Industry WIKI

An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network.

The International Bank Account Number (IBAN) is an internationally agreed upon system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. An IBAN uniquely identifies the account of a customer at a financial institution. It was originally adopted by the European Commit

International financial management, also known as international finance, is the management of finance in an international business environment; that is, trading and making money through the exchange of foreign currency. The international financial activities help the organizations to connect with international dealings with overseas business partners- customers, suppliers, lenders etc. I

The International Financial Services Centre (IFSC; Irish: Lárionad Seirbhísí Airgeadais Idirnáisiúnta) is an area of central Dublin and part of the CBD established in the 1980s as an urban regeneration area and special economic zone (SEZ) on the derelict state-owned former port authority lands of the reclaimed North Wall and George's Dock areas of the Dublin Docklands. The term has beco

An International Securities Identification Number (ISIN) is a code that uniquely identifies a security globally for the purposes of facilitating clearing, reporting and settlement of trades. Its structure is defined in ISO 6166. The ISIN code is a 12-character alphanumeric code that serves for uniform identification of a security through normalization of the assigned National Number, whe

An introductory rate (also known as a teaser rate) is an interest rate charged to a customer during the initial stages of a loan. The rate, which can be as low as 0%, is not permanent and after it expires a higher rate will apply.

IOTA is an open-source distributed ledger and cryptocurrency designed for the Internet of things (IoT). It uses a directed acyclic graph to store transactions on its ledger, motivated by a potentially higher scalability over blockchain based distributed ledgers. IOTA does not use miners to validate transactions, instead, nodes that issue a new transaction on the network must approve two

The ISDA Master Agreement, published by the International Swaps and Derivatives Association (ISDA), is the most commonly used master service agreement for over-the-counter (OTC) derivatives transactions internationally. It is part of a framework of documents, designed to enable OTC derivatives to be documented fully and flexibly. The framework consists of a master agreement, a schedule,

ISO 10962, known as Classification of Financial Instruments (CFI), is a six-letter-code used in the financial services industry to classify and describe the structure and function of a financial instrument (in the form of security or contract) as part of the instrument reference data. It is an international standard approved by the International Organization for Standardization (ISO). CF

ISO 15022 is an ISO standard for securities messaging used in transactions between financial institutions. Participants in the financial industry need a common representation of the financial transactions they perform and this standard defines general message schema, which in turn are used by organizations to define messages in a complete and unambiguous way. This results in efficiency,

ISO 20022 is an ISO standard for electronic data interchange between financial institutions. It describes a metadata repository containing descriptions of messages and business processes, and a maintenance process for the repository content. The standard covers financial information transferred between financial institutions that includes payment transactions, securities trading and sett

ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies, and provides information about the relationships between currencies and their minor units. This data is published in three tables:

ISO 8583 is an international standard for financial transaction card originated interchange messaging. It is the International Organization for Standardization standard for systems that exchange electronic transactions initiated by cardholders using payment cards.

ISO 9362 is an international standard for Business Identifier Codes (BIC), a unique identifier for business institutions, approved by the International Organization for Standardization (ISO). BIC is also known as SWIFT-BIC, SWIFT ID, or SWIFT code, after the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is designated by ISO as the BIC registration authority.

ISO 9564 is an international standard for personal identification number (PIN) management and security in financial services.

Israel Credit Cards Ltd. (Hebrew: כרטיסי אשראי לישראל בע"מ), also known by the Cal (Hebrew: כאל) brand and its historical name "C.A.L" (Hebrew: כ.א.ל or by the nickname "Visa Cal" (Hebrew: ויזה כאל, is a company operating in the Israeli credit card market in two areas of activity: issuing debit cards, especially credit cards, and clearing credit card transactions. The company was founded

Italian Sounding is the marketing phenomenon consisting of words and images, colour combinations (the Italian tricolour), and geographical references for brands that are evocative of Italy to promote and market agri-food products that have nothing to do with Italian cuisine. The phenomenon is described by the Office of the Ministry of Economic Development (MISE) called Directorate Genera

Jaywan (Arabic: جيون, lit. 'precious pearl') is an Emirati card payment system wholly owned and operated by Al Etihad Payments (AEP), a subsidiary of the Central Bank of the United Arab Emirates.

