Healthcare payment processing is much more than collecting money – it’s about safeguarding patient data. As digital healthcare transactions are escalating, both security and compliance are increasingly on the agenda. That’s where HIPAA compliance takes over. HIPAA, or the Health Insurance Portability and Accountability Act, establishes national standards to protect the privacy...
What is a Partial Authorization?
A partial authorization is a type of financial transaction in which the cardholder's issuing bank approves only a portion of the total transaction amount. This may occur when the cardholder does not have sufficient funds available to cover the entire purchase amount, or when the merchant's terminal is unable to...
What Are Card Not Present (CNP) Transactions?
Card-not-present (CNP) transactions are those that occur when the cardholder and merchant are not physically present with one another. This can happen when a customer makes an online purchase, over the phone, or through mail order. In these cases, the cardholder’s information is entered into the merchant’s system, and the...
What is ACH Payment Processing and How Does it Work?
ACH payment processing is a system that allows businesses and individuals to send and receive payments electronically. Payments are made through the ACH network, which is a network of financial institutions that enables electronic transactions. To make a payment using ACH, the payer will first need to have an account...
What is a 3D Payment Gateway? Everything you Need to Know!
3D Payment Gateway is a technology that allows online shoppers to make payments using their credit or debit card, without having to enter their card details each time they make a purchase. This service is provided by banks and other financial institutions, and is available to anyone who has a...
What is EBT Payment Processing and How does it work?
EBT (electronic benefits transfer) is a system that allows the government to distribute benefits, such as food stamps and welfare payments, through a digital network. This allows beneficiaries to access their funds electronically, rather than having to receive paper checks. The EBT payment processing system is responsible for transferring these...
What is a merchant cash advance?
A merchant cash advance (MCA) is a type of business loan that provides companies with quick and easy access to capital. MCAs are an alternative to traditional bank loans, and they work by giving businesses a lump sum of money in exchange for a percentage of their future credit card...
What is Small Business Merchant Services and How Does it Work?
Small business merchant services is a term used to describe the various types of services that are available to small businesses to help them process credit and debit card payments. There are a number of different providers of these services, and each one has its own set of products and...
What is Cryptocurrency and how does it work?
Cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically...
What is Polkadot (DOT) Cryptocurrency and how does it work?
Polkadot is a scaling solution for blockchains. It offers the ability to send transactions off-chain in an array of conditions, with transaction speed varying depending on what consensus mechanism the blockchain it has been sent from employs. How does Polkadot work? The most important part of Polkadot is Relayers. These...