Read advice from our team of experts
What is a Data Warehouse?
Before understanding what a data warehouse is, let us first get the definition of a warehouse. In the traditional sense, a warehouse is a building where a company or an enterprise stores its raw materials or finished goods for distribution.
IBAN, BBAN and BIC. What Are They, And How Do I Find Them?
The financial industry is one of the fastest-growing sectors in the world today. Companies in this sector have welcomed digital transformation to make their business processes more efficient. Over these years, some basics remain unchanged due to their usefulness. As it is often said, “if it is not broken, don’t fix it.” IBAN, BBAN, and BIC are some codes people dealing with banks have certainly come across. Even though these codes have been around for decades, they are still confusing to lots of users. So, in this article, we will explain all these codes, their structure and where you can find them.
PCI Compliance: What it takes to become PCI compliant
Data breaches and credit card information theft are among the top issues faced in this digital transformation era. There were about 389,845 credit card fraud reports in the US in 2021. Even tech giants like Adobe have fallen prey to cyber criminals, who got access to the credit card information of over 3 million users.
What Is a Merchant of Record?
Merchant of record allows companies to focus more on creating and developing their products rather than on the nuances of receiving payments. MoR allows you to offload operational activities and not waste your resources on tax compliance or international payments. In this article, we will look at what a merchant of record is and what benefits this merchant model brings to various businesses.
Acquiring Bank vs Issuing Bank
In the process of processing payments, two banks are obligatory participants – the issuer and the acquirer. The payment scheme of an online store is quite complicated, and if you are planning to start selling goods or services on the Internet, it is important to know the difference between issuer vs acquirer. In this article, we will explain what an issuing bank and an acquiring bank are and how they interact with each other when processing transactions.
What’s a merchant ID and how to protect it?
Each merchant has its own identifier (MID). It is necessary for a number of operations that take place within a single transaction. In this article, we will tell you what merchant number identification is, why you need it, and what you need to know about it.
How to prevent and resolve chargeback disputes
Chargebacks exist to protect consumers from fraud. However, this tool often creates problems for businesses. This is an important risk factor to consider when developing a risk management strategy. We will tell you what fraud chargebacks are, how they work, and how you can protect your business from them.
What is third-party payment processing?
Every company that does business online needs to process payments. If earlier it was possible to sell goods or services for cash only, in the modern world, payments are made mostly online. However, third-party payment processing may be required for online payments to work effectively. In this article, we will talk about payment processors for small businesses in more detail.
How to Accept Bitcoin Payments
Bitcoin is the main world cryptocurrency. This digital coin is widely used as a means of payment around the world. Many online stores accept Bitcoin to pay for goods and services. However, to accept cryptocurrency payments, you need the appropriate instruments.
What is an ACH Payment?
A payment by ACH is an electronic funds transfer between banks in the United States. It is carried out through the ACH network without using Visa or MasterCard payment systems. This type of payment is very popular among businesses. However, before you start working with it, you need to know the details. In this article, we will explain what an ACH payment is, how it works and what its features are.
Payment gateway vs. payment processor
Online sales continue to grow and have increased sharply during the COVID-19 pandemic. Over the past two years, the industry has received an additional impetus for growth. According to American Express Digital Payments, 71% of online store managers agreed that their sales through mobile services have increased.