Author: Vellis Team

If you’ve been following the digital finance space, chances are you’ve heard about open banking APIs. But what exactly are they, and why are they so important? 

Open banking security has become one of the most important topics in the transformation of the financial world. It allows banks, fintechs, and trusted third parties to share financial data through secure digital channels, giving customers more control and access to innovative financial services. 

Embedded finance is changing the way people and businesses interact with money. At its core, it means embedding financial services, such as payments, lending, insurance, or even investing, directly into non-financial platforms and apps. Instead of using a separate bank or financial provider, users can access these services instantly within the tools they already use,…

Running a small or medium-sized enterprise (SME) is no small feat. Between juggling cash flow, finding financing, and managing day-to-day operations, many entrepreneurs face an uphill battle when it comes to financial management. But with open banking for SME, small businesses have better access to data-driven financial tools that drive growth.

When customers decide how to pay, it’s rarely just a rational transaction. The psychology of paying for something plays a powerful role in shaping customer decisions, often influencing whether they complete a purchase, abandon a cart, or come back as loyal buyers. 

Blockchain in digital payments is a decentralized system that records and verifies transactions across a secure, shared network. Unlike traditional payment systems that rely on banks or intermediaries, blockchain allows direct peer-to-peer transfers with minimal delays and lower costs.

Payment tokenization is a security process that replaces sensitive card details with a unique digital token, making transactions safer. Instead of storing or transmitting real card numbers, businesses use these tokens, which hold no value if intercepted.

Credit card authorization is the process by which a payment processor verifies that a cardholder’s account has sufficient funds and that the transaction is legitimate before funds are transferred. This step is essential for securing payments, reducing the risk of fraud, and ensuring that both merchants and customers are protected.

Voice payment processing is a technology that allows consumers to make purchases or send money using simple voice commands, often through digital assistants like Alexa, Siri, or Google Assistant. In today’s fast-paced digital economy, this innovation is reshaping how people shop, pay bills, and manage finances.