This document provides an overview of payment gateways and systems. It discusses payment basics like issuers, acquirers, and processors. It describes how credit and debit transactions work through KNET in Kuwait. The document also outlines different types of payment providers for credit, debit, and processing services in Kuwait, including KNET, issuer banks, acquirer banks, and American Express. Finally, it discusses options for integrating payments and tips for choosing a payment provider.
Payment Card Industry (PCI) governs all forms of electronic payments. It has laid a set of policies and procedures that need to be abided by the business and is known as Payment Card Industry Data Security Standard (PCI DSS). The regulations are to safeguard transactions and cardholders details against any misuse. Various components namely, Credit Card Associations, Credit Card Issuing Banks, Credit Card Acquiring Banks, Credit Card Processors & Merchant Account Providers, and Payment Gateways facilitate the proper functioning of the Payment Card Industry
How to be a credit card processing ninjaSheel Mohnot
Want to learn more about the crazy credit card processing industry? Need to get a merchant account?
This document from http://feefighters.com can help!
Payment Card Industry (PCI) governs all forms of electronic payments. It has laid a set of policies and procedures that need to be abided by the business and is known as Payment Card Industry Data Security Standard (PCI DSS). The regulations are to safeguard transactions and cardholders details against any misuse. Various components namely, Credit Card Associations, Credit Card Issuing Banks, Credit Card Acquiring Banks, Credit Card Processors & Merchant Account Providers, and Payment Gateways facilitate the proper functioning of the Payment Card Industry
How to be a credit card processing ninjaSheel Mohnot
Want to learn more about the crazy credit card processing industry? Need to get a merchant account?
This document from http://feefighters.com can help!
Night Audit in Front Office
Introduction
Functions of Night Audit
Duties of Night Auditor
Audit Posting Formula
Bucket Check
Night Audit Process
Night Audit Reports
Rate Variance Report
Revenue Report
Occupancy Report
Commission Report
High Balance Report
Operating Modes
Important Terminologies
This analysis provides an overview of the top trends in the commercial banking sector as they shift to technology high gear to boost client efficiency and battle a volatile, uncertain, competitive, and evolving landscape.
First, it was retail banking. Now, advanced technology is shifting to – and disrupting − the commercial banking space. Many commercial banks, known for paperwork, red tape, and branch dependency, were unprepared to support clients during their post-COVID-19 ramp-up. But now, the digital pivot to new mindsets, partnerships, and processes is in overdrive.
As commercial banks grapple with competition from FinTechs, BigTechs, and alternative lenders, their inability
to fulfill SME demands and pandemic after-shocks necessitates transformative process changes and a move
to experiential, sustainable, and inclusive banking models. We expect banks to strive to meet the demands
of corporate clients and SMEs by digitally transforming critical workflows and improving client experience.
Additionally, incremental process improvements in the middle and back-office that leverage intelligent
automation will keep the competition at bay because engaged clients are loyal.
Adopting newer methods to mine data and moving to as-a-Service models will prepare commercial banks
to flexibly respond to newcomers and find ways to co-exist through effective collaboration. The time has come for commercial banks to put transformation on the fast track as lending losses in wallet and market share could spill over to other functions!
How incumbents react and respond to 2022 trends could determine their relevancy and resiliency in the years ahead.
Payment Gateways in Kuwait - 2014 UpdateBurhan Khalid
This is my updated talk on payment gateway options available in Kuwait for 2014.
The talk was given at @sirdab_lab for the @startupq8 weekly coffee meetup.
Get access to a list of online payment gateway providers in the UAE. Check online payment gateway solution and Fraud prevention system for your business
Night Audit in Front Office
Introduction
Functions of Night Audit
Duties of Night Auditor
Audit Posting Formula
Bucket Check
Night Audit Process
Night Audit Reports
Rate Variance Report
Revenue Report
Occupancy Report
Commission Report
High Balance Report
Operating Modes
Important Terminologies
This analysis provides an overview of the top trends in the commercial banking sector as they shift to technology high gear to boost client efficiency and battle a volatile, uncertain, competitive, and evolving landscape.
First, it was retail banking. Now, advanced technology is shifting to – and disrupting − the commercial banking space. Many commercial banks, known for paperwork, red tape, and branch dependency, were unprepared to support clients during their post-COVID-19 ramp-up. But now, the digital pivot to new mindsets, partnerships, and processes is in overdrive.
