Card Not Present (CNP) Transactions
CNP transactions occur when the cardholder is not physically present, typically used for online purchases. This method includes payments made via online forms (also called e-commerce transactions), telephone orders, mail orders, or recurring billing.
Key Features
- Flexibility: Facilitates a wide range of online transactions.
- Security: Requires robust fraud prevention and verification mechanisms.
- Global Reach: Ideal for e-commerce and international transactions.