Understanding PCI Compliance: A Guide for Payment Service Providers
Payment Card Industry (PCI) compliance is a set of security standards that govern the handling of credit and debit card information by businesses. These standards were developed by major credit card companies such as Visa, Mastercard, and American Express, to ensure that merchants and service providers maintain the highest level of security when processing payment […]
How to Prevent Fraud in Online Payment Transactions
Payment Service Providers and Fintech Companies have revolutionized the way we make transactions, making it faster, easier, and more convenient. However, with the increasing use of credit cards and online transactions, the risk of fraud has also increased. Fraud on credit cards is a serious problem that affects both consumers and businesses. In this article, […]
How to Stay Compliant with GDPR in Payment Services
Payment Service Providers (PSPs) and Fintech companies are highly regulated entities that are required to comply with various legal and regulatory frameworks. One of the most important frameworks that these companies need to comply with is the General Data Protection Regulation (GDPR). Introduction: The GDPR is a set of regulations designed to protect the privacy […]
What Are PCI Non-Compliance Fees
If you’re a merchant that accepts credit card payments, you’re probably familiar with the Payment Card Industry Data Security Standard (PCI DSS). This standard sets forth the requirements for protecting cardholder data and ensuring secure transactions. However, failing to comply with the PCI DSS can result in costly non-compliance fees, which can take a serious […]
What is an Intrusion Detection and Prevention System
To start, let me give you an overview of Payment Service Providers and Fintech Companies. Payment Service Providers (PSPs) are companies that provide merchants with the infrastructure and services necessary to process online payments. They act as intermediaries between the merchant, the customer, and the bank that processes the payment. Fintech Companies, on the other […]
How to Develop a Robust Disaster Recovery Plan for Payment Services at Amazon Web Services
For payment service providers and fintech companies, ensuring business continuity and maintaining high levels of service availability is of utmost importance. Any unexpected interruption in service can lead to significant financial and reputational damage. That’s why disaster recovery planning is critical for such organizations. Disaster recovery refers to the process of ensuring that critical systems […]
Top 10 Security Practices for Payment Service Providers
Cybersecurity is super important for businesses that operate online. This is especially true for Payment Service Providers (PSPs), which handle their customers’ financial information. If a PSP’s security is compromised, it could lead to significant financial losses, a damaged reputation, and legal trouble. To prevent these kinds of issues, PSPs need to implement effective security […]
What is OnUs / OffUs Transactions
To start, it’s important to understand the roles of the different parties involved in a credit card transaction. There are typically three main parties involved: the cardholder, the merchant, and the payment processor. In an OnUs transaction, the card issuer and the payment processor are the same entity, meaning that the bank is both issuing […]
What is a Payment Facilitator
Payment Facilitators act as intermediaries between merchants and financial institutions such as banks, card networks (such as VISA and Mastercard), and payment processors. What is a Payment Facilitator (PF) A Payment Facilitator, is often seen as similar to a Payment Service Provider (PSP). But a Payment Facilitator is a company that enables merchants to accept […]
What is Google Pay
Google Pay is a digital payment platform developed by Google that allows users to make payments using their mobile devices or desktop computers. It was launched in 2015, originally as Android Pay, but later rebranded as Google Pay in 2018 to encompass a broader range of payment methods and devices. To store and protect your […]
