mPOS, evolving from the traditional POS system, brings new possibilities and opportunities mostly for the retail and hospitality industries. An mPOS or mobile POS is a portable point of sale on a smartphone or tablet that functions as a register. A mobile POS system is an ideal way for businesses such as food trucks, home…
POS or Point-of-Sale is the moment of transaction that takes place between a merchant and a customer when purchasing a product or service, commonly using a point of sale system to complete the transaction. For example, if you buy a product and proceed to checkout, the POS system generates a receipt. Merchants commonly use a…
PSD2 – The Future of Banking The Second or Revised Payment Services Directive (PSD2) is a fundamental piece of payments-related legislation in Europe, which entered into force in January 2016. Retail banking has been in the game-changing year since 2018. Banks’ dominance on their customer’s account information and payment services will disappear with the PSD2…
Three Factors That All Merchants Should Consider The world tends to be moving toward a cashless society. In the recent times, we believe that all transactions will be made using credit and debit cards along with other forms of electronic payment. This view seems realistic judging by the increase in credit and debit card usage.…
3D Secure (Three Domain Secure) is an XML-based protocol designed to be an additional security layer for online credit and debit card transactions. Also known as ‘Payer Authentication’, this service provides fraud liability shift and reduced interchange. As a result, this helps merchants to prevent fraud in transactions. Visa and MasterCard initiated this essential security measurement. And they…
Merchant Banking In the banking sector, online banking is the most evolving concept. Merchant banks mostly deal with commercial services on a large scale or with small enterprise. And the merchant accounts have transformed the way people do banking. As a result, online transactions have become easier and quicker. Account Management Account management is one…