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. What is a Payment Network? Frequently Asked Questions (FAQs) 1.

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Razorpay

DECEMBER 20, 2023

To accept credit card payments, businesses need to establish a partnership with a payment processor, which facilitates the transaction. They must then set up a merchant account, essentially a business bank account that allows for electronic payments. Advantages Disadvantages Speed: Transactions are processed quickly.

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Razorpay

OCTOBER 27, 2023

Payment security refers to the processes and practices used to safeguard financial transactions, funds and personal information of clients from threats like online and offline payment fraud, unauthorized access, and data breaches. What is Payment Security? Running regular system and software scans to provide maximum data protection.

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Razorpay

NOVEMBER 19, 2024

NPCI Guidelines For Mandate Cancellation NPCI has established guidelines for organizations that process electronic NACH mandates. The cancellation process must be clearly visible and easily accessible to customers through electronic channels. Specify the amount associated with the mandate. Sign as per your bank account records.

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Razorpay

SEPTEMBER 22, 2024

Automated Invoice Processing Automated invoice processing streamlines the entire workflow through the use of advanced technologies: STEP 1: Receiving the invoice Receiving invoices from vendors or suppliers through various channels like Physical mail, Email, Electronic data interchange (EDI) and Portal or online platform.

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Razorpay

SEPTEMBER 17, 2023

Best Suited For E-commerce store and card-not-present (CNP) transactions POS and In-person transactions Does it Facilitate Payment No, it communicates the status of transactions. They use security measures and algorithms to protect businesses from financial losses due to chargebacks and fraudulent transactions.

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Razorpay

SEPTEMBER 22, 2023

Leveraging Existing Payment Systems UPI relies on the existing National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS) systems for settlements. Both UPI and IMPS play pivotal roles in facilitating seamless financial transactions. But they differ in several key aspects.

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Wall Street Mojo

JANUARY 15, 2024

Article Link to be Hyperlinked For eg: Source: Accounting Information System (AIS) (wallstreetmojo.com) In simple words, it is a system to collect and store all information related to financial transactions and events so that they can be retrieved for decision making by the internal management, accounts, CFOs, auditors, etc.

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Razorpay

JULY 11, 2023

Electronic Fund Transfers: Current accounts support electronic fund transfers, allowing account holders to send and receive money electronically. Convenient and Easy Access to Funds: Current accounts provide quick and convenient access to funds through various channels such as checks, debit cards, and electronic transfers.

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Razorpay

MARCH 27, 2024

Record keeping : A checking account allows businesses to keep track of their financial transactions, which is essential for accounting and tax purposes. Access to credit : Having a checking account with a good standing can help businesses qualify for loans and other forms of credit from financial institutions.

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Razorpay

AUGUST 20, 2024

With a projected 80% of invoices processed electronically by the end of 2024, automation is undeniably reshaping modern business operations. Automation speeds up the process, reduces errors, and enables electronic invoicing and real-time tracking. Frequently Asked Questions 1. Manual invoice processing is slow and prone to errors.

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Razorpay

NOVEMBER 29, 2023

Payment security refers to the processes, techniques and protocols used to safeguard online and offline financial transactions of businesses and protect sensitive payment and personal information of clients from threats like payment fraud, unauthorised access, and breach of privacy. What is Payment Security?

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Wall Street Mojo

JANUARY 16, 2024

It aims to nullify the difference in the same or next accounting period Accounting Period Accounting Period refers to the period in which all financial transactions are recorded and financial statements are prepared. read more to have parity in the books of accounts of both legal entities. read more by customers.

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Razorpay

OCTOBER 6, 2024

When dealing with financial transactions, especially in business, it’s essential to understand the distinction between various types of invoices. Example 2: Importing Electronics Proforma Invoice : An electronics retailer in India plans to import a batch of smartphones from a supplier in China.

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Focus Investment Banking

JANUARY 18, 2024

The role of a senior advisor at FOCUS Investing Banking is to provide strategic advice and guidance to clients on various financial transactions. Then high-end electronics. Senior advisors play a key role in client relationship management, strategic advisory, market research, networking, team collaboration and risk management.

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The TRADE

APRIL 30, 2024

Financial institutions are obliged to verify the identity of their customers, assess their risk profile, and monitor transactions for unusual activities. This has led to the establishment of Know Your Customer (KYC) and Customer Due Diligence (CDD) processes, bolstering transparency and accountability in financial transactions.

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Razorpay

SEPTEMBER 20, 2024

POS System vs Cash Register: Key Differences A cash register is a simple mechanical device that can only process transactions and print receipts, whereas a point of sale (POS) system is a computerized system with advanced features like financial transactions, inventory management, customer order management, reporting, and analytics.

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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? Card Networks (e.g.,

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