Fiat money means all kinds of money that are made legal tender backed by a government. The term is usually reserved for legal-tender paper money or coins that have face values and not pegged against the commodity values such as gold or silver. Historically, paper money and banknotes are used

China’s digital payments revolution China is leading the new revolution in digital payments. In the past decade, China has leapfrogged magnetic cards, moving to a system based on smartphones and QR codes (two-dimensional bar codes), and runs through their own big tech firms: Alipay running through Alibaba (China’s version of

Printing money, you may hear it all the time in economics discussions from economists in every rapid evolving field, from financial types, from reporters and everyday news consumers, and from politicians across the spectrum. For some participants, it’s the most bitter invective you can hurl. It explains the moral decline

Is there a conspiracy to create a digital payment society? Yes, conspiracy theorists arise as always. Everyone loves a good conspiracy theory, so why not have one that deals with something near to us, our money. But not just our money, but how we spend it as well. How we

What is Cryptocurrency On-Ramps and Off-Ramps? In the world of cryptocurrency, getting money in and out of the ecosystem required the use of Cryptocurrency On-Ramps and Off-Ramps.  Simply stated on-ramps and off-ramps are cryptocurrency exchanges that allow for deposit and extraction of value from a Cryptocurrency Exchange.   Cryptocurrency On-Ramp

What is a Merchant Category Code (MCC)? Merchant category codes (MCC) are four-digit numbers used by an issuer of a credit card to categorize the purchases that customers complete using a particular card. There are several meanings of merchant category codes. They also decide the incentives that customers earn for

QR Code payment QR code payment is a contact-less payment method where payment is performed by scanning a QR code from a mobile app. This is an alternative to doing electronic funds transfer at point of sale using a payment terminal. QR codes are two-dimensional quick response codes that are

What is a prepaid debit card? A prepaid debit card is an alternative banking card that only lets you spend the money you load onto the card. Like a debit card, a prepaid card works at any merchant that accepts its payment network, such as Visa or Mastercard. It’s safer