In places like fast food chains and movie theaters, merchants may use Quick Payment Service or QPS to speed up transact [...]
Payment Types
Offline Payment Method/Offline Processing
Offline processing is the concept of recording credit card transaction information for later processing manually or in [...]
Contactless Transaction
Done through the use of infrared technology or radio frequency, a contactless transaction is one that does not involve [...]
Contact Transaction
Completed using a card in most cases, a contact transaction is one in which the card is either presented to a person [& [...]
Chip-Based Transaction
Believed to provide increased transaction security, a chip-based transaction is one that is initiated by a chip embedde [...]
Electronic Wallet/eWallet
The process of charging goods or services to an account without actually presenting the card but using a mobile devoice [...]
Debit Card
A plastic card that can be used to purchase services or goods or to get cash from a deposit account. While these [&hell [...]
Credit Card
A plastic card that allows for purchases when cash is not present, a credit card allows access to a revolving credit li [...]
Recurring Payment
This kind of transaction made by a cardholder involves periodic payments on a regular basis like weekly, monthly or ann [...]
Payment Card
A term that can be used in reference to credit cards, debit cards, prepaid card and EBT cards, the indicator payment ca [...]
Non Face-to-Face Transaction
When a card is not physically present, this constitutes a non face-to-face transaction. This can include mail order pur [...]
E-pay (Electronic Bill Payment)
An alternative to using paper checks, e-pay allows consumers to have funds withdrawn for bills and other transactions b [...]