Every company has a “legal” or “real” name. That legal name is the name of the business owner or owners in the case of a ...
The Fundamentals Of Payment Processing
Every business requires a payment gateway as part of its payment life cycle. Businesses must have a payment process in place to allow custo...
Meaning and Types of High-Risk Business
The banking system divides the merchant into three distinct groups. There are three kinds of risk levels: high, medium and low. In high-risk busi...
Merchant Category Code(MCC) & Miscoding
What is Merchant Category Code A merchant category code is a four-digit code that identifies the merchant’s category. Banks and payment ...
Payment Terms Simplified
So that’s where I’m at. As a newcomer to the geek world, I’m doing my best to grasp terms that I wouldn’t have been caugh...
Referral Partnership In Payment Industry
What is a referral partnership? A referral partner is a business partner who, in exchange for anything of value, such as money, promotes...
The Benefits and Drawbacks of having an Offshore Bank Account
An offshore bank is located outside of the depositors’ country of residence. Non-residents in the bank’s jurisdiction make up the maj...
Merchant ID: Everything you need to know about (MID)
What is a Merchant ID (MID)? When a business opens a merchant account with a payment gateway, the acquiring bank assigns it a merchant ID, whi...
Advantages and Disadvantages of Digital Payments
What is the definition of digital payment? Any transaction in which value (e.g., money) is electronically transferred from one account to anot...
How to Secure Online Payment Processing?
One of the most critical challenges is the security of online payments. Protecting clients from online threats and cyber theft to earn their trus...