The Jordanian dinar (Arabic: دينار أردني; code: JOD; symbol: د.أ, unofficially abbreviated as JD) has been the currency of Jordan since 1950. The Central Bank of Jordan commenced operations in 1965 and became the sole issuer of Jordanian currency and central bank, in place of the Jordan Currency Board.

The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy, it was advanced by St. Thomas Aquinas based on an argument against usury, which in his time referred to the making of any rate of interest on loans. It gave rise to the contractual principle of laesio enormis.

Kabutochō (Japanese: 兜町), or more formally Nihonbashi Kabutochō (Japanese: 日本橋兜町), is a neighborhood of Nihonbashi, Chuo-ku, Tokyo, Japan. It is the location of the Tokyo Stock Exchange and many securities companies, so is considered Japan's equivalent of Wall Street in New York City.

The Kapitalanlagegesetzbuch, abbreviated as KAGB, is the German Investment Code for investment management.

LankaQR, stylised in all caps as LANKAQR, is a national QR code payment system in Sri Lanka, initiated by the Central Bank of Sri Lanka (CBSL) in collaboration with LankaClear (Pvt) Ltd and licensed financial institutions. The standard was introduced on 12 October 2018 and formally launched on 11 March 2019, aiming to promote a cashless society, enhance financial inclusion, and reduce re

The Legal Entity Identifier (LEI) is a unique global identifier for legal entities participating in financial transactions. Also known as an LEI code or LEI number, its purpose is to help identify legal entities on a globally accessible database. Legal entities are organizations such as companies or government entities that participate in financial transactions. An individual person may

LevelUp was an American white-label platform for restaurants offering mobile ordering, QR-code payments and loyalty/CRM tools. It was created by Boston-based startup SCVNGR. Grubhub announced its acquisition of LevelUp for US$390 million in July 2018 and closed the deal on September 13, 2018. Post-acquisition, LevelUp’s technology was integrated into Grubhub’s restaurant-facing products,

Liberty Reserve was a Costa Rica-based centralized digital currency service that billed itself as the "oldest, safest and most popular payment processor, serving millions all around a world". Liberty Reserve was conceived as a "PayPal for the unbanked," allowing the 2.5 billion people without bank accounts or credit histories to participate in the modern economy. The site had over one mi

The Lightning Network (LN) is a payment protocol built on the bitcoin blockchain. It is intended to enable fast transactions among participating nodes (independently run members of the network) and has been proposed as a solution to the bitcoin scalability problem.

Liquidation or winding-up is the process in law by which a company is brought to an end and its assets and property distributed to claimants. When a company has been liquidated, it is sometimes said to be wound-up or dissolved, although dissolution technically refers only to the final stage of liquidation.

This is a list of abbreviations used in a business or financial context.

Litecoin (abbreviation: LTC) is a cryptocurrency and open-source software project created by Charlie Lee and released in 2011. Its software was derived from Bitcoin's codebase. Litecoin uses a scrypt-based proof-of-work system, targets a block interval of 2.5 minutes, and has a maximum supply of 84 million litecoins.

In investing and finance, the low-volatility anomaly is the observation that low-volatility securities have higher returns than high-volatility securities in most markets studied. In other words, assets whose prices or returns change wildly pay worse than assets whose prices or returns are steady. This is an example of a stock market anomaly since it contradicts the central prediction of

Luke Dashjr is an American software developer known for his long-standing role in the development of Bitcoin Core and for co-founding the Bitcoin mining pool Ocean.

M-PESA (M for mobile, PESA is Swahili for money) is a mobile phone-based money transfer service, payments and micro-financing service, launched in 2007 by Vodafone and Safaricom, the largest mobile network operator in Kenya. It has since expanded to Tanzania, Mozambique, Democratic Republic of the Congo (DRC), Lesotho, Ghana, Egypt, and Ethiopia. The rollouts in India, Romania, and Alban

Madhya Pradesh Stock Exchange (MPSE) was a stock exchange located at Indore, Madhya Pradesh, India. It was a SEBI recognized Permanent Stock Exchange, until its de-recognition in 2015. Established in 1919, it was 3rd oldest stock exchange in India, and a leading stock exchange under outcry system.

