If you want to sell your products online then you need a payment gateway. A payment gateway is a merchant service that authorizes credit cards and other direct payments. Payment gateways enable customer payment transactions by transferring information between a payment portal and the front-end processors. Payment portals can include websites, mobile phones, or even interactive voice response services. The payment gateway has to complete several tasks to process a transaction
The first POS system was introduced by IBM in the 1970s. These top of the line systems were simple and bulky and required terminals that were wired back to mainframes. It was not until the 1990s with hardware and software updates and advances that the touchscreen terminals we use every day when we shop began to grow in use. However, with the advent of the internet, POS systems and credit card processing has made another major advancement with the advent of virtual terminals.
Every week new information comes to light about the Equifax data breach which according to the NY Times has exposed 146 million Americans personal information. According to the company’s former CEO, the breach was a result of a mistake of a single employee. No matter who is at fault for the breach the data can cause many negative repercussions in the wrong hands. One of the most potentially harmful results of the data breach can be individuals identify being stolen and used
One of the chief causes of lost revenue for online merchants is chargebacks due to fraud, and the problem seems to be getting worse. Criminals that steal credit card information are upgrading their tactics through the use of sophisticated automated testing programs. Credit Card Fraud rings are buying thousands of stolen credit card accounts at a time with the goal of purchasing items online that are easy to resell. However, by the time they purchase the stolen accounts many o