Mastercard offers merchants two ways to process payment card transactions. With the single message system,…
Jennifer MeredithSeptember 18, 2018
A payment processor shares and receives data from the card associations, acquirer, and gateway in…
Jennifer MeredithSeptember 17, 2018
A payment gateway is a software or device-based service that receives, protects, and shares transaction…
Jennifer MeredithSeptember 17, 2018
A merchant service agreement is a contract between a merchant and acquirer. Service agreements establish…
Jennifer MeredithSeptember 17, 2018
The merchant identification number (MID) is a unique alphanumeric identifier assigned to a merchant account.…
Jennifer MeredithSeptember 17, 2018
A merchant category code (MCC) is a four-digit classification code use to describe a merchant’s…
Jennifer MeredithSeptember 17, 2018
The merchant’s acquirer will create a merchant account reserve to withhold a portion of the…
Jennifer MeredithSeptember 17, 2018
An acquirer provides a merchant account so a business can accept and process payment card…
Jennifer MeredithSeptember 17, 2018
Card associations have two different types of members. Members can be licensed to issue cards…
Jennifer MeredithSeptember 17, 2018