Magnetic ink character recognition code, known in short as MICR code, is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents. MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, che

Mark-to-market (MTM or M2M) or fair value accounting is accounting for the "fair value" of an asset or liability based on the current market price, or the price for similar assets and liabilities, or based on another objectively assessed "fair" value. Fair value accounting has been a part of Generally Accepted Accounting Principles (GAAP) in the United States since the early 1990s. Fail

A market anomaly in a financial market is predictability that seems to be inconsistent with (typically risk-based) theories of asset prices. Standard theories include the capital asset pricing model and the Fama-French Three Factor Model, but a lack of agreement among academics about the proper theory leads many to refer to anomalies without a reference to a benchmark theory (Daniel and

The Market Identifier Code (MIC) (ISO 10383) is a unique identification code used to identify securities trading exchanges, regulated and non-regulated trading markets. The MIC is a four alphanumeric character code, and is defined in ISO 10383 by the International Organization for Standardization (ISO). For example, the US NASDAQ market is identified by MIC XNAS.

Market sentiment, also known as investor attention, is the general prevailing attitude of investors as to anticipated price development in a market. This attitude is the accumulation of a variety of fundamental and technical factors, including price history, economic reports, seasonal factors, and national and world events. If investors expect upward price movement in the stock market, t

In the Catholic Church, a Mass stipend is a donation given by the laity to a priest for celebrating a Mass for a particular intention. Despite the name, it is considered as a gift or offering (Latin: stips) freely given rather than a payment (Latin: stipendium) as such.

Master data management (MDM) is a discipline in which business and information technology collaborate to ensure the uniformity, accuracy, stewardship, semantic consistency, and accountability of the enterprise's official shared master data assets.

In economics, a medium of exchange is any item that is widely accepted in exchange for goods and services. In modern economies, the most commonly used medium of exchange is currency. Most forms of money function as media of exchange, including commodity money, representative money, cryptocurrency, and most commonly fiat money. Representative and fiat money exist in digital form as well a

Metallism is the economic principle that the value of money derives from the purchasing power of the commodity upon which it is based. The currency in a metallist monetary system may be made from the commodity itself (commodity money) or it may use tokens (such as national banknotes) redeemable in that commodity. Georg Friedrich Knapp (1842–1926) coined the term "metallism" to describe

MF Global Holdings Ltd., formerly known as Man Financial, was a major global financial derivatives broker, or commodities brokerage firm that went bankrupt in 2011. MF Global provided exchange-traded derivatives, such as futures and options as well as over-the-counter products such as contracts for difference (CFDs), foreign exchange and spread betting. MF Global Inc., its broker-deal

Microcap stock fraud is a form of securities fraud involving stocks of "microcap" companies, generally defined in the United States as those with a market capitalization of under $250 million. Its prevalence has been estimated to run into the billions of dollars a year. Many microcap stocks are penny stocks, which the SEC defines as a security that trades at less than $5 per share, is no

Microcredit is the extension of very small loans (microloans) to borrowers with limited access to traditional credit who typically do not have access to traditional banking services due to a lack of collateral, steady employment, and a verifiable credit history. The primary aim of microcredit is to support entrepreneurship, facilitate self-employment, and alleviate poverty, particularly

A micropayment is a financial transaction involving a very small sum of money and usually one that occurs online. Several micropayment systems were proposed and developed in the mid-to-late 1990s that were ultimately unsuccessful. A second generation of micropayment systems emerged in the 2010s.

In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work. Mining in pools began when the diffi

The Ministry of Economic Affairs and Finance' is a ministry of the Iranian government that oversees treasury, commerce, industry, financial markets and labor in Iran. Its functions include:

The Icelandic Ministry of Finance (Icelandic: Fjármálaráðuneytið) is responsible for overseeing the finances of the Icelandic government. The Minister for Finance and Economic Affairs is Daði Már Kristófersson.

The Ministry of Finance or Ministry of Treasury (Spanish: Ministerio de Hacienda, MH) is the department of the Government of Spain responsible for the design and implementation of the government policy on public finance and budget. It applies and manages the regional and local financing systems and the provision of information on the economic-financial activity of the different Public Ad

Mitigation banking is a market-based system of debits and credits (used primarily in the United States as part of its "no net loss" policy) that involves restoration, creation, or enhancement of wetlands to compensate for unavoidable impacts to a wetland in another location. It involves a system of mitigation banks, sites where projects to restore, create, or enhance wetlands can be carr

Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cash, cheque, or credit card, a consumer can use a payment app on a mobile device to pay for a wide range of services and digital or hard goods. Altho

China is one of the world's leaders in the adoption of mobile payments. Widespread adoption of mobile payments in China has facilitated the growth of e-commerce in China and growth in the retail banking sector.

