Category: Vellis News

This article explains how integration works, outlining key architecture options, setup steps, and compliance standards such as PCI DSS, 3DS, and SCA.

Virtual cards for businesses are digital versions of company payment cards, designed to make spending easier, safer, and more trackable. Unlike traditional plastic cards, they exist only online and can be created instantly for specific purchases or employees.

B2B credit card processing fees can quietly eat into profits, especially for companies handling large volumes or high-value transactions. These fees typically include interchange fees set by card networks, assessment fees, and additional processor markups.

Open banking allows secure data sharing between banks and authorized third parties through APIs, giving businesses real-time access to financial information. Accounting and ERP systems are core tools for managing cash flow, expenses, and business operations.

Account aggregation in open banking means bringing together financial data from multiple accounts, such as bank, savings, and credit, into one secure, unified view. It allows users to see their complete financial picture in one place, making money management simpler and more transparent.

B2B (Business-to-Business) payments involve transactions between companies, such as a retailer paying a supplier or a firm settling invoices with a service provider. C2B (Consumer-to-Business) payments occur when individuals pay companies directly. like online purchases, bill payments, or booking services.

When your business starts growing fast, you need your payment system to keep up. Imagine hundreds of customers trying to check out at once, only for the payment page to freeze or transactions to fail. That’s not just frustrating for customers; it’s a direct hit to your revenue and brand trust. This is where card…

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.