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A simple card transaction requires a symphony of interactions between several entities. However, the flow of payment data from one component to another isn’t uniform. Some routes demonstrate efficiency and speed over others. That’s where the concept of payment routing comes into play. Payment routing is the methodology applied to guide the payment transaction across different financial institution…

Shopping cart abandonment describes the scenario where shoppers add items to their cart but fail to proceed with completing the purchase. It represents a situation where customers show interest in a product by selecting it, yet they stop short of finalizing the transaction. This hesitation to complete the sale could stem from a variety of reasons. For example, the shopper may be comparing prices a…

An independent sales organization (ISO) is a business entity that partners with acquiring banks to provide payment processing services to merchants. ISOs act as an intermediary, helping businesses set up merchant accounts, process credit card transactions, and access related financial services. While they do not issue credit cards or handle the funds themselves, ISOs play a crucial role in facilit…

A chargeback rate is a metric that measures the percentage of transactions disputed by customers and ultimately reversed by the merchant’s bank. It is calculated by dividing the number of chargebacks by the total number of transactions within a specific period. A high chargeback rate can indicate issues like fraud, dissatisfaction with products or services, or misunderstandings in billing. Maintai…

Geolocation is the process of identifying the geographic location of a device, user, or object using data such as GPS coordinates, IP address, Wi-Fi positioning, or cell tower triangulation. This technology enables devices to determine their exact location in real time, which is commonly utilized in applications like navigation, location-based services, and geotagging. Geolocation helps power a wi…

Acquiring banks must rely on a robust array of tools to deter fraudulent activity. Some of these tools can be deployed at the bank level, while others rely more on deployment by individual merchants. One vital tool that should be in every merchant’s arsenal is the velocity check, also known as velocity control, a precise and dynamic fraud prevention measure. Velocity checks serve as an integral pa…