Razorpay

SEPTEMBER 17, 2023

It is a platform that connects your bank account to the platform where you need to transfer money. A payment gateway authorises you to conduct an online transaction through different payment modes like net banking, credit card, debit card, UPI, or the many online wallets that are available these days. What is a Payment Gateway?

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Bank Banking Financial Institution Accountant 52

Razorpay

NOVEMBER 30, 2023

Besides, electronic payment systems have revolutionized the way we handle our finances, making transactions quicker, more efficient, and accessible to anyone with a bank account. NEFT is typically used for smaller transactions, while RTGS is reserved for larger, time-sensitive transfers.

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Electronics IT Accountant Banking 52

Razorpay

NOVEMBER 19, 2024

NACH mandate cancellation is an important process that every account holder should understand. The system serves multiple purposes payments of subsidies, pensions, salaries, dividends, and regular consumer transactions such as bills, EMIs, and loan payments. The mandate is a formal authorisation given to banks and institutions.

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Accountant Bank Banking Electronics 40

Razorpay

APRIL 10, 2024

This code aids financial institutions in accurately handling the payment and ensures adherence to global regulations. Trade in Goods Customs authorities mandate a purpose code for categorizing transactions during the importation or exportation of goods. Where are Purpose Codes Used?

S&P 52

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Razorpay

DECEMBER 20, 2023

Debit Card Payments Debit cards allow you to make transactions by deducting funds from your bank account. Limited funds: You can only spend what’s in your bank account. Record-keeping: Transactions are recorded, aiding in budgeting. No fees: No transaction or interest charges.

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Razorpay

AUGUST 11, 2024

A payment network is a system that processes electronic payments between consumers, businesses, and financial institutions. By connecting merchants, banks, and card issuers, it enables seamless processing of credit, debit, and other electronic transactions. When a transaction is initiated, the network verifies the details.

IT 40

IT Funds Financial Institution Banking 40

Razorpay

AUGUST 6, 2024

Knowing the difference between an invoice and a bill helps business owners and financial professionals streamline their accounting processes and avoid confusion. Maintaining Records Invoices provide a detailed account of sales transactions, helping you track your income and manage financial records accurately.

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Accountant Utilities Business Sale 40

Peak Frameworks

SEPTEMBER 19, 2023

With numerous currencies and no standardized transaction method, international financial transactions were a logistical nightmare. Example: Large corporations might use SWIFTNet's FIN to initiate multi-million dollar trade settlements, ensuring that transaction details are both secure and standardized. Who Uses SWIFT?

Bank 52

Bank Banking Finance Finance 52

Razorpay

OCTOBER 31, 2023

Export vs Import Payments Export payments are the financial transactions that occur when a country or entity sells goods, services, or assets to foreign customers or buyers. Import payments refer to the financial transactions that occur when a country or entity purchases goods, services, or assets from foreign sources.

Bank 59

Bank Banking Financial Institution Business 59

Razorpay

NOVEMBER 10, 2024

The payment settlement is a process in any financial transaction where the issuing bank transfers funds from the cardholder’s account to the acquiring bank through a payment gateway. This is the final step in any financial transaction after authorisation and approval. What is Payment Settlement?

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