Interchange pricing refers to the fees charged by credit card networks to process transactions, compensating the issuing bank for handling and risk. These fees impact both businesses and consumers, influencing costs, pricing strategies, and payment preferences.
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PCI certification ensures businesses comply with the Payment Card Industry Data Security Standard (PCI DSS), protecting cardholder data and reducing fraud risk. Achieving this certification builds customer trust and helps avoid significant penalties for non-compliance.
SoftPOS technology is revolutionizing payments by allowing smartphones and tablets to accept contactless transactions, enhancing flexibility and reducing costs for businesses in industries like hospitality and retail. While promising for future Account-to-Account (A2A) payments, SoftPOS currently lacks a certification framework for these types of transactions.
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