to be stored and easily ...
Read more