MRR (Monthly Recurring Revenue) is the main indicator for SaaS (Software as a Service) and subscription-based businesses. It reflects the amount of income that the business receives every month from customers who pay for their subscriptions. It can be calculated as: MRR = Total Number of Subscriptions × Average MRR...
What is a POS System?
A point of sale (POS) system is a computerized software program that tracks financial data and processes transactions in a restaurant, retail store, or other business venue. It often includes a touch-screen monitor with an integrated barcode scanner for processing items at the checkout counter. The POS also records each...
What is an American Express Virtual Card and How to Get it?
An American Express Virtual Card is a digital prepaid card that you can use to make online purchases. It’s a great alternative to using your personal credit or debit card when you don’t want to share your personal information. You can also use it to keep your spending organized since...
What is Apple Pay and How Does it Work?
Apple Pay is a mobile payment system developed by Apple Inc. It allows users to make payments using their iPhone, iPad or Apple Watch. The system uses near-field communication (NFC) technology to transmit payment information between devices. To use Apple Pay, you first need to add your credit or debit...
Everything You Need to Know about the Old Navy Credit Card
With all the credit cards out there, it can be hard to find one that provides both useful benefits and a reasonable APR. That's why we're giving you everything you need to know about one of our favorite card offers from Old Navy: the Old Navy Visa Credit Card ....
How Credit Card Processing Works?
Credit card processing is the most popular way in which customers pay for services and products offered by businesses. If you are a business owner, it is important to know how credit card processing works so that you can maximize your profits while at the same time maintaining an efficient...
What is PCI Compliance?
PCI Compliance is a combination of processes, procedures and rules which are designed for the protection of cardholder data. This includes information such as credit/debit card numbers plus other personally identifiable information (PII). The Payment Card Industry Security Standards Council have defined the PCI Compliance standards along with what is...
What is an NFT and How does it Work?
NFTs are unique in that they are not subject to the same rules as other digital assets. For example, Bitcoin is limited to a total of 21 million coins, but NFTs do not have a limit on the number that can be created. This makes them ideal for representing rare...
What is Credit Card Transaction Processing and how does it Work?
Credit card transaction processing is the process of submitting credit card transactions to a Credit Card Processor for payment. Credit Card Transaction Processing is the lifeblood of many companies providing their service or selling their goods through Credit Cards. Credit cards are used in over 80% of all US transactions...
How Payment Gateways Work?
A payment gateway is a service that authorizes credit/debit card or electronic check payments for e-businesses, online merchants and traditional brick and mortar businesses. The gateway verifies the information given by the customer and then passes this information along to the appropriate credit card processing company (the "acquiring bank" in...