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

A prepaid credit card is a secured card issued by a financial institution that has been secured with a prepayment. These cards can be compared to prepaid debit cards which use preloaded funds for transactions. Breaking Down Prepaid Credit Card Borrowers can utilize prepaid credit cards with a thin credit

What Does Application Programming Interface Mean? An application programming interface, or API, is a set of programming code that queries data, parses responses, and sends instructions between one software platform and another. In the context of trading, a trader will often use an API to establish a connection between a

I believe most of you heard of the words payment gateway but has little understanding of it. It is a merchant service provided by an e-commerce application service provider that authorizes the processing of credit cards or direct payments for e-businesses, online retailers, bricks and clicks or traditional brick and

A payment service provider (PSP) offers shops online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time bank transfer based on online banking. Payment Service Provider  use a software as a service model and form a single payment gateway for their clients (merchants) to

What Is a Payment Gateway? A payment gateway is a technology used by merchants to accept debit or credit card purchases from customers. The term includes not only the physical card-reading devices found in physical retail stores but also the payment processing portals found in online stores. However, physical payment gateways in recent

ANTI MONEY LAUNDERING   Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money laundering laws cover a limited range of transactions and criminal behavior, their implications are far-reaching. For example, AML regulations require banks and

A Payment Gateway is an e-commerce software application that allows online transactions to take place and offers a means to accept online payments. It is a pass-through mechanism through which cards, net banking and e-wallet payments are done. Payment aggregators are service providers through which e-commerce merchants process payments. Payment