Financial Services

Is Just One ‘Standard’ QR Code System Enough?

The QR code is an upgraded version of the barcode, and it was developed by Denso Wave, a Japanese company, in the mid-90s. Its main advantage over barcodes is that it can store extra information. A bar code stores information in the thickness of the bars and the white spaces between them. Since there is…

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What is ACH Origination?

Automated Clearing House Origination refers to electronic transactions that can be used to disburse payments in an efficient manner, and/or collect electronic receipts through direct payments within the United States. ACH Origination must be approved by a relationship officer, and once the account is in place, business customers can opt for automated recurring transactions at…

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What is the Origin of Merchant Banking?

A merchant bank isn’t a regular bank. Ordinary banks – sometimes called retail banks – are probably what you’re more familiar with. They process your salary, hold your savings, offer mortgages, provide car loans, and issue credit cards. Merchant banks rarely deal with customers on an individual level. Instead, they issue capital to medium corporate…

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5 Financial Habits of Successful Small Business Owners

Strong financial habits are the backbone of any successful small business. Thankfully, in today’s world, we can identify these habits using concrete data, and, so far, the data has shown that small business owners who employ these best practices consistently outperform those who do not. In this article, you’ll learn about five financial habits successful…

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How Do Business Bank Loans Work?

A bank is an institution that handles mostly underwriting, international finance and business loans. They deal with both multinational corporations, due to their expertise in international trade, and small businesses, by providing financing options and payment processing services. Banks and international trade Due to the differences in value between two national currencies, the large volume…

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Merchant Banks versus Investment Banks

What is the difference between merchant banks and investment banks? To the average consumer, all banks are more-or-less the same. We use them to keep our savings and receive our salaries. Sometimes, they give is credit cards, check books, or loans. If you don’t pay your debts, the bank might repossess your stuff. There are…

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What are Closed Loop Mobile Payments?

A closed loop payment is a transaction in which a client uploads money into a spending account that is linked to a payment device. A good example would be a gift card. A closed loop payment can only occur between a spending account and a single, specific company. Closed loop mobile payments are the mobile…

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How Is Credit Card Interest Calculated?

Credit card interest rates are set even higher than home or car loan interest. This is because the use of a credit card is considered unsecured debt, which is why credit cardholders are charged so much on the interest rate. For many cardholders, their credit card is used almost every day for minor purchases like…

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