As commercial banks grapple with competition from FinTechs, BigTechs, and alternative lenders, their inability
to fulfill SME demands and pandemic after-shocks necessitates transformative process changes and a move
to experiential, sustainable, and inclusive banking models. We expect banks to strive to meet the demands
of corporate clients and SMEs by digitally transforming critical workflows and improving client experience.
Additionally, incremental process improvements in the middle and back-office that leverage intelligent
automation will keep the competition at bay because engaged clients are loyal.
Adopting newer methods to mine data and moving to as-a-Service models will prepare commercial banks
to flexibly respond to newcomers and find ways to co-exist through effective collaboration. The time has come for commercial banks to put transformation on the fast track as lending losses in wallet and market share could spill over to other functions!
How incumbents react and respond to 2022 trends could determine their relevancy and resiliency in the years ahead.
Payment Gateways in Kuwait - 2014 UpdateBurhan Khalid
This is my updated talk on payment gateway options available in Kuwait for 2014.
The talk was given at @sirdab_lab for the @startupq8 weekly coffee meetup.
Get access to a list of online payment gateway providers in the UAE. Check online payment gateway solution and Fraud prevention system for your business
The State of eCommerce by Aramex; ArabNet Digital Summit 2015ArabNet ME
Iyad Kamal, Aramex COO delivers his annual e-trends report on ecommerce growth drivers in the Middle East and shares his insights on online shopping and ecommerce transaction trends in the region.
Credit card processing
https://www.highriskgateways.in/credit-card-processing/
Our credit card processing facility allows you to accept payments from customers around the world, using a variety of credit card brands, including Visa, MasterCard and Cirrus Maestro. In order to support your business, we take a unique approach to credit card payments, focusing on real-time processing, cardholder security, and online fraud prevention
Our company’s specification is we have unique product offerings with advanced API Integration for best success ratios, Push Response Technology, Dynamic Switching, Retry options, Advanced Analytics, Recurring Payments, Multiple Currency Options, Omni-Channel Offering, E-Wallet M-commerce etc.
What Is Mobile App Payment Gateway Integration - consumer-sketch.pptxConsumer Sketch
Hire an expert mobile application development company to develop fast and secure mobile app payment gateway integration for your business mobile application services.
Sollution Guide from IBM Partner, Lightwell (http://www.lightwellinc.com). Simplify your payments acceptance with prebuilt, ready-to-deploy global payments solutions and services on the cloud.
• Deliver a consistent, secure shopping experience across channels and devices
• Accept payments on any device, anywhere in the world
• Easily manage payments with a single view of settlement and accounts across channels
• Leverage connections to over 170 payments types in over 70 countries
• Significantly reduce risk of handling sensitive payments and customer information
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
2. TODAY’S TALK
• Payment System Basics
• Different Types of Providers
• Debit vs. Credit
• Integration Tips & Techniques
3. PAYMENT SYSTEM
BASICS
Term What you need to know
Issuer Bank The bank that issued the credit or
debit card being used in the
transaction.
Merchant A business accepting payments.
Payment Gateway A service that provides merchants
with an interface to the various
points of a transaction pipeline.
Payment Processor (also called an
Interchange)
An entity that processes payments
on behalf of banks.
Card Association MasterCard, VISA, American
Express, Diners Club
Acquirer Bank The bank that provides the
payment gateway to the merchant
PCI-DSS Payment Card Industry – Data
Security Standard
4. PAYMENT SYSTEM
BASICS
Term What you need to know
3D-Secure XML-based protocol for additional
security on top of credit and debit
transactions.
“SecureCode” / “Verified By Visa” /
“J-Secure” / “SafeKey”
Marketing terms for 3D-Secure
technology adopted by major
associations to combat fraud.
PSP Payment Services Provider (a
company outsourced by banks to
handle network transactions)
ACS Access Control Server, the server
that controls the username/PIN
used in 3D-Secure.
MPI Merchant Plug-In. The magic sauce
that makes your shopping cart 3D-
Secure Compliant
5. HOW A (CREDIT)
TRANSACTION WORKS
From: http://www.cybersource.com/developers/learn/getting_started/how_payment_processing_works/
7. HOW KNET WORKS
(REALLY)
1. You go to a merchant that has a POS terminal.
2. The merchant plugs-in your card, and punches the amount you
need to pay.
3. You enter your PIN.
4. POS terminal communicates with KNET
5. KNET knows which is your issuer bank.
6. KNET asks the issuer bank to verify your PIN, and if you have
sufficient balance.
7. Yes? The amount is deducted from your account, and put into a
“suspense” account. Terminal prints the receipt. You enjoy your
cupcake.
