Telegraphic transfer (TT) is an electronic method used primarily for overseas wire transactions for the transfer of funds. In reference to Clearing House Automated Payment System (CHAPS) transfers in the UK, these transfers are most frequently used system of banking. Also known as telex transfers, abbreviated TT, telegraphic transfers can

The most important thing about money is; can be count on its value and the value is stable over the time. Underpinning the value of money Fiat currency is legal tender whose value is backed and underpinned by the government that issued it. Why a fiat currency is better economic

Fiat currencies is regulated through the central bank. Governments control fiat cash supply and issue policies from time to time that impacts their value. Fiat money it is accepted as money because a government says that it’s legal tender, and the money’s ability to serve as a storage medium for

Vishing is a form of attack that attempts to trick victims into giving up sensitive personal information over the phone. While that makes it sound like an old-fashioned scam, vishing attacks have high-tech elements: they involve automated voice simulation technology, for instance, or the scammer may use personal information about

Cash is king in the shadow economy, where transactions go unreported and taxes uncollected. But electronic payments have the potential to squeeze out cash, increasing transparency and providing a much-needed boost to public finances. A deep dive analysis of the shadow economy area, with some practical solutions to show how

The term underbanked refers to individuals or families who have a bank account but often rely on alternative financial services such as money orders, check-cashing services, and payday loans rather than on traditional loans and credit cards to manage their finances and fund purchases. This may be because they lack

With online sales multiplying by the day, and 2020 predictions for the sector approximating at trillions of dollars, merchants must understand key market trends to stay afloat in a dynamic market. Payments, for instance, are vital in making the sales process successful. With the advent and widespread use of cellphones,

Generally, there are four main methods to integrate a payment gateway: Hosted gateway A hosted payment gateway acts as a third party, as it requires your customers to leave your website to complete a purchase. The pros of a hosted payment gateway are that all payment processing is taken by the

It’s no surprise that everyone who touches the transaction wants to get paid, including the issuing bank, the credit card associations (Visa, MasterCard, etc.), the merchant bank and the payment provider. At its most basic, every time you process a transaction, you pay several fees: Interchange: The issuer gets paid