Last week, MasterCard announced a new project in conjunction with Google, Citibank and First Data to launch the first electronic wallet in North America. The concept is very simple… instead of carrying your credit cards, bank cards and other identification in a physical wallet, all this information is stored in an app on your smartphone. [...]
Why do Different Payment Processors Have Different Rate Structures?
Many different processors are out there who offer merchant services. Weather the services are provided through a Member Bank or ISO, every application is subject to a very similar adjudication from Visa and Mastercard. Different processors do however, have different rate structures. There are a few reasons as to why these differences exist. Let’s look [...]
