Author: Vellis Team

A credit score shows how responsibly you borrow and repay money. Lenders and landlords use it to gauge trustworthiness. Opening a regular checking or savings account doesn’t affect your score, but accounts with overdraft protection or credit checks might cause a small inquiry.

Before we dwell upon the detailed understanding of the differences, it is important to note that open banking and PSD2 are closely connected but not the same. Open banking is the practice of sharing financial data securely through APIs, allowing third-party providers to create new services.

Fraud detection in open banking is the process of identifying and preventing suspicious activities within digital, API-driven financial systems. As banks share data with third-party providers, protecting transactions and customer information becomes critical.

Ever wondered what happens after you swipe, tap, or key in your credit card details? Behind that seemingly instant transaction lies a sophisticated digital journey involving multiple players, data exchanges, and security checks — all happening in seconds. 

Imagine scrolling through your favorite social media app, spotting a cool pair of sneakers, and buying them instantly without having to leave the app. Or asking your smart speaker to order groceries while you cook dinner. That’s contextual commerce in action — a new era of shopping where payments blend seamlessly into everyday life.

If you’ve ever had a payment reversed after a purchase, you’ve probably experienced a chargeback. For consumers, it’s a form of protection. For businesses, it can be both a safeguard and a costly headache. Understanding how chargebacks work is essential for anyone managing payments online. This article breaks down what is a chargeback, why they…

Money is evolving again. From coins and paper bills to online banking and mobile wallets, each transformation has changed how we trade, save, and interact economically. Today, one of the most significant shifts is on the horizon: central bank digital currency (CBDC).

Businesses now handle transactions across borders, currencies, and multiple payment providers. Managing all these systems efficiently can be a nightmare, especially without payment orchestration.

Banking is changing faster than ever. For decades, financial institutions operated on a traditional model: centralized, branch-based, and largely closed to outsiders. Today, however, the rise of open banking vs traditional banking is reshaping how people and businesses interact with money.

If you’re running a business, transaction fees are one of those hidden costs that can eat into your profits more than you realize. Every time a customer pays by card, a slice of that transaction goes to card networks, banks, and processors. For small and medium-sized enterprises, these costs add up quickly and can even…