Glossary

Machine learning

Machine learning utilises Artificial Intelligence (AI) to provide systems with the ability to automatically learn...

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Magnetic Ink Character Recognition

Magnetic Ink Character Recognition is a string of characters that appear at the bottom left...

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Margin trading

It is a method of trading that involves using borrowed funds. Compared to ordinary trading,...

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Market cap

Market capitalization. The price of an asset multiplied by circulating supply represents the total value...

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Market Correction

A market correction is defined as a temporary price decline that occurs after a period...

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Market maker

A player that ensures there is sufficient liquidity in the market by providing both the...

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Market risk

Risk associated with fluctuations in financial markets.

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Marketplace

It is a platform that allows various entities to sell their products or services to...

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Mass payment

Mass payment is the method of paying multiple recipients simultaneously through an online transaction. In...

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Merchant

A retailer, or any other person, firm, or corporation that agrees to accept credit cards,...

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Merchant Account

Bank account employed by a company to accept credit or debit card payments.

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Merchant Account Provider

A bank or financial institution that offers an account to a merchant for collecting proceeds...

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Merchant aggregator

A merchant aggregator, sometimes called a payment aggregator or simply known as an aggregator, is...

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Merchant Category Code

Credit Card Providers assign a merchant category to a business prior to issuing the card....

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Merchant Discount Rate

Merchant Discount Rate is a fee charged to merchants for processing debit and credit card...

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Merchant Identification Number

Merchant Identification Number is a unique identification number assigned to a business. It informs the...

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Metaverse

Online virtual worlds that stand alone or are interconnected. These virtual worlds provide users with...

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Microfinance

Financial service that offers low-cost loans and other financial services to small businesses and low-income...

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Micropayments

Micropayments are financial transactions that typically involve a very small amount of money. They usually...

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Mid sized full service banks

Mid-sized full-service banks are generally defined as having fewer than 10 million customers, with a...

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Minimum Viable Product

The Minimum Viable Product (MVP) is an early stage when developing a product that sees...

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Mining

Mining is the process of contributing computing resources to a blockchain network in order to...

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Mining pool

A mining pool is a group or community of miners that have pooled their computing...

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Mobile app

A downloadable application on mobile devices such as smartphones and tablets. AI - Acronym for...

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Mobile banking

Online banking service that allows customers to perform banking transactions through mobile devices.

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Money market

Short-term financial market in which highly liquid and low-risk financial assets are traded.

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Multi factor Authentication

Multi-factor Authentication, also known as MFA, is a type of security system that requires a...

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Multi sided business model

A multi-sided business model, sometimes referred to as a two-sided market, is one in which...

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Mutual fund

Mutual fund that collects money from many investors to invest it in a diversified portfolio...

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