Author: Vellis Team

Credit card authorization is the process by which a payment processor verifies that a cardholder’s account has sufficient funds and that the transaction is legitimate before funds are transferred. This step is essential for securing payments, reducing the risk of fraud, and ensuring that both merchants and customers are protected.

Voice payment processing is a technology that allows consumers to make purchases or send money using simple voice commands, often through digital assistants like Alexa, Siri, or Google Assistant. In today’s fast-paced digital economy, this innovation is reshaping how people shop, pay bills, and manage finances.

In simple terms, synthetic identity theft happens when criminals create a fake identity by combining real and fabricated information, like using a real Social Security number with a fake name and address.

To start with, credit card fees are the charges merchants pay on each card transaction, covering interchange, assessments, and processor markups. As these costs continue to rise, both small and large businesses are exploring whether to pass them on to customers through surcharges or convenience fees. For small businesses, even modest fees can significantly reduce…

Residual income in payment processing refers to the ongoing commissions earned each time a merchant processes transactions through the system you set up. This model is attractive to agents, ISOs, and entrepreneurs because it creates long-term, recurring revenue without needing constant new sales.

A credit card processing outage happens when payment networks fail to approve transactions, leaving businesses unable to accept card payments. These interruptions matter greatly, merchants lose revenue while customers face delays and inconvenience.

Credit card payment processing rules and laws are the legal and regulatory frameworks that govern how transactions are authorized, transmitted, and settled between cardholders, merchants, and banks. These regulations are essential because they safeguard consumers from fraud, ensure merchants receive timely payments, and protect financial institutions from excessive risk.

Credit card reconciliation is the process of reviewing and matching a business’s credit card transactions with internal records to ensure everything aligns. It is essential because it confirms accuracy, helps detect errors or fraud, and maintains financial transparency.