Category: Vellis News

In simple terms, a digital wallet is an online tool that securely stores your payment info for use in apps, websites, or even in-store purchases. A mobile wallet is a type of digital wallet that works through your smartphone or smartwatch, letting you tap to pay or send money on the go.

Near Field Communication, or NFC, is a type of wireless technology that lets two devices talk to each other when they’re very close, usually just a few centimeters apart. What’s more, you’ve probably used it without even realizing it by tapping your phone to pay at a store, using a contactless card on the bus,…

Biometric authentication can easily be explained as  a way to verify someone’s identity using physical or behavioral traits that are unique to them like a fingerprint, facial features, or even how they walk or type.

Open banking is a financial model where banks securely share customer data with approved third-party providers through APIs (application programming interfaces). This setup gives consumers more control over their financial information, while encouraging greater transparency and innovation across the industry.

Security is of the essence. 3D Secure 2.0 is a modern authentication protocol designed to enhance the safety and convenience of online payments. It builds on the original 3D Secure system by improving security while also reducing the friction that used to frustrate customers during checkout.

When it comes to protecting sensitive data, especially in industries like finance and healthcare, two key techniques often come into play: tokenization and encryption. Both serve the same core purpose, keeping information secure, but they work in very different ways.

Put in plain words, payment infrastructure refers to the behind-the-scenes systems, tools, and networks that make it possible to send and receive money, whether online, in-store, or across borders. It includes everything from card processing and bank transfers to digital wallets and real-time payment rails.

We use digital payments every day: swiping a card, sending money through an app, or paying a bill online. But have you ever wondered what makes these transactions work so seamlessly behind the scenes? The answer lies in payment schemes. Payment schemes are the backbone of modern finance. They’re the invisible structures that allow banks,…

International financial institutions across borders rely heavily on interbank relationships to move money securely and efficiently. Two key terms that often come up in this cross-border context are Nostro and Vostro accounts, both of which play a foundational role in global finance.

Cross-border payments is now the backbone of international commerce, freelance platforms, SaaS businesses, and global supply chains. The need for fast, cost-efficient, and secure money movement have become vital.