This is the oldest method of transferring funds to one account to another online. In this process funds are transferred electronically using hand held device or web. For both type of payment you have to register the payee in your account and only then you can pay that person. To…
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UPI Payment system
UPI payment system is electronically transfer funds from one account to another like NEFT and IMPS. But unlike NEFT and IMPS you do not need to register them into your bank account before transferring money, therefore it can also use for online payments. Working of UPI payment system To use…
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How Online Wallets like PayTM, FreeCharge, MobikWik working?
Online wallets are the easiest way to take payments from customers is to make account with companies like PayTM, FreeCharge and MobikWik. These wallets are already very popular among the people who transact online as they are providing huge discount on transactions done by their website to acquire the market…
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How Card Swipe machine or POS Terminal working? Charges on POS terminal!
POS (Point of Sale) terminal is a payment terminal provided by the bank on which the merchant swipe or dip cards to receive payments. Type of cards can be different like Debit, Credit or any meal cards. Cards having chips embedded need to be dipped into the machine while card have…