Author: Vellis Team

If you’ve ever sent or received money internationally, you’ve probably come across something called an IBAN. But what is an International Bank Account Number, and why is it so important?

International Financial Reporting Standards (IFRS) are globally recognized accounting rules designed to make financial statements consistent, comparable, and transparent across borders. 

A payment gateway is the technology that enables businesses to securely process online transactions. It acts as a bridge between customers and merchants, ensuring sensitive payment details — like card numbers — are encrypted and safely transmitted.

The Automated Clearing House (ACH) is the backbone of electronic payments in the U.S., handling direct deposits, bill payments, and business transactions. This network processes billions of ACH payments each year, connecting over 10,000 financial institutions.

Whether it’s conducting important international transactions, playing a fun game on a PC, or doing online shopping, every business wants and needs to enable safe and tangible transactions. However, certain businesses and industries are characterized as high-risk, hence they are prone to fraudulent activities, chargeback, and regulatory problems.

Conducting business in this thriving financial world faces an abundance of challenges. If you are conducting business in high-risk industries such as gambling, there are bound to be even more challenges. Hence, high-risk payment processors act as individual financial service providers that handle transactions for such risk-considered businesses.

Numerous banking translations, whether online or in person, cannot be conducted without having a specific account. Many people may not be acquainted with this financial notion, but there is a clear distinction between a merchant account and a business bank account. A merchant account is a type of a bank account but rather acts as…

With the ongoing technological developments and futuristic approaches to various advancements, the rise of cyber theft and online security breaches has unfortunately become a common factor. Due to the fact that numerous businesses and stores have shifted their payment systems online and through various practical payment methods, it’s no wonder that many fraudulent activities have…

Chargebacks happen when customers dispute a credit card charge, leading the bank to reverse the transaction. While this process protects consumers from fraud or billing errors, it often leaves merchants with financial losses and additional fees. With 27% of retailers reporting an increase in chargebacks, businesses must adopt strategies to prevent chargebacks and safeguard revenue.