Payments

Card-Not-Present (CNP) Transactions and Why They Matter

It’s critical to provide your customers, both in-person and online, with various payment options. To make the buying experience easier for your customers, you must provide them with as many options as possible. Not all payment methods are made equal. Card-present transactions (CP) and card-not-present transactions (CNP) are the two basic payment types. If you […]

Current E-Commerce Trends

COVID-19 changed the world, and it has had a lot of impact on the economy globally. During the lockdown or movement restrictions, many retail businesses found a way to thrive even while hoping an end to the pandemic would come. While physical stores were closed, companies began to look at e-commerce alternatives. They were able […]

What Is IMPS – Immediate Payment Service?

Immediate Payment Service (IMPS) is a money transfer system in the Indian banking system. It allows you to make 24/7 real-time electronic interbank funds transfers like the existing RTGS and NEFT facilities. Users can use the facility through multiple channels, including ATMs, mobile phones, SMS, and the internet. The system is built on the NFS, […]

What Is UPI Payment?

UPI payment is a single-window interface that allows you to transfer money between bank accounts. This will enable you to send or receive money or scan a quick response (QR) code to pay an individual, trader, or service provider to shop, settle bills, or authorize payments. It is a simple, free, and instantaneous mode of […]

Acquiring Bank vs. Issuing Bank: What’s the Difference?

Multi-billion credit/debit card transactions happen every year, and acquiring banks and issuing banks are the two driving forces, ensuring money from these transactions gets to the intended destination. Any business that collects payments for services or goods must understand these important systems and how they function in the transaction process. So, what is an acquiring […]

EPOS Systems Explained

New solutions are discovered every time to make it easy for businesses to handle their transactions. The EPOS system is one of the latest innovations that has proven not only to be efficient or effective. While many new businesses are beginning to imbibe this up-to-date technology, we will be looking at its benefits and how […]

What Is an E-Wallet?

An E-Wallet is a type of electronic card. Transactions made via computer or smartphone can be made using an e-wallet. To use it like a credit or debit card, you’ll need an account, and when making payments, an E-wallet must be connected to a bank account. Digital wallets and E-Wallets serve a similar purpose, but […]

What Are Recurring Payments?

A recurring payment is not a strange, complex concept. It is simply those predictable, repetitive payments you make weekly, monthly, or yearly. This can be for all kinds of stuff, ranging from utility bills to entertainment subscriptions like Netflix. The money you keep having to pay so that you continue to have access to a […]

Payment Glossary for Commerce

Commerce is all about buying and selling goods. But, with the recent advancements in technology, commerce has evolved into something bigger, where businesses can now trade anywhere with ease. As a result, before a business can enter the eCommerce space, there is some payment terminology to be familiar with. Account Updater This is a service […]

Card-Not-Present (CNP) Transactions and Why They Matter

Payment Glossary for Commerce

Mobile Commerce Explained

The globe has seen significant breakthroughs in business, goods exchange, and information with the introduction of the internet and wireless technology. With the continued growth of mobile commerce technologies, traditional commerce is rapidly losing its way to e-commerce. People are more reliant on mobile gadgets than ever before. Mobile commerce is a fertile ground that […]

What Is a POS Machine?

With the growth in consumer expectations and the advancing needs of meeting them, businesses constantly struggle to find the best-automated machines. These machines help complete a specific task on time without requiring too much physical labour. As such, other employees can focus on more productive tasks and develop new strategies to quench the customer’s expectations. […]

IMPS vs NEFT in Banking

With the need for banking service digitization becoming imminent, we’ve seen many digital payment services come to life, including NEFT and IMPS. These two services are fast becoming some of the best available to customers. Although they provide digital payment services, IMPS and NEFT have many discrepancies. What Is NEFT? National Electronic Funds Transfer (NEFT) […]

Payments

Card-Not-Present (CNP) Transactions and Why They Matter

Current E-Commerce Trends

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