The Confidence in Online Money Transfers

The remittance industry is growing at an extremely fast rate. If you will observe your community, then you’ll definitely find a number of remittance centers that are easily accessible. The great thing about their services is that, you can send and receive money using their service or at times, deposit money to your online account that is then used for online gambling in QQ Online or any other online activities that you are into.

Perhaps, it made you ask yourself how do these businesses are able to do it? How money transfer works, how it is sent, is it secure and safe and how the online payments are performed?

A Short Trip to Memory Lane

To start with it, it is vital to have a little bit of background regarding money transfer business. As a matter of fact, this industry started way, way back the 1800s. Someone might be sitting for thousands of miles and send messages via telegram. During this period, money transfer businesses are primarily dependent on these telegrams in order to communicate about the cash that’s being sent and received.

The process is entirely simple but it is somewhat cumbersome because it needs both the receiver and sender to be present in the telegram office. Then as time advances, technology improves and so goes with the money transfer service. Now, it is as what we know today.

Innovation and Development

Sending money over the web is basically just the online version of the traditional way of wiring money. Money transfer businesses or banks are using electronic fund transfers or EFT in order to send money. Simply speaking, they don’t send the tangible form of money instead, they are sending data that is representing the amount. Sending money overseas or making an international payment become faster that it just needs minutes and you’re done. With fast internet, instantaneous exchange of data, money is being delivered smoothly wherever it has to be.

The Question about Security

While this service is extremely common nowadays, still there is the question of security and safety. After all, the internet can be hacked and sending of financial data could be cracked by hackers. But this should not be a problem for it’s been dealt with already. Money is being transferred online using secured layers of coding; this makes the entire process to be safe. Simply speaking, the data sent over the web is encrypted several times that it becomes illogical for hackers. Once it reaches its destination, it will be decoded and represents the actual amount.

Simple Explanations on How APIs Work

Most online consumers have encountered the term API and are quite interested to find out more; beyond the technical jargon of what the acronym stands for: Application Programming Interface.

First off, API is a product that is usually offered to developers of applications or resource platforms that will allow the offering of a specific product or service to consumers by way of digital technology.

Know that the term interface refers to a program that enables mobile app user to connect to a platform from which they are requesting a service. An API allows communication between the app user’s device and a specific service provider’s platform.

Simple Example of How APIs Work

The simplest example is when a user of a Facebook Messenger app wants to send a message to other FB Messenger users. The API acts as the conduit or intermediary program that will connect the requesting party to Facebook’s Messenger platform. Upon receipt of the request, the FB platform will in turn, process the request, whilst making sure that only those authorized to connect to that particular Messenger app can send back responses, which the API forwards to the requesting party. .

Why API is Important for Mobile App Developers and Resource Providers

Since APIs are products in the form of program codes offered to app developers and resource platforms, the quality of the API integrated as part of the program or software is of great importance. The API can promote active use of the mobile application, especially when users find it easy to engage in the quickest time possible and in the safest of environments.

APIs can influence customer experience and can become a deciding factor for app users to continue using the stores or the service providers to which their app is connected.

The industry benchmark in determining the quality of the API that sends out communications between app user and resource platforms is the level of user retention, or the percentage of users who return and engage through the app within three months, from the very first session.

Still, it is important to note that brands tend to set their own standards of customer engagement and retention, as metrics to follow when choosing the mobile apps and resource platforms.

Some of the major technology companies that offer APIs are Google, Amazon, Expedia, eBay and Salesforce, because their platforms are connected to the most popular commercial markets. .