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Month: December 2015

Merchant Services – who is who?

Merchant Services – who is who?

Issuers, Acquirers, ISOs, Gateways, Processors…. Who are they all?

In the search for your merchant service supplier, you have probably come across a confusing array of organisations who sit at various points in the money transfer chain. Sometimes it can be hard to understand just who is taking the payments for you and what they are doing. We’ve put together our simple guide to give you an overview of the different types of players and demystify the process for you.

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Interchange rates are down – that’s good right?

You may well have heard the chatter about the EU’s intervention into the credit card market, following their conclusion that Visa and Mastercard were in violation of European antitrust laws and were abusing their position by setting the interchange rate (the percentage paid by banks to them for handling the transaction) artificially high. From 9th December 2015 the new EU regulations will cap interchange rates at 0.2% for debit card transactions and 0.3% for credit cards.

So what does this mean for independent merchants like yourself? Well, in theory, this will mean a saving of 1p versus current rates.

Continue reading “Interchange rates are down – that’s good right?”

Credit Card Design: A History

How credit and debit card design has evolved over the last 70 years


Over a century ago a credit card was unheard of unless you read Looking Backward by Edward Bellamy where something similar was envisaged in his sci-fi novel.  Till the 1980s, credit in most households meant ‘on tick’, ‘the slate’, or the ‘never never’.  It was collected on doorsteps or in showrooms.  It meant moneylenders or the pawn shop (the latter still seen on today’s High Streets).

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Apple Pay for Beginners

A look at Apple’s revolutionary payment method

https://www.youtube.com/watch?v=58gAy85dwf0

There has been previous attempts at transferring our wallet from the jeans pocket to electronic devices over the last 25 years. Firstly, the debit card, which has replaced cheque books for everyday purchases, is the most successful to date. Then came prepaid cards, used in the Visa Cash system and many a gift card. The marriage between debit and credit cards with online shopping brought us electronic money transfer systems like PayPal and Worldpay. Among its offspring is contactless systems like Apple Pay. Continue reading “Apple Pay for Beginners”