How does Payment Gateway work in India?
If you’re an online business owner and set up your items to be displayed on the internet, choosing the right Payment Gateway is crucial. When the products purchased have been added to an online shopping cart, the buyer can then checkout. This is where the function of the Payment Gateway comes into play. It allows […]
A Brief Overview on Merchant Category Code
The Merchant Category Code (MCC) classifies a company’s category. Payment systems use merchant category codes to distinguish and categorize retailers and companies based on the services/goods that they sell. For example, retail stores use one code, while booking sites will use another. The standard ISO 18245 defines the professional business code. Thes
A Brief Overview of UPI Payments
India has taken an important step toward creating an economic system that is cash-free through the introduction of the Unified Payment Interface (UPI). The new payment system allows users to use their smartphones as online debit cards. It also makes the transfer and receipt of money instantly. The QR code concept eliminates the need for […]
How Does Online Payment Work?
An online payment system facilitates electronic payments for transactions online. It has grown in popularity because of the increasing use of online shopping and electronic banking. A transaction that is online usually is the process of transferring funds from a client’s account to the merchant’s bank account. The online transaction can be made
Importance of Tokenization in Making Online Payments Secure
Tokenization has grown from something that is managed within the confines of a few experts using specific software to becoming the ultimate key to improving customer satisfaction during paying. At OnionPay, we are incredibly grateful for these innovative solutions. As such, this article will try to explain the concept of tokenization and its underlying benef
Everything You Need to Know About Payment Gateway Settlement
In the realm of payment processing, one of the most commonly used phrases shop sellers are aware of is “payment gateway settlement“. In this article, we will be shedding light on various aspects and functions of payment gateway settlement. What is Payment Settlement? Payment processing typically occurs in two significant steps: Authorization and
How Can Payment Aggregators Help Avoid Payment Fraud For eCommerce Companies?
With the evolving conditions, credit unions must be aware of cybersecurity within the “new normal” environment by implementing a comprehensive security plan that will secure their own information as well as the information of their cardholders. Digital Payment gateways, also known as “payment portals,” are now essential for the securi
Everything You Need To Know About Online Payment Security
While online payment systems are convenient for processing payments online, your business and customers still need to be confident that your digital payment gateway security measures are regularly updated and properly working. You can avoid serious problems by paying attention to online payment security measures and giving yourself peace of mind while runnin