Payment terminal

payment terminal, also known as a Point of Sale (POS) terminalcredit card terminalEFTPOS terminal (or by the older term as PDQ terminal which stands for “Process Data Quickly”[1] or in common jargon as “Pretty Damn Quick”[citation needed]), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization. Continue reading “Payment terminal”

Payment Services Directive

PSD, Directive 2007/64/EC, replaced by PSD2, Directive (EU) 2015/2366) is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The Directive’s purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users.[2] Continue reading “Payment Services Directive”


PayPal Holdings Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory. PayPal’s payment system, also called PayPal, is considered a type of payment rail. Continue reading “PayPal”

Payments as a service

Payments as a service (PaaS) is a marketing phrase used to describe a software as a service to connect a group of international payment systems. The architecture is represented by a layer – or overlay – that resides on top of these disparate systems and provides for two-way communications between the payment system and the PaaS. Communication is governed by standard APIs created by the PaaS provider. Continue reading “Payments as a service”


SuperRewards is an alternative payment system for online games and virtual worlds. The company was most recently acquired by Playerize, Inc and is based in Vancouver, British Columbia, Canada and San Francisco, California.[1] Users can purchase a particular virtual currency by paying for it directly using a credit card, or alternatively they can complete various types of offers which reward them with the desired currency. These offers are submitted to the SuperRewards offerwall by advertisers and typically involved surveys, quizzes, content downloads, videos, and subscriptions. Continue reading “SuperRewards”


Paymentwall Inc. is a global payments platform which services businesses in the SaaS, travel, and E-Commerce industries across 200 countries and territories. Paymentwall is best known for its wide range of 150 local payment options, which helps companies of all sizes enter into hard-to-reach markets. Continue reading “Paymentwall”


Paysafecard is a prepaid online payment method based on vouchers with a 16-digit PIN code, independent of bank account, credit card, or other personal information. Customers can purchase vouchers at local sales outlets and pay online by entering the code at the checkout of the respective website (e. g. an online game). paysafecard codes are not designated to be passed by mail or telephone. Continue reading “paysafecard”

Strong customer authentication

Strong customer authentication (SCA) is a requirement of the EU Revised Directive on Payment Services (PSD2) on payment service providers within the European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication, to increase the security of electronic payments.[1] Physical card transactions already commonly have what could be termed strong customer authentication in the EU (Chip and PIN), but this has not generally been true for Internet transactions across the EU prior to the implementation of the requirement,[1] and many contactless card payments do not use a second authentication factor. Continue reading “Strong customer authentication”