What is bitcoin and how does it work. Say there’s a coin that’s currently worth hundreds of US dollars, but it’s not made of gold, or platinum, or any precious metal. In fact, it’s not the kind of coin that you can hold in your hand or stick in a

Crypto-currency is digital currency, or a “digital value representation,” as the Internal Revenue Service (IRS) puts it. You can’t see it, hold it or put it in your wallet. It has been in use for more than a decade, and has grown in popularity in recent years. Cryptocurrency employs a

In the mid-90s, a digital asset is a digital entity owned by an individual or company. Examples include digital photos, videos, and songs. These assets are not tangible, meaning they have no physical presence. Today, inventions such as cryptocurrencies are part of the digital asset revolution. Bitcoin represented the biggest change to the meaning of the term digital asset to date.

Credit Cards vs. Debit Cards Credit cards and debit cards look almost similar, with 16-digit card numbers, expiration dates, and personal identification number (PIN) codes. But that is where the similarity ends. Debit cards allow bank customers to spend money by deducting money they have deposited at the bank. Credit cards

What is a Payment Processor? In the simplest terms, a payment processor (also known as PSP – Payment Service Provider) is a company that handles transactions between two parties, such as a merchant and a customer or banks. It accomplishes the payment by relaying the payment information, like a credit

What is a Digital Wallet? Also known as an e-wallet, a digital wallet is the online equivalent of a physical wallet. It refers to an electronic device or online service consumers can use to make electronic transactions. How is it works? -You need to install the software/app of the digital

The changing consumer behavior has transformed the payments industry significantly. Once dominated by the traditional checking/savings accounts has now turned to seamless “one-click” messenger applications like Alipay, WeChat and PayTM. Payment firms such as Stripe, Adyen and PayTM are disrupting banks, credit card companies and payment processors. These companies seek

Secure Sockets Layer ( SSL) is a common security technology for creating an encrypted connection between a server and a client — usually a web server (website) and a browser, or a mail server and a mail client (e.g., Outlook). SSL allows encrypted transmission of confidential information such as credit-card