8. No? Terminal prints the receipt, and you L
9. Next business day, banks settle out these “suspense” accounts,
and the businesses get their money (minus any transaction fees).
8. HOW KNET (DEBIT)
WORKS (ONLINE)
1. You open your “resource” file, this is your “POS terminal”. KNET
treats online gateway just like a normal POS machine.
1. This file contains your merchant ID, and various other configuration
information.
2. You send KNET a request to initiate a transaction. This request
includes:
1. The currency
2. The amount to be debited
3. Your error and success links
4. An unique ID identifying this transaction on your system.
5. Any other data that you want to associate with your transaction.
3. KNET accepts your request, and send you a payment ID generated
by KNET.
4. You redirect your user to the KNET page, with this payment ID.
5. KNET will then redirect to your site’s success or error links based
on the transaction result.
10. KNET
• This is a company that is designed to facilitate
transactions inside Kuwait and within the GCC.
• All banks are wired into KNET. This is how the ATMs and
Point of Sale terminals work with your debit cards.
• KNET is also responsible for linking with other regional
payment networks:
• GCCNET
• BENEFIT (Bahrain)
• NAPS (Qatar)
• SAMA (Saudi Arabia)
• UAE
11. ISSUER BANKS
• Any bank in Kuwait that offers you a debit card with an
association logo.
• So pretty much, all banks in Kuwait? Yes.
• All banks are routed into KNET, but not all banks are members
of KNET:
• BNP Paribas
• Citibank
• HSBC
• NBAD
• Industrial Bank of Kuwait
• All issuer banks can offer you KNET (debit) payment
gateway, and credit card gateway.
12. ACQUIRER BANKS
• These banks have the ability to acquire credit card business
for point of sale. This only applies to credit cards and not
debit cards.
• The following are acquirer banks:
• National Bank of Kuwait
• Gulf Bank
• Commercial Bank of Kuwait (CBK)
• Kuwait Finance House
• Burgan Bank
• Generally speaking, the acquirer bank will give you a better
rate than an issuer bank for point of sale transactions.
13. AMERICAN EXPRESS
• For American Express, the issuing company is the issuing
bank.
• Cards are issued directly through American Express.
• Merchants can sign up directly with American Express for
processing of American Express cards.
14. PAYMENT GATEWAYS
• Unless you are dealing with KNET or American Express,
all payment providers are considered “3rd Party”.
• You must have at a minimum the following:
• Functional website (even if it’s a web front for your mobile
app).
• SSL Certificate (your site must work with https://)
• Privacy Policy, Terms of Service
• Contact Information that actually works. Don’t use a
Skype number and then don’t answer it.
• The above is my recommendation, and some integration
methods do not need all these requirements.
15. 3RD PARTY PROVIDERS
• They assume the risk for your business, so each has their
own policies and procedures.
• All entities (business or individuals) that transfer money
(or money equivalents) needs to go through Know Your
Customer (KYC) process by their financial institutions to
combat money laundering.
• Each 3rd Party Provider will have a list of restricted goods
that they will not process payments for.
• If you are selling soft goods, you are a high risk merchant.
• Each will have their own “retention” policies (funds that
are withheld for chargebacks).
16. PAYMENT GATEWAYS
Gateway Name Services Provided Average Difficulty
PayPal Credit Card Payment
ONLY, cannot withdraw
funds (yet).
Easy
2CheckOut Credit Card Payment,
debit to account direct.
Easy
Moneybookers/Skrill Credit Card Payment /
direct debit to account
Easy
CyberSource Credit Card Payment +
3D Secure, direct debit
to account.
Medium
KNET Debit Only Not super difficult, but
getting there.
cashU Pre-paid Easy
Authorize.NET Credit Cards Easy/Medium
17. INTEGRATION
OPTIONS
Gateway Name Notes
PayPal Web-only (no SSL required), subscriptions,
chargebacks; deep integration possible.
2CheckOut Better than PayPal in terms of integration, simple
checkout, no SSL required; easily customized
Moneybookers/Skrill Deep integration possible, direct debit possible. Good
competitive rates.
cashU Web-only, limited integration.
KNET Web-only, non-web available at high cost/approval;
direct debit, competitive rates based on your
“negotiation skills”.
CyberSource The most customizable option. The End.
Authorize.NET The “SMB” version of CyberSource
18. KNET SPECIFIC
REQUIREMENTS
• You need a business license.
• You need to have a business account at any bank. You
cannot get KNET on a personal account.
• You need to have a SSL certificate.
• Bank will nominate you for KNET.
