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A giro transfer, often shortened to giro (/ ˈ dʒ aɪ r oʊ, ˈ ʒ ɪər oʊ /), [1] is a payment transfer between current bank accounts and initiated by the payer, not the payee. [2] The debit card has a similar model.
Two principal processing methods can be used: chip-and-pin guaranteed girocard payment and chip-and-signature non-guaranteed Electronic Direct Debit (ELV, Elektronisches Lastschriftverfahren). About 770,000 places in Germany accepted girocard payments in summer 2016 (approximately one location per 106 inhabitants).
The NETS Group (comprising NETS, BCS and BCSIS) provides a full suite of payments and financial processing services including direct debit and credit payments at point-of-sale (NETS) and online (eNETS), mobile payments (NETSPay), card services (CashCard, FlashPay card), electronic funds transfer (FAST, PayNow, GIRO) and payment and clearing ...
By the end of 2010, the company had acquired TNB Card Services, [9] National Processing Company (NPC) [10] and certain assets of Springbok Services, Inc. Prepaid Platform. [11] In June 2011, Fifth Third Processing Solutions assumed the Vantiv name. [12] The company adopted the name "Vantiv" in June 2011 as a step towards becoming a public company.
Visa credit and debit cards are seen in this picture illustration taken Aug. 2, 2022. (REUTERS/Benoit Tessier/File Photo) (Reuters / Reuters)
The Square Reader was the firm's first product. It accepts credit card payments by connecting to a mobile device's audio jack. The original version consisted of a read head directly wired to a 3.5 mm audio jack, through which unencrypted, analog card information was fed to smartphones for amplification and digitization. [52]
Consider these factors when choosing payment apps for credit card processing: Payment methods: Most providers support major credit and debit cards, like Visa and Mastercard.
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