What is a payment processor?
A company that routes transactions between the merchant, card networks, and issuing banks.
How is a gateway different from a processor?
A gateway transmits payment data online; processors settle funds and provide merchant accounts.
What does PCI DSS require?
Minimize card data storage, secure networks, restrict access, monitor, and test regularly.
Which SAQ do I need?
SAQ A (hosted), A‑EP (hosted fields), B/B‑IP (terminals), C/C‑VT (apps/VT), D (other).
What is tokenization?
Replacing PAN with a surrogate token for storage/recurring use, reducing PCI scope.
What is 3‑D Secure?
Additional authentication for CNP transactions; can shift liability to issuers.
How long do settlements take?
Typically T+1 to T+3 business days depending on provider and cut‑off times.
What is Interchange?
Fee paid to issuing banks; varies by card type, channel, and region.
What is an effective rate?
Total fees divided by total processed volume; quick comparison metric.
How do chargebacks work?
Cardholder disputes a transaction; merchants can submit evidence under strict timelines.
What’s AVS/CVV?
Fraud screening checks for address and card verification values.
POS vs mPOS?
Full POS systems vs lightweight mobile readers; choose based on features and mobility.
What is DCC?
Dynamic Currency Conversion shows prices in the customer’s currency; evaluate fees carefully.
What data appears on statements?
Batches, fees, adjustments, chargebacks, payouts; used for reconciliation.
What is a descriptor?
Text on cardholder statements; clarity reduces friendly‑fraud chargebacks.
Do I need a merchant account?
Aggregators vs dedicated accounts; both models exist with trade‑offs.
Alternative payments?
Local APMs and wallets improve conversion internationally.
Subscriptions?
Use tokenization, dunning, clear cancellation, predictable billing cycles.
Can I store card data?
Avoid if possible; use vaulting/hosted fields to reduce risk.
How to choose a provider?
Compare features, fees, support, settlement speed, integration; test reporting.