Cashless payments for purchasing goods date back to the year 1914. In the US, Western Union came up with metal cards, giving free deferred payment privileges to their preferred customers as a customer service goodwill gesture. This became known as ‘Metal Money’. However this card could only be used for

Credit card processing especially for ecommerce has very complex risks and it is different for every business. There are a number of factors that can help determine the level of risk for a merchant; merchant’s longevity, industry, business model, products and services offered, financial stability and processing history are just

Gambling Industry Online gaming is a fast growing industry and has become one of the fastest moving sectors in the online entertainment industry.  Estimates indicate that, worldwide, gaming nearly generated $60 billion in 2005 with approximately $3 billion in commission revenues. With this tremendous growth, many online gaming merchants face

Payment Service Provider (PSP/IPSP) An online business requires a solid and secure link between its paying customers and the bank. A Payment Service Provider  is that link which offers merchants online services for accepting electronic payments by a variety of payment methods including credit and debit card, bank-based payments such

Ecommerce Ventures into a New Phase TOKYO: Japan’s biggest ecommerce platform, Rakuten, has claimed that online retail is entering a new phase as the technology that is available to companies in this sector is sophistically growing. Hiroshi Mikitani launched Rakuten in mid-1997, and has since developed it into one of

4 Reasons for Retailers to Have a Mobile Application Mobile Commerce is said to be as “the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology”. Mobile Commerce is one of the fastest growing retail segments and is becoming a must-have for online retailers. It

What is SWOT analysis? – It is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats in a business. The key to a SWOT analysis is to identify the internal and external factors to achieve a company’s objective. Strengths and Weaknesses are the internal factors that

A payment gateway is a network communication between the customer, bank and business owner. The processing system is either operated by a bank or third party merchant like PayPal and AWEPay, to transmit money from the customer’s account to financial institutions. A payment gateway is a service provider of e-commerce

Others 1. Why should I choose AWEPay? The people behind AWEPay have extensive knowledge of the industry, with over 10 years of experience dealing with credit card and online payments. Thus, AWEPay has been built upon the foundation of years of careful observation and research to provide a service relevant

General Finance 1. Fees and charges Below is the list of transactions of which charges may apply: ·         Merchant discount rate (MDR) – Per transaction ·         Transaction Fee – Per transaction (transaction cost being the sum of the authorization cost and settlement cost. A declined transaction will only be charged