Digital Invoice Payments
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Whether accepting payments instore, mobile, online, or over the phone. Our platform offers a variety of customizable secure payment options that can be scaled to your business and expand as it grows, with devices, apps, and accessories.
The Issuing Bank
This is the bank that issues the customer credit card(s). Ex. If you have a bank account with BA or PNC bank then you most like received your credit and or debit card from them, which makes them the card issuing bank.
Card Brands Association
These company work with the government to determine rules regarding card use, acceptance, security, as well as determining the interchange rates and fees charged.
Merchant Processors
Businesses are connected to the processor through hardware and software, use to process transaction. Processors shuttle information to the appropriate card brands and bank. Merchant’s account batches at the end of the day funds are funds are moved from insuring bank to merchant’s bank. The processor calculate the interchanges fees and provides the data to the merchant’s bank.
Payment Gateway
Payment gateway connect the payment technology ie terminal, shopping cart, POS, Virtual terminal, website or mPOS and the card processing network. Integrated with an Application Programming Interface (API)
Sponsor Bank
The sponsoring bank of the processor is responsible for getting funds to the Merchant and ACH payments to the processor. They are also responsible for paying the card brands and the issuing bank their share of the interchange fees