Transaction Fee
Transaction fees are fees that a processor charges the merchant associated with each credit card transaction.
Purchase Cards
Otherwise known as procurement cards or P-Cards, purchase cards are issued by employers that enable assigned staff to purchase products or services for the company’s purposes.
Payment Gateway
A security service that transmits credit card information from a buyer to a seller so credit-based purchases can be processed.
QuickChip
A specification enhancement implemented in Visa credit cards that streamlines the purchase process for cards with EMV (Europay, MasterCard and Visa) technology.
Credit Card Processing
A term used to refer to financial transactions paid with credit cards.
Debit Networks
Debit networks aren’t a single entity but a combination, including payment terminals, debit card issuers and processors.
Interchange
A financial payment term used to refer to the exchanging of funds between two or more entities, usually banks, credit card issuers and merchants.
Issuing Bank
Also known as a member bank, an issuing bank offers payment cards – such as debit or credit cards – on behalf of other financial institutions.
Store and Forward
Store and Forward refers to a feature that involves capturing the necessary transaction data and storing that data temporarily (usually in the event of an internet outage) until the data can be passed along to the processor once the internet service is restored.
How to turn on screen rotation on the PAX A3700
The PAX A3700 connects to the PAX Elys Workstation in two orientations (right-side up and upside down). To ensure the screen rotates according to the orientation used, follow the steps below: 1 Swipe up from the bottom of the screen. 2 Touch the back key ◁ twice. Welcome screen on PAX A3700 3 When prompted […]
