PayDiverse Blog
Merchant Account Guides, Info, and News
What the New Credit Card Competition Act 2022 Means for Merchants and Consumers
The Credit Card Competition Act 2022, recently passed by the US Congress, is set to revolutionize the way merchants and consumers interact with credit cards. It brings significant changes to credit card fees, reward programs, and other features that the industry has...
What is a Payment Facilitator?
What is a Payment Facilitator?Payment facilitators (Payfac) enable companies to accept electronic payments from customers. They provide the entire infrastructure for payment processing, handling everything from customer registrations to transactions. Highest Approval...
What is a Virtual Terminal?
If you've ever had anything to do with a retail or service business, there's a good chance you've heard the term 'virtual terminal' thrown around a time or two. But what does it mean? How do virtual terminals work and is this modern payment processing solution...
What’s the Difference Between an Acquiring Bank and an Issuing Bank?
As of 2020, an estimated 468 billion credit card transactions were processed daily. Brands like Visa, MasterCard and UnionPay are responsible for the bulk of these transactions, which occur between acquiring banks and issuing banks. Acquiring Bank: An acquiring bank...
Mastercard Requirements for High Risk Recurring Billing
AN 4934 Revised Standards for Merchants Utilizing a Subscription/Recurring Payments Model or Negative Option Billing Model Type:Bulletin Announcement Category:OperationsRules/Standards Audience:AcquirerProcessor Region:Global Brand:Mastercard® Action Indicator:Brand...
Merchant Account Fees Explained
The lingo used in the payment processing world can be a mystery to those who aren't familiar with it. There's an array of terms, as well as fees, that you might find on your statement and it's important that as a merchant, you understand what each one means. Below,...
What Merchants Need From Their Payments Company
There's much to be done when it comes to business management and ownership. Between managing inventory, balancing books and overseeing payments, the financial side of business management can be overwhelming for many, let alone customer service. Luckily, there are...
Are Voice Payments the Future of Purchasing?
Payment technology is evolving rapidly. It seems like just yesterday when we stopped swiping credit cards and debit cards to incorporate tap and chip technology. And now, continued advances in machine learning and artificial intelligence have led to another new way to...
Declined Transactions by Issuer
Declined Transactions by Issuer When credit card issuers decline transactions, the loss to merchants is substantial. In most cases, when a transaction is declined by issuer, the customer abandons the transaction. While in many cases, the issuer decline is due to...
Best High Risk Merchant Account Providers
Merchants who've been labeled high-risk usually find themselves needing to find payment processors that are willing to provide them account services at an affordable rate, and that's not always easy to find. Major banks tend to charge exorbitant credit card processing...
What is an Offshore Merchant Account?
When it comes to credit card processing accounts, there are plenty of reasons to open and process payments through an offshore credit card processing merchant account. These accounts are usually recommended to high-risk merchants, who may have been labeled as such due...
What is Interchange-Plus Pricing?
What is Interchange-Plus Pricing? Most businesses choose to accept credit cards to provide a convenient payment option to their consumers. Of course, adding this option can help to secure more sales for the business, as well as attract new and returning customers....
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