Mondex was a smart card electronic cash system, implemented as a stored-value card and owned by Mastercard.

Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation. It gained prominence in the 1970s, but was mostly abandoned as a direct guidance to monetary policy during the following decade because of the rise of inflation targeting through movements of the official interest rate.

Monetary circuit theory is a heterodox theory of monetary economics, particularly money creation, often associated with the post-Keynesian school.

Monetary economics is the branch of economics that studies the nature, role, and impact of money and monetary institutions. It provides a framework for analyzing money and its core functions—as a medium of exchange, a store of value, and a unit of account—and examines how money can achieve widespread acceptance, including through its role as a public good.

Monetary reform refers to proposals to change a country's monetary system, including how money is created, regulated, and distributed. Such reforms seek to address perceived problems with current monetary schemes, like financial instability, wealth inequality, or inflation. Monetary reform movements grow during economic crises, proposing alternatives to prevailing systems.

A money order is a directive to pay a pre-specified amount of money from prepaid funds, making it a more trusted method of payment than a cheque.

The house of Murashu were a family of businessmen and moneylenders based at Nippur in Babylonia in the fifth century BCE. They left an archive of hundreds of cuneiform texts called the Murashu Archive which is often used to understand business and society in the Achaemenid Empire.

MYOB (meaning mind your own business) is an Australian multinational corporation that provides tax, accounting and other business services software to small and medium businesses. It is owned by KKR.

The Namibian dollar (symbol: $ or N$; code: NAD) has been the currency of Namibia since 1993. It is normally abbreviated with the dollar sign ($), or alternatively N$ to distinguish it from other currencies called “dollar.” It is divided into 100 cents.

Nano (Abbreviation: XNO) is a cryptocurrency characterized by a directed acyclic graph data structure and distributed ledger, making it possible for Nano to work without intermediaries. To agree on what transactions to commit (i.e., achieving consensus), it uses a voting system with weight based on the amount of currency an account holds.

Narsimham Committee refers to two committees established by the Government of India in its first decade of economic liberalisation under the chairmanship of M. Narasimham. The first Committee, officially known as the Committee on Financial System (CFS), was established in August 1991. The report of the CSF was submitted to the Finance Minister in November 1991, and tabled in the Parliame

National Automated Clearing House, introduced by National Payments Corporation of India, is a centralised clearing service that aims at providing interbank high volume, low value transactions that are repetitive and periodic in nature. Offering credit and debit service to corporates, banks, and financial institutions, the service, aimed at integrating all regional ECS into one National

NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It produces self-service kiosks, point-of-sale software and terminals, check processing systems, thermal printers, and barcode scanners.

The Nepalese rupee (Nepali: नेपाली रुपैयाँ; sign: रु; code: NPR) is the official currency and legal tender of Nepal. It is also sometimes informally abbreviated as N₨ or Re./Rs. Each rupee is subdivided into 100 paisa, although coins of lower denominations are rarely used today. It is issued and regulated by the Nepal Rastra Bank, the central bank of Nepal.

Neptune's Brood is a science fiction novel by British author Charles Stross, set in the same universe as Saturn's Children, but thousands of years later and with all new characters.

New Zealand bank account numbers in NZD follow a standardised format of 16 digits:

A non-fungible token (NFT) is a unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity. They typically contain references to digital files such as artworks, photos, videos, and audio. Because NFTs are uniquely identifiable, they differ from cryptocurrencies (which are fungible, hence the name non-fungible token), and as a result they

Numismatics is the study or collection of currency, including coins, tokens, paper money, medals, and related objects.

Nutraceutical is a marketing term used to imply a pharmaceutical effect from plant extracts, compounds, or food products that are claimed to influence health outcomes, typically as dietary supplements.

The Omani rial (Arabic: ريال, symbol: ; currency code: OMR) is the currency of Oman. It is divided into 1000 baisa (also written baiza, بيسة).

Online video analytics (also known as Web video analytics) is the measurement, analysis and reporting of videos viewed online. It is used for the purposes of understanding the consumption patterns (behavioral analysis) and optimizing viewing experience (quality of service analysis).

OpenTimestamps (OTS) is an open-source project that aims to provide a standard format for blockchain timestamping.

