Gosia Furmanik’s Post

Payment Card Processing 🆚 A2A Payment Processing + a Market Map (is any company missing?). Let’s dive in: Payment Card Processing involves a complex network including cardholders, banks, merchants, and processors, working through authorization, settlement, and funding stages. Technological advancements are pushing this system towards an automated, service-oriented model, enhancing efficiency and customer experience. A2A Payment Processing simplifies transactions by directly transferring funds between bank accounts, bypassing traditional intermediaries. This method is bolstered by Open Banking and APIs, enabling seamless and instant payments. The shift to A2A payments is driven by consumer demand for faster, more convenient payment options, contrasting with the slower innovation pace of card payments. Open Banking plays a crucial role in this transition, facilitating direct, at-the-point sale transactions, reducing merchant fees, and enhancing security through Strong Customer Authentication (SCA). In essence, while Payment Card Processing has historically dominated digital commerce, the emergence of A2A Payment Processing indicates a move towards more streamlined, secure, and efficient payment methods, fueled by technological progress and changing consumer demands. I highly recommend reading the complete source article from Skaleet for an interesting deep dive on this topic: https://lnkd.in/eQV7Kx9M Now over to you: Which FinTech company is missing from the overview below❓ Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #payments #paytech #digitalpayments #openbanking #digitalbanking #fintech #fintechindustry #financialtechnology 

Payment Gateway 🆚 Payment Switch What is a Payment Gateway and Payment Switch? In the fast-paced world of FinTech, Payment Gateways and Payment Switches are often considered the heart and lungs of digital transactions. While they function in tandem, their roles are distinct yet complementary. A Payment Gateway serves as a digital cashier that secures and streamlines end-to-end transactions for businesses. It acts as a conduit between a customer's bank and a merchant’s platform, safeguarding sensitive data like card details. Once it verifies fund availability, it processes the payment and moves the funds to the merchant's account, typically within a couple of days. Within this framework lies the Payment Switch, the silent maestro of transaction processing. It resides inside the payment gateway and focuses on the micro-level details. For instance, when a payment request is made, the switch uses mechanisms like Bank Identification Numbers (BINs) to identify the corresponding banks and routes the transaction securely. In a nutshell, the payment gateway sets the stage for secure, smooth transactions, while the payment switch orchestrates the finer details. Together, they enhance transaction speed, safety, and reliability, acting as the linchpins of modern digital commerce. I highly recommend reading the complete document below to learn more about this👇 Source: M2P Fintech Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentprovider #paymentgateway #fintechindustry #financialtechnology #paymentservices #digitalbanking 

Payment Gateway 🆚 Payment Switch What is a Payment Gateway and Payment Switch? In the fast-paced world of FinTech, Payment Gateways and Payment Switches are often considered the heart and lungs of digital transactions. While they function in tandem, their roles are distinct yet complementary. A Payment Gateway serves as a digital cashier that secures and streamlines end-to-end transactions for businesses. It acts as a conduit between a customer's bank and a merchant’s platform, safeguarding sensitive data like card details. Once it verifies fund availability, it processes the payment and moves the funds to the merchant's account, typically within a couple of days. Within this framework lies the Payment Switch, the silent maestro of transaction processing. It resides inside the payment gateway and focuses on the micro-level details. For instance, when a payment request is made, the switch uses mechanisms like Bank Identification Numbers (BINs) to identify the corresponding banks and routes the transaction securely. In a nutshell, the payment gateway sets the stage for secure, smooth transactions, while the payment switch orchestrates the finer details. Together, they enhance transaction speed, safety, and reliability, acting as the linchpins of modern digital commerce. I highly recommend reading the complete document below to learn more about this👇 Source: M2P Fintech Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentprovider #paymentgateway #fintechindustry #financialtechnology #paymentservices #digitalbanking 

Payment Gateway 🆚 Payment Switch Let’s dive in👇 In the fast-paced world of FinTech, Payment Gateways, and Payment Switches are often considered the heart and lungs of digital transactions. While they function in tandem, their roles are distinct yet complementary. A Payment Gateway serves as a digital cashier that secures and streamlines end-to-end transactions for businesses. It acts as a conduit between a customer's bank and a merchant’s platform, safeguarding sensitive data like card details. Once it verifies fund availability, it processes the payment and moves the funds to the merchant's account, typically within a couple of days. Within this framework lies the Payment Switch, the silent maestro of transaction processing. It resides inside the payment gateway and focuses on the micro-level details. For instance, when a payment request is made, the switch uses mechanisms like Bank Identification Numbers (BINs) to identify the corresponding banks and routes the transaction securely. In a nutshell, the payment gateway sets the stage for secure, smooth transactions, