Skip to main content

Transaction Management


Anyone that has tried to implement a system to process credit cards will know that the world of electronic payments processing is a multi-layered maze of options and price discrepancies.

As the market matures a new era is starting to demystify the process. A few large companies are providing all the layers under one banner - key examples are Braintree and Stripe.

These services add convenience, BUT at a price - higher processing fees and no choice on merchant processors or banks.

The opposite philosophy is to allow merchants a simple way to choose any route for their transactions - with a Transaction Management System (TMS).

Imagine a system that allows a standard connection to route to any payment processor automatically, based on the things you care about most - price, speed and risk. OpenPath is the pioneer and leader in Transaction Management. Read more at https://openpath.io

Comments

Popular posts from this blog

Is Surcharging Right For Your Business?

Is Surcharging Right For Your Business? By: Kasey Woo What Is Surcharging? Credit cards may be convenient for a customer to pay for online purchases, as well as services, such as haircutting, restaurant service, or doctor’s appointments, but it is not so easy from a business owner's perspective. When a business accepts credit cards as part of their business operations and transactions, they incur additional fees and costs to process these credit card transactions.  Interchange fees are percentage based charges that individual merchants must pay in credit-card or debit-card based transactions. In the United States alone, the average interchange fees for online merchants is approximately 2.13%, whilst gas stations face an average interchange fee of 1.92% and brick-and-mortar retailers face an average interchange fee of 1.56%. Add on top of this processor and gateway fees and the total cost can be closer to 4%. So, is there an option out there that would allow for businesses to minimi...

Credit Card Testing & Fraud: What Your Business Needs to Know and How OpenPath Can Help You Prevent It

  What’s Going On?      As more and more companies and store owners switch from paper to online payments, fraudulent activities become more and more complex and harder to track. What is Card Testing and How Does it Work? Known through multiple terms like “carding”, “account testing”, and “card checking”, card testing is becoming one of the main avenues for hackers to steal from both the consumer and the merchant. Card testing is when someone tries to use stolen card information or attempts to guess card information in order to make fraudulent purchases from another card. Hackers use computer programs to streamline this process so it becomes easier to “guess” card information. One of the more common ways to card test is to check the authorization, which is much less likely to appear on statements. Another possible way is through small payments that go easily unnoticed by both consumers and merchants.  How Prevalent is this Issue? Online shopping is booming. Indu...