By http://judopay.com | http://hub.judopay.com
When you make a purchase online, as an end consumer you see the transaction fail or pass. But behind the scenes is a detailed process flow taking place to ensure your information is securely passed to the relevant parties in order to assess your purchase.
In this video Dennis Jones, CEO of judo, explains the players involved in mobile payments. He uses a customer transaction and walks you through all the possible scenarios.
If you are a business looking to integrate mobile payments or you are simply interested in this industry, this video will help you understand payments and the pricing models by businesses.
About: Judo Payments is Europe's only mobile first card payments company for apps and mobile web. Take payments on any mobile device in a fast, secure and simple way and create a successful mobile story.
starting was good, but at the end mobile payment was finished in hurry without explaining the role of mobile, cards, merchants. Please, explain the use of Digital wallet (like Apply pay, PayPal) in web payment.
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Banks are issuing counterfeit money! Credit cards as they are issued is
illegal per article 1 section 8 clause 5 of the US constitution. here
is something that they will not teach you in this video. Where does the
money come from when money is placed in a credit card account? FROM
THIN AIR. Banks are creating their own proprietary, endogenous money
and inundating the economy with it! There are so many dumb people out
there that cannot figure out how this hurts them economically.
"and if they are really "making money", there is almost nothing wrong with that"
So the fact that banks acquire houses for free does not raise alarms in your view? And what about article 1 section 8 clause 5 of the us constitution?
the money comes from the fees(loan(s) and some other shit)that they charge,
and if they are really "making money", there is almost nothing wrong with that, "money" is just something that people make up as a concept for paying, "money" in itself is nothing, cash is just a physical presentation of "money", the government print cash too, does that mean they're making money?
If you barely use credit cards and write checks. You can also balance better that way. The Extra fees coming from debit usage and credit cards add up at the end of the year to a pretty fee. So, it's not nice to keep thinking credit cards or better or debit cards. Never have a need for money. Never want to much of what you can't afford and don't eat it all up in one week. Grow your money and get ahead and stay ahead only replace what you spend.
people already hack the shit out of our daily lives so coming out with mobile apps for anything wouldnt make a difference i see cash and coins going existent the banks would still keep resources intact digital payment is no different then wat we used over 20 30 years being cards for paying mostly everyone is on mobiles today security would advance where so a terrorist named Hades wont hack the army backed by a senator that trolled the earth making him the villain after all
Very nicely done. This goes a long way toward explaining your system to the American public.Further, it gives me the opportunity to explain why the chip and pin was never accepted in the US. That is until huge data breaches, such Target and Home Depot, created a window of opportunity for EVM to use fear, uncertainty and doubt, plus lots of PR money to proclaim that the chip and pin card would solve our data breach problems.Chip and Pin cards are a European solution looking for a US problem that doesn't exist.The reason the US banking system never adopted C&P is this:In the US, PINs used with mag-strip debit cards protect
the centrally located debit account record.In Europe, PINs used with Chip & Pin cards protect the card.
In the US cards are presented to the merchant at the Point of Sale. Debit card PINs must than be encrypted at the keyboard of the merchant’s card reader. The pin info is combined, by the merchant with the transactional
data and sent by the merchant the same way you show for the C&P European flow. US Mobile Payments do not change that flow. The Smartphone does nothing more than holding an electronic version of card. Instead of swiping the card, the app sends the card number over a tiny NFC network. As we say in the banking business, there's nothing more to see here, move along. Under American law, credit card transactions require both a signature and a CCV2 located on the back of the card. A credit card transaction is the granting of a loan and therefore these transactions require
that a human witness the signing and check the CCV2. For card not present transactions (on-line sales), the setup function is used to authenticate the card holder's identity and the CCV2 code on the back of the card validates that the card is present during the setup.Send me a note if you'd like more info on the American Payments system. [email protected]
Great explanation, one point of contention; the schemes do not take any interchange, the interchange gets passed on to the issuing bank. If I'm wrong, then pls do correct me.
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