Misc Payment Concepts
Misc Payment Concepts Now that we have seen how payments and payment processing work in general, we can now move on to understand some payment-related terminologies with some examples. These are crucial to further...
Charges and FOREX (FX)
Charges and FX This article will attempt to understand how different charges are collected by the bank during payment processing. Charges are one of the ways banks make money, FX is another. Although FX...
Payment Engines
Payment Engines: I am really excited about this topic as it’s my favorite and the one in which I have the most experience. In this article, we will be discussing a piece of software...
Accounting Entries in Payments
Accounting Entries in Payments As promised in my previous article, in this one we will talk about how money moves from one party to another. Before we start, let me introduce you to a...
Payment Messages
PAYMENT MESSAGES We might be getting ahead of ourselves here. There is a lot to understand about payments before we discuss messages, right?! I have a different view on this. My feeling is that...
Parties in a Payment System
Let’s Party Nope!! These are not the parties you very much enjoy with your friends. These are the parties that act as pillars of the financial system. We learned from the introduction that completing...
INTRODUCTION – FUNDS TRANSFER
FUNDS TRANSFER If you have transferred money online and have wondered “what happens ??” after we enter details of the beneficiary in our internet/mobile banking portals and click on the ‘Submit’ button, then this...
