Author: Vellis Team

Card network assessments are fees charged by major card networks on every credit or debit card transaction. These fees are not the same as merchant or processor fees; rather, they are collected by the card networks themselves to fund and maintain the global payment infrastructure that enables billions of transactions daily.

ISO 20022 is an international financial messaging standard designed to improve data quality, consistency, and interoperability in electronic payments. It’s rapidly being adopted by major global systems such as SWIFT, SEPA, Fedwire, and CHAPS, reshaping how financial institutions communicate and process transactions.

A dual banking system is a financial structure that allows both state-chartered and federally chartered banks to operate under separate regulatory frameworks. Originating in the United States, it has shaped global financial models by balancing regional flexibility with national oversight.

Multi-Currency accounts vs. stablecoins represent two modern approaches to handling international payments and managing currency exposure. Both aim to simplify cross-border transactions, cut conversion costs, and offer better liquidity control, yet they work through entirely different systems.

Multi-currency liquidity management is the process of optimizing cash positions across different currencies, accounts, and jurisdictions to ensure funds are used efficiently. For global businesses, managing liquidity in multiple currencies is crucial to minimize foreign exchange risk, maintain payment readiness, and make the most of available capital.

A payment aggregator, also called a merchant aggregator, is a service provider that allows businesses to accept online payments without opening a separate merchant account with a bank. Mainly it acts as an intermediary between merchants, customers, and financial institutions, and simplifies digital payment processing.

Businesses rely on seamless and secure payment flows to keep operations running smoothly. But behind every “Payment Successful” message lies a complex network of systems that must communicate efficiently, aided by payment middleware.

A closed loop card is a type of payment card that can only be used within a specific store, brand, or group of affiliated merchants. You’ve probably used one before without realizing it: store gift cards, e-gift vouchers, or loyalty cards from your favorite retailers. 

Flexible payment tools have become indispensable for both consumers and businesses. Due to this, open loop cards have gained traction — a versatile payment solution that functions much like a debit or credit card, but without being tied to a specific retailer.

Companies today launch new card programs, payment apps, and embedded finance solutions at record speed. Ever wondered how non-banks — like fintech startups — can issue cards or process payments without being a licensed financial institution?