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Financial Strategies

We collaborate extensively with DataNav Solutions, leveraging their cutting-edge PaaS™ program financial solutions. Additionally, our portfolio includes specialized business technology consulting services tailored for various sectors, including QSR, Hospitality, Retail, and beyond.

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Processing Roadmap

Merchant processing is a critical aspect of modern commerce, enabling businesses to accept a wide range of electronic payments and providing customers with convenient and secure payment options.

Point of Sale (POS)

At the point of sale, customers make purchases using credit cards, debit cards, or other electronic payment methods. The merchant processing system facilitates this transaction.

Payment Gateway

The payment gateway is an online service that securely connects the merchant's website or point-of-sale system to the payment processor. It encrypts sensitive information and ensures secure transmission of data.

Acquiring Bank

The acquiring bank, also known as the merchant bank, is the financial institution that establishes and maintains the merchant's account. It processes the transactions and deposits funds into the merchant's account.

Card Associations

Card associations, such as Visa, Mastercard, American Express, and Discover, set the rules and interchange fees for card transactions. Merchants must comply with these rules to accept payments from these cards.

Issuing Bank

The issuing bank is the financial institution that issued the credit or debit card to the customer. It is responsible for authorizing or declining the transaction based on the available funds or credit limit.

Payment Processor

The payment processor is a third-party entity that manages the electronic communication between the merchant, the acquiring bank, and the card associations. It handles the authorization, settlement, and reporting of transactions.

Authorization

When a customer makes a purchase, the payment processor communicates with the issuing bank to verify the cardholder's information and ensure that the funds are available. If approved, the transaction proceeds.

Settlement

After authorization, the payment processor initiates the settlement process, where the funds are transferred from the customer's account to the merchant's account. This typically occurs within a few business days.

Regulatory Compliance

Understand and adhere to relevant regulations and compliance standards within the processing industry. Including data protection, cybersecurity, and any industry-specific requirements.

Security Measures

Merchant processing systems implement various security measures to protect sensitive information, including encryption, tokenization, and compliance with Payment Card Industry Data Security Standard (PCI DSS) requirements.

Merchant Account

To accept electronic payments, merchants need a merchant account, which is a type of bank account specifically for receiving funds from card transactions. The acquiring bank establishes and manages this account.

Transaction Fees

Merchants pay fees for each transaction, including interchange fees set by card associations and additional fees charged by the acquiring bank and payment processor. These fees cover the cost of processing transactions and maintaining the payment infrastructure.

Sub-Agent Collaborations

Explore opportunities for becoming your own Agent and collaborate within the merchant processing ecosystem. This can expand reach, and drive mutual growth.

Key components of merchant processing