Credit Card Encryption
Credit Card Encryption Credit card encryption is a security process that safeguards sensitive credit card information from unauthorized access, alteration, or disclosure. This encryption occurs both during transmission and storage. Encryption Methods: 1. Transport Layer Security (TLS) Protocol:– TLS is a cryptographic protocol that ensures secure communication between web servers and clients.- It uses SSL/TLS […]
Housing Bubble
Definition: A housing bubble is a rapid and unsustainable increase in housing prices. It occurs when demand for housing exceeds supply, leading to a situation where prices rise at an alarming rate. Causes: Low interest rates: Low interest rates make it easier for people to afford mortgages, increasing demand. Easy credit: Relaxed credit standards make […]
Invoice Financing
Invoice Financing Invoice financing is a type of asset-based lending that allows a company to obtain immediate access to funds by selling its invoices to a third party. How Invoice Financing Works: Company Invoices: The company invoices its customers for goods or services. Factor Purchases: The company sells its invoices to a factoring company at […]
Customer Service
Definition: Customer service is the process of providing support and assistance to customers in their interactions with a company. It encompasses a wide range of activities, including: Response to inquiries and complaints: Addressing customer concerns and resolving issues in a timely and satisfactory manner. Account management: Maintaining customer accounts, providing account updates, and managing customer […]
Adware
Definition: Adware, short for advertising-supported software, is a type of malware that inserts unwanted ads or pop-ups into a user’s computer system without their consent. It often includes tracking mechanisms to collect user data, such as browsing history and preferences. Types of Adware: Push Ads: Pop-up ads that appear on a user’s screen without their […]
Capital Loss Carryover
Capital Loss Carryover A capital loss carryover allows investors to carry over any unused capital losses from one tax year to the next, up to a certain limit. This means that investors can defer paying taxes on capital losses until they have offset them against capital gains or other taxable income. Eligibility: To be eligible […]
Raw Materials
Definition: Raw materials are natural substances that are used as inputs in the production of finished goods and products. They are usually extracted from the earth or obtained from living organisms. Types of Raw Materials: Metallic ores: Minerals that contain valuable metals, such as copper, gold, iron, and aluminum. Non-metallic minerals: Minerals that do not […]
Vertical Merger
Vertical Merger A vertical merger occurs when two companies in different industries merge, with one company controlling the majority of the other company’s assets or operations. Examples of Vertical Mergers: A car manufacturer merging with a tire manufacturer. A software company merging with a hardware company. A food company merging with a packaging company. Reasons […]
Merchant Category Codes (Mcc)
Merchant Category Codes (MCC) Merchant Category Codes (MCC) are three-digit numerical codes used by credit card processors to categorize businesses into specific industry categories. They are used to facilitate transaction routing, fraud detection, and reporting. Categories: MCCs are divided into 13 categories, including: Retail: Grocery stores, department stores, clothing stores, etc. Services: Restaurants, hotels, transportation, […]
Consignment
Consignment is a type of sale where a seller consigns items to a third party, known as a consigner. The consigner then sells the items on behalf of the seller, but only for a commission. Here are the key points about consignment: Seller does not own the items: The seller does not own the items […]
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