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How Does the New EMV Credit Card Chip Work?

Contactless Payment Reader

EMV (Europay, MasterCard® and Visa®) chip technology is fast becoming the worldwide standard for credit card and debit card payments. Milllions of consumers have been issued new cards that look quite similar to the old cards. However, these new smart cards come with a small, metallic square in the corner of the card. The square…

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What are EFT and ACH transactions?

Most forms of consumer monetary transactions involve a collaboration of entities representing the consumer, business, banking/financial, and government sectors. The instrument form, payment application, and delivery technology have all evolved from the simple check or draft where an account holder issues a written order that authorizes the recipient to submit the instrument for payment. Thanks…

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Does SecureGlobalPay offer a secure payment gateway?

Non-Profit & Religious

SecureGlobalPay, and independent agent office SecureGlobalPay, offers SSL (Secure Socket Layer) Application Programming Interface (API) for e–commerce merchant Website builders and providers an encrypted connection to a powerful, secure payment engine. All SecureGlobalPay merchants receive significant benefits by using the SecureGlobalPay technology, the heart of the SecureGlobalPay Internet product suite. Click Here if You Are…

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What is a chargeback?

SGP Computer Companies

A chargeback is a reversal of a credit-card transaction — not because the product was returned or because the sale was never completed, but because there was some problem processing the transaction. Often, a chargeback means the merchant ended up providing a product or service for free — and had to pay the merchant bank…

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What are holdbacks?

A holdback is a percentage of the receipts of a credit card merchant account which the merchant bank retains to cover possible chargebacks. After a predetermined time, the holdback is returned to the merchant. Merchant banks almost never pay interest on this money, and it’s not available for your business to use during the holdback…

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