A payment gateway is a technology that enables online businesses to receive and handle diverse electronic payment methods on their websites. Essentially, it is an intermediary between the merchant and the customer’s preferred payment network.
.A few decades ago, cards were considered the most convenient payment method. However, with the digitalization of the world, new payment options have shown their benefits. And, one of these is contactless payment.
Is the payment world of the future cashless? With the rise of online payment systems, digital currencies, and online banking, it sure seems like it. But, what does that future consist of? Well, that’s what we will be discussing today.
Have you ever heard of open banking? What is it and how will it affect the future of finances? The idea behind open API for banking is quite interesting, and it opens a whole new world of possibilities. However, many people are not aware of its true potential.
How Is an Online Bank Different From a Retail Bank.Constant technological innovations and digitization have not skipped the banking industry. Consequently, retail banks have found a worthy opponent in the form of online banking platforms.
But are online banks trustworthy? Online banks take similar precautions, only in the digital world. These platforms implement multi-layered encryption, feature authentication protocols, set up firewalls, and rely on other safety measures to protect users and their data.
Online banking, also known as Internet banking, is a modern banking system provided by banks and other forms of financial institutions that allows clients to execute financial transactions and manage their finances remotely, that is, via the Internet.
When was online banking invented? Although banks started using computers to power ATMs and streamline some of their operations in the ‘60s, the development of online banking as we know it started taking shape in the‘80s.