• What is a Merchant Category Code (MCC)?

    17-01-12  1467
    Payment related

    A 4-digit code designated by a Credit Card company that lists the product, service, or line of business of a merchant. ......

  • PCI DSS

    17-01-12  6462
    Glossary

    A mandatory set of rules and regulations created to reduce Credit Card fraud. ......

  • What is a Recurring Transaction?

    17-01-12  1417
    Payment related

    A charge applied to a cardholder in predetermined intervals for services or goods of an ongoing nature (memberships, subscriptions). ......

  • What is an Independent Sales Organization (ISO)?

    17-01-12  1292
    Payment related

    A third-party sales organization that signs Merchants up to accept Credit Cards on behalf of one or more Acquiring Banks. ......

  • Merchant Account

    17-01-12  1482
    Glossary

    An account issued by an Acquiring Bank that allows a business to accept Credit and debit cards. ......

  • Payment Service Providers

    17-01-12  1421
    Glossary

    A third party that helps Merchants accept and facilitate payments. ......

  • ABA Routing Number

    17-01-12  1511
    Glossary

    A unique nine-digit number assigned to each banking institution, used to identify the bank and direct ACH debits and credits. The ABA routing number is usually found at the bottom of a personal or business check. ......

  • API

    17-01-12  1398
    Glossary

    Advanced Programming Interface – APIs allow users to program to a pre-constructed interface, instead of individually programming a device or piece of software. ......

  • SHA256

    17-01-08  1383
    Glossary

    SHA-256 (256 bit) is part of SHA-2 set of cryptographic hash functions, designed by the U.S. National Security Agency (NSA) and published in 2001 by the NIST as a U.S. Federal Information Processing Standard (FIPS). A hash function is an algorithm that transforms (hashes) an arbitrary set of data el ......

  • Buy rate

    17-01-08  1455
    Glossary

    Buy rate,or you can call it "Discount Rate".It is charged by the gateway when processing transactions successfully.It is usually a percentage of the order amount. ......

  • Withdraw & withdrawal fee

    17-01-08  1550
    Glossary

    Withdraw: It's a process that you request your funds in merchant account with ipasspay.com to be wired to your own bank account. Withdrawal fee: Merchants are to be charged a small amount when withdraw money from merchant account. Although merchants can be settled by daily utmost to get cash,i ......

  • Holding period

    17-01-08  4267
    Glossary

    For those transactions processed successfully through the payment gateway,merchants can check them in statement list and balance,but they can not withdraw the funds to their bank account due to holding period rules.Normally the holding period ranges form 7 days to 30 days depends on the merchants' b ......

  • Rolling reserve

    17-01-08  1946
    Glossary

    Usually 10% of the order amount will be holded by the payment service provider,and not be sent to the merchants' balance until 180 days later. We call the amount as rolling reserve.This is a anti-risk method taken by the PSP. ......

  • Fixed fee

    17-01-08  1374
    Glossary

    Payment gateway usually charges merchants a small amount for those approved transactions.The amount ranges from 0.10USD to 1.00USD,and it will not be returned even the transaction was refunded or charged back later.This small amount is called fixed fee in ipasspay. ......

  • Top 10 Chargeback Reasons

    16-12-31  1841
    Payment related

    1. Unauthorised Mail/Telephone Transaction Occurred because the cardholder denies participation in this transaction. You can avoid this by ensuring that you are authorised to accept Mail Order/Telephone Order (MOTO) transactions and being more alert and getting as much customer identification as p ......