Key Takeaways Key Costs in Setting Up a PSP: Establishing a PSP involves significant expenses, including gateway software licenses, tokenization appliances, annual PCI audits, and integration with banks and processors. These are essential for setting up the business. Partnerships and Technology: Building relationships with acquiring banks, gateway partners, and processors is crucial. The ...
Read moreUniPay-to-UniPay integration UniPay-to-UniPay integration provides a conceptually new approach for merchants and payment facilitators that face the need to integrate with some payment processors. Integration “from scratch” involves multiple phases: each function (such as real-time and batch processing, tokenization, merchant on-boarding, and others) has to be re-certified with each new bank or processor ...
Read moreThe benefits of Payment Terminal Cloud Solution A payment cloud terminal solution just looks more organized than a non-cloud solution, does it? That’s because modern cloud terminal solutions have learned lessons from the past and now bring credit card processing into the future. With the cloud approach, a credit card terminal can ...
Read moreBank account transfers are widely used by businesses all around the globe. But the process of transferring money between bank accounts differs depending on the country. And if you want to add this functionality to your payment gateway you need to be aware of the peculiarities of the one or two-phase systems ...
Read moreOnline businesses are constantly emerging. And all of them need to rely on some payment gateway in order to accept payments online. Taking into account the international nature of modern businesses it is extremely important for a payment system to be available 24/7, but problems may occur from time to time. So ...
Read moreA commercial open source payment gateway has many benefits over proprietary commercial software or building your own payment solution. Creating a fully functional payment gateway can be a real challenge when you try to build something of your own and go it alone, but choosing open source means choosing a world of ...
Read moreWeb-based merchants considering their payment gateway choices must keep several things in mind to make the best possible decision. It’s important to keep fees, ease of integration, customer awareness, brandability and funding speed in mind when choosing the best payment gateway for your business. Have you considered all the variables? How to ...
Read moreTo accept payments online, businesses must rely on a third party payment processors. There are three types of these: a payment service provider, a payment facilitator and a payment aggregator. So what are the differences between these payment processors? Payment processors A payment service provider (PSP) is a company that provides merchants with ...
Read moreQuestions To Consider When Choosing A Payment Gateway One of the most frequently asked question is how to choose a payment gateway which will meet the specific requirements of your business from the great amount of the available ones. There are a lot of things which you need to analyze carefully in order ...
Read moreWhat's the difference between Integrated And Semi-integrated Solutions? The key difference between integrated and semi-integrated payment terminal solutions is as follows. In an integrated payment terminal solution cardholder data is transmitted from the point of card entry (i.e. payment terminal) to the point-of-sale (POS) application, which then passes it to the payment ...
Read moreThe two most significant advantages of point-to-point encryption (P2PE) If card data, transmitted from the terminal to the POS application (and on, to the payment gateway), is encrypted, the merchant application does not handle card numbers and the merchant’s PCI scope is reduced. Also point-to-point encryption provides an additional credit card fraud ...
Read moreKey stages of transaction processing lifecycle Transaction processing lifecycle involves several key stages. UniPay platform is involved in most of them. Payments of different types are submitted to the system using various entry modes (chipped card, magnetic swipe, etc.) and devices (payment terminals, mobile devices, etc.). Recurring billing is handled by the ...
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 moreMerchant fraud can often be detected by some kind of untypical behavior of the merchant. Deviations from historical averages of processed transaction volumes, abrupt change in processing patterns, untypical processing hours and entry modes, large numbers of even-amount transactions, long-term inactivity of the account – these are the criteria, signifying potential ...
Read moreWhat is a Payment System Integration? Payment System Integration is quite a complex multi-stage procedure. However, the result is worth the efforts. All the works related to integration with a payment processor have to be done in constant close cooperation with the processor’s representatives. The processor has to open the project, assign ...
Read moreHaving worked in the industry for a long time, we know what a challenge it is to select optimal credit card processing and payment gateway solutions for your company. Rather than finding a provider that offers the lowest credit card processing fees, you need to choose the optimal solution based on many interconnected criteria. It is often hard to set the priorities among these factors and sort through the vast amounts of information on credit card processing companies and potential payment gateway partners.
The nature of your business determines the range of questions you might have about processing credit card and other payments. Small to medium-sized merchants, payment facilitators, service providers, payment software companies, and online marketplace owners must address their credit card payment processing needs according to their distinct business models.
Common credit card processing needs and questions
Our existing and potential customers include various categories of businesses, including the following ones:
- startup companies,
- conventional merchants of different scale,
- payment facilitator companies,
- independent sales organizations, that want to switch to a new business model,
- SaaS platform providers,
- online marketplaces,
- franchise owners,
- venture capital and investment firms,
- payment software developers.
Newcomers to the industry often seek fundamental information, such as understanding what a credit card processing company is and how it operates.
Startups and SMEs frequently seek the cheapest credit card processing solutions. However, it’s essential to recognize that price isn’t the sole factor when it comes to organizing the best credit card processing for small business entities.
Marketplace owners seek optimal ways to organize credit card processing online. Online credit card processing techniques include in-built solutions, payment pages, as well as security-enhancing features like point-to-point encryption and several tokenization mechanisms.
Implementation of state-of-the-art merchant service credit card processing is one of the main concerns of PSPs and payment facilitators.
PayFac companies seek to develop efficient merchant credit card processing strategies. Sub-merchants of one and the same PayFac can have different MCC categories and require different processing solutions. So, top payment facilitators successfully diversify their customer bases by offering the widest range of mechanisms to provide smooth and seamless payment handling experience.
To cater to a diverse audience, we create top-notch content that encompasses not only textual information but also videos and illustrations. As the saying goes, a picture is worth a thousand words. Hence, our resource hub’s infographics section offers a blend of posters and textual explanations.
Let us take a quick look at what our infographics are about.
A sneak-peek at our credit card processing infographics
Many of our customers are looking for optimal payment gateway solutions. Therefore, they will, surely benefit from our posters on payment gateway selection criteria for web-based merchants and on how to choose the most reliable payment gateway solution. Usually, it is not the brand but the functionality (or value-for-money) you should look at when choosing a solution for your business.
Judging from our experience, some flavor of a white label payment gateway solution often turns out to be an optimal one. A separate poster is dedicated to the benefits of an open source payment gateway solution.
Some infographic posters are dedicated to our flagship product, UniPay Gateway payment technology. If you need some illustrations of how it can be implemented, you can check the poster on UniPay-to-UniPay integration for merchants and PayFacs.
The poster on payment system integration steps might be of interest to those who want to know more about the process and evaluate their integration opportunities.
Prospective PayFacs and PSPs will find a lot of helpful information in the post on the key costs of becoming a payment service provider.
Businesses that want to implement innovative payment terminal solutions will surely benefit from our payment terminal cloud concept, outlined in the respective post and illustrated by an infographics piece.
To summarize
If you perceive visual materials better than textual information, then you will enjoy the credit card processing infographics section of our resource hub. Our illustrations might provide answers to your questions regarding various aspect of credit card processing and payment services in general.
Hopefully, our infographics will help you navigate the industry. You are welcome to study all our content!
And don’t hesitate to familiarize yourself with UniPay Gateway product, watch a short video guide, and request a demo.