In finance, options backdating is the practice of altering the date a stock option was granted, to a usually earlier date (i.e backdating), but sometimes later date (i.e. forward dating), at which the underlying stock price was lower. This is a way of repricing options to make them more valuable when the option "strike price" (the fixed price at which the owner of the option can purchase

Ouroboros is a family of proof-of-stake consensus protocols used in the Cardano and Polkadot blockchains. It can run both permissionless and permissioned blockchains.

An out-of-pocket expense, or out-of-pocket cost (OOP), is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip. Car insurance, oil changes, and interest are not, since the outlay of cash covers expenses accrued over a longer pe

Pari passu is a Latin phrase that literally means "with an equal step" or "on equal footing". It is sometimes translated as "ranking equally", "hand-in-hand", "with equal force", or "moving together", and by extension, "fairly", "without partiality".

Payanywhere is a payments platform and app that allows merchants in the United States to accept credit and debit card payments while building customer relationships in-store, online, or on the go. Merchants may accept payments on their smartphone via a Bluetooth card reader or on an in-store “Storefront” solution featuring a tablet and stand, which was introduced on April 8, 2014. PayAny

Paym ( PAY-əm) was a mobile payment system provided by banks and building societies in the United Kingdom. Recipients were identified by their mobile phone number instead of bank details such as sort code and account number.

Payment and settlement systems are used for financial transactions in India. Covered by the Payment and Settlement Systems Act of 2007 (PSS Act), legislated in December 2007, they are regulated by the Reserve Bank of India (RBI) and the Board for Regulation and Supervision of Payment and Settlement Systems.

Payment cards are part of a payment system issued by financial institutions, such as banks, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs). Such cards are known by a variety of names

A payment card number, primary account number (PAN), or simply a card number, is the card identifier found on payment cards, such as credit cards and debit cards, as well as stored-value cards, gift cards and other similar cards. In some situations the card number is referred to as a bank card number. The card number is primarily a card identifier and may not directly identify the bank

A payment terminal, also known as a point of sale (POS) terminal, card machine, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN,

PayTM (short for Pay Through Mobile) is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida. PayTM was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Soundbox, Android-

Paytm Payments Bank (PPBL) was an Indian payments bank, founded in 2017 and headquartered in Noida. In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. In 2021, the bank received a scheduled bank status from the RBI.

In American economics, penny stocks are common shares of small public companies that trade for less than $5 per share.

A personal identification number (PIN; sometimes redundantly a PIN code or PIN number) is a numeric (sometimes alpha-numeric) passcode used in the process of authenticating a user accessing a system.

The Personal Property Security Act ("PPSA") is the name given to each of the statutes passed by all common law provinces, as well as the territories, of Canada that regulate the creation and registration of security interests in all personal property within their respective jurisdictions.

PhonePe is an Indian digital payments and financial services company, headquartered in Bengaluru. It was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface, went live in August 2016.

The Pineapple Fund was a philanthropic project by an anonymous individual which gave away 5,057 bitcoins to 60 charities. The amount was valued at $86 million in December 2017. Some of the themes supported were medical research, environmental conservation, human rights and psychedelic therapy.

Plastic cards usually serve as identity documents, thus providing authentication. In combination with other assets that complement the data stored on the card, like PINs, they also serve authorization purposes, most often as debit or credit cards for allowing their holders to make financial transactions. Early and simpler cards feature only hard-to-imitate integrated photographs, securit

The point of sale (POS), or point of purchase (POP), is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at wh

Point-of-sale malware (POS malware) is usually a type of malicious software (malware) that is used by cybercriminals to target point of sale (POS) and payment terminals with the intent to obtain credit card and debit card information, a card's track 1 or track 2 data and even the CVV code, by various man-in-the-middle attacks, that is the interception of the processing at the retail chec

Polkadot is a decentralized, nominated proof-of-stake blockchain with smart contract functionality. The cryptocurrency native to the blockchain is the DOT.

Prediction markets, also known as betting markets, information markets, decision markets, idea futures, or event derivatives, are open markets that enable the prediction of specific outcomes using financial incentives. They are exchange-traded markets established for trading bets in the outcome of various events.

In finance and mathematics, predictive modelling is the use of statistics to predict outcomes. Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred. For example, predictive models are often used to detect crimes and identify suspects, after the crime has taken place.

This is a list of prices of chemical elements. Listed here are mainly average market prices for bulk trade of commodities. Data on elements' abundance in Earth's crust is added for comparison.