• You need to pass KNET’s testing/verification procedures.
19. KNET SPECIFIC
REQUIREMENTS
1. KNET officially supports:
1. Java based servers
2. ASP (Windows) based Servers
2. KNET uses ACI WorldWide’s BASE24 Payment Gateway
3. This is the same one used by BENEFIT (Bahrain)
21. CREDIT CARD OPTIONS
(KUWAIT LOCAL)
1. Local banks provide three main methods for credit card
transactions:
1. ACI Payment Gateway (yes, like KNET) – Burgan Bank
2. MiGS (KFH and others)
3. NBK (their own solution)
2. All have various integration requirements; however the
general rules for KNET apply.
3. Credit Card Integration (except for Burgan Bank) is easier
than Debit card.
4. By default, local banks will only accept locally issued
credit cards for online payment. Make sure you
specifically request international card access.
22. KUWAIT LOCAL VS.
REGIONAL
1. PROS:
1. Quick reimbursement of funds.
2. Easy support, works during your own business hours.
3. Flexibility of a banking relationship.
4. Only option to cater to debit-only market.
2. CONS:
1. Very poor integration options, other than redirect.
2. Very poor customization options.
3. Not friendly for international customer base (since the
bank’s logo is shown on the payment page).
23. REGIONAL
PROVIDERS
• You do not need to have a commercial license.
• One day setup of accounts.
• Very easy integration (basic) all the way up to complete
systems integration.
• A better, more full featured merchant interface.
• Most deal in major currencies only (USD, EUR).
24. PAYPAL
1. Well known brand (customer confidence)
2. Horror stories in terms of business:
1. Unexplained freezing/suspension of funds.
2. Support that is very convoluted.
3. Freezing of accounts.
3. Cannot withdraw funds to local accounts (only to US
account), can only use to pay for services using your
PayPal balance.
4. Overall Recommendation:
1. Only use it, if you are able to utilize the balance online for
other services.
26. MONEYBOOKERS/
SKRILL
1. One of larger, regional players.
2. First to offer direct debit to Kuwait.
3. “Comprehensive” Fee Structure.
4. Supports marketplaces/auctions.
5. Supports VISA Debit/Electron and Maestro (but really, no
bank in Kuwait offers this for online payments).
6. Supports AED,SAR,QAR,OMR,JOR
7. Supports recurring payments
8. Very comprehensive API
28. 2CHECKOUT
• Great, easy to use shopping cart interface. No
programming required, no SSL required!
• Reimburses in Kuwaiti Dinars
• Supports 8 Payment Methods:
• Visa, MasterCard, Discover, American Express
• Diners, JCB, PIN Debit, Debit, PayPal
• Requires approval process for your website:
• Need refund policy and privacy policy
• Need to look at your overall merchant website
30. CYBERSOURCE
• Full service provider (including traditional stores – “brick
and click”)
• The most comprehensive integration platform available.
• No redirects! Accept credit card payments directly, just like
Amazon, Google, etc. etc.
• Offline support
• Your partner of choice if you are looking to go global/
scale.
• Has offices in Dubai.
• Absolutely not cheap to setup.
• Parent company of “Authorize.NET”
32. CASHU
• The “local” global player.
• Excellent exposure in MENA.
• Pre-paid cards, so easy access for your clients. Machines
available in every corner.
• Multiple Business Offerings:
• Prepaid (cashU)
• Direct Debit
• Cash Management (COD collection service, UAE-only)
• IVR Integration (PSP)
• Reseller
• Simple integration platform
• Low risk of fraud, guaranteed payment
34. DO YOUR HOMEWORK
1. Know your “payment profile”:
1. Volume of transactions (how many?)
2. Value of transactions (how much money?)
3. Soft or hard goods?
2. Know your platform and limitations:
1. Do you have a business license?
2. Do you have a strong technical team?
3. Know your customers:
1. Do your research, ask questions. A/B testing.
2. Know where your customers are coming from, know their
profile.
35. DO YOUR HOMEWORK
1. Make sure your purchase workflow is complete before
you go for payment gateway integration.
2. Make sure you have:
1. A “Contact Us” page that lists a mailing address and a
phone number that works!
2. Return/Refund Policy
3. Fleshed out your design
36. CHOOSING A
PROVIDER
1. Ask questions! Check out their support page,
documentation.
1. Do they have a comprehensive FAQ?
2. Can you get an answer to your questions in three easy
clicks?
2. Check out other local merchants using providers.
3. Compare with the local offerings.
1. Local support/relationship can go a long way in ensuring
a smooth experience.