Pay-in
Pay-in What is the pay-in? The pay-in term means the deposit of funds to the bank account. This definition also relates to the stock market because everything that appears in the stock market is called pay-in. It is popular as a...
PAN (Primary Account Number)
PAN (Primary Account Number) The primary account number or payment card number is a card identifier. One can find it on the payment card. This unique card identifier commonly consists of 14, 15, or 16 digits. Sometimes, the primary account...
Open Access Network (OAN)
Open Access Network (OAN) What is Open Access Network (OAN)? The OAN stands for the main physical network infrastructure. Numerous providers handle it to bring services to users.In OAN, the owner doesn’t provide services for the network, because they are...
Open Source E-Commerce Platform
Open Source E-Commerce Platform What is Open Source E-Commerce Platform? An open-source e-commerce platform is a software tool that allows merchants to build and manage a digital storefront for their specific services or products. Moreover, this type of e-commerce platform...
On-Demand Economy
On-Demand Economy What is On-Demand Economy? The on-demand economy is an economic model that connects digital technologies and services. Food delivery, taxi, repair service or online tutors are on the list. This connection usually happens through a technological service. For example, through a website...
Omnichannel
Omnichannel What is Omnichannel? Omnichannel defines the content strategy which companies apply in order to better the user experience.It signifies that there is a combination of distribution, and promotion along with communication channels on the back end. It is based...
Offline Card Transaction
Offline Card Transaction What is Offline Card Transaction? Offline card transaction is a type of transaction when the person uses a credit/debit card to transfer money. The transaction goes the trader’s account from the checking via credit card processing network....
Non-Bank Financial Institution (NBFI)
What is Non-Bank Financial Institution (NBFI)? The non-bank financial institution stands for establishments that have a connection with finances but don’t possess a specific banking license. These organizations enable clients to use different banking services among them loans and credit...
NFC Sticker
NFC Sticker What is NFC Sticker? The term NFC Sticker defines the tags that can be applied to store and address the information. Nowadays, the customer can notice such stickers at bus stops, in shops, and in financial establishments. NFC...
Near Field Communication (NFC) Technology
Near Field Communication (NFC) Technology What is Near Field Communication (NFC) Technology? The near field communication (NFC) is a contactless technology. It allows customers to pay for goods/services by placing the cell phone near the other tools (terminal, phone, and...
NACHA File Format
NACHA File Format What is Nacha File Format? NACHA file format is one of the most popular types of payment files. A NACHA file allows to execute domestic ACH payments through the Automated Clearing House Network. NACHA file looks like...
Mobile Wallet
Mobile Wallet What is Mobile Wallet? Mobile Wallet is a special kind of a virtual wallet which collects the data about the payments with the help of electronic devices. Such wallet is an advantageous way for a person to conduct...
Mobile Payment
Mobile Payment What is Mobile Payment? Mobile Payment is a certain amount of money that users pay for services or goods via electronic tools among them tablets, and smartphones. This system is also used in the process of transferring funds...
Mobile Checkout Solution, mCashier
Mobile Checkout Solution, mCashier What is a mobile checkout solution? Mobile Checkout Solution provides customers with the possibility to use smartphones in order to escape from the usual checkout flow. The procedure of a mobile checkout is very simple: the...
Mobile Card Reader
Mobile Card Reader What is Mobile Card Reader? Mobile Card Reader (MCR) is a small tool that can be linked to the phone or the tablet in order to obtain the payment from the holder’s credit card. The device can...
Minimum Required Reserves (MRR)
Minimum Required Reserves (MRR) What is Minimum Required Reserves (MRR)? Minimum Required Reserves defines the requirement for the clients to have a particular sum of money as reserves on their actual accounts in the financial establishments. The term commonly appears...
MICR Number Method
MICR Number Method What is MICR Number Method? MICR Number Method is a recognition technique applied generally in the banking sphere in order to assist the processing of cheque. The figures are stamped in unique typefaces with magnetic ink or...
Merchants’ Positive Lists
Merchants’ Positive Lists What is Merchants Positive Lists? The vendors usually don’t want to have a deal with customers if the process of payment is complicated or even if during this process some fraudulent actions from the customer been noticed...
Merchants’ Negative Lists
Merchants’ Negative Lists What is Merchants Negative Lists? Merchants’ Negative Lists are the lists created by the merchants in order to mark the clients with whom the merchants experience some problems. In this meaning, the list involves the structure designed...
Merchant Service Charge (MSC)
Merchant Service Charge (MSC) What is Merchant Service Charge (MSC)? Merchant Service Charge is a fee paid by the merchant to the acquiring financial organization. This fee is influenced by a wide range of aspects. Among these aspects are regulated/...
