The most popular mobile payment methods in China. WeChat Pay and Alipay are two of the most popular mobile payment methods in China, and most people pay on those platforms using barcodes, known as QR codes, on their phones. Not many places accept foreign cards like Visa or Mastercard and tourists
What is QR code? QR is short form from Quick Response. The QR Code is a two-dimensional code. It has a pattern of black squares that are arranged on a square grid with a white background. Imaging devices such as smartphone cameras can be used to read these QR Codes.
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
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
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
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
There are several payment gateways in Southeast Asia which provide the same services for merchants and customers. In terms of offering services such as online banking, card processing, and even offline payment, every payment gateway may look similar.
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