Before understanding what a data warehouse is, let us first get the definition of a warehouse. In the traditional sense, a warehouse is a building where a company or an enterprise stores its raw materials or finished goods for distribution.
The financial industry is one of the fastest-growing sectors in the world today. Companies in this sector have welcomed digital transformation to make their business processes more efficient. Over these years, some basics remain unchanged due to their usefulness. As it is often said, “if it is not broken, don’t fix it.” IBAN, BBAN, and BIC are some codes people dealing with banks have certainly come across. Even though these codes have been around for decades, they are still confusing to lots of users. So, in this article, we will explain all these codes, their structure and where you can find them.
Data breaches and credit card information theft are among the top issues faced in this digital transformation era. There were about 389,845 credit card fraud reports in the US in 2021. Even tech giants like Adobe have fallen prey to cyber criminals, who got access to the credit card information of over 3 million users.
In this article, we will look at what a merchant of record is and what benefits this merchant model brings to various businesses.
In the process of processing payments, two banks are obligatory participants – the issuer and the acquirer. The payment scheme of an online store is quite complicated, and if you are planning to start selling goods or services on the Internet, it is important to know the difference between issuer vs acquirer. In this article, we will explain what an issuing bank and an acquiring bank are and how they interact with each other when processing transactions.
Each merchant has its own identifier (MID). It is necessary for a number of operations that take place within a single transaction. In this article, we will tell you what merchant number identification is, why you need it, and what you need to know about it.
