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Triangulation fraud is a common type of online fraud that can cause significant financial losses for both buyers and sellers involved. It not only affects individuals but also impacts eCommerce platforms and their reputation. This deceit involves three primary stakeholders: the fraudster impersonating as the seller, an unwitting buyer, and an innocent merchant. The fraudulent seller convinces the …

The Payment Card Industry Data Security Standard (PCI-DSS) is a set of global standards developed to safeguard cardholder data. It applies to any entity that processes, stores, or transmits credit card information — making it especially relevant to banks and financial institutions. Compliance ensures robust security practices to prevent breaches and protect sensitive payment card data. It’s not ju…

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…