Understanding the terminology within the Payment Facilitation model is essential for anyone involved in the payment processing ecosystem. These terms form the foundation of how payments are processed, how risks are managed, and how compliance is maintained. As the payment industry continues to evolve, staying informed about these concepts will enable businesses to navigate the complexities of payment processing effectively.

Tap-to-pay technology represents more than just a speedier payment method. It’s an experience that aligns seamlessly with how consumers live, shop, and think about their relationship with brands. Today’s customers crave efficient, secure, and meaningful interactions, and tap-to-pay delivers on all three fronts. As a result, retailers and service providers that embrace contactless payments don’t merely keep pace with a trend—they position themselves as thought leaders in the future of commerce, ready to adapt, innovate, and delight their customers at every touchpoint.

The payments ecosystem has seen remarkable growth over recent years, driving the growth of new players, technology, and risks in an increasingly complex landscape.  Throughout this growth, effective risk management frameworks are paramount. Visa’s recent move from the Global Acquirer Risk Standards (GARS) to the Visa Acceptance Risk Standards (VARS) signals a continued focus on addressing contemporary risks and ensuring the resilience of the payments system. 

With changes that impact all parties from merchant to acquirer, VARS represents a notable evolution in approach from Visa.

In the realm of economics and finance, the terms legal tender and fiat currency are often mentioned, sometimes interchangeably. However, they represent distinct concepts within a country's monetary system. This article explores the differences between legal tender and fiat currency, shedding light on their unique roles in modern economies.

The world of embedded payments is rapidly evolving, transforming how businesses and consumers interact financially within digital platforms. From seamless e-commerce transactions to in-app purchases, embedded payments offer convenience and speed, integrating financial services directly into software and platforms. However, as with any financial service, Governance, Risk, and Compliance (GRC) considerations are critical to ensure security, protect consumers, and maintain the integrity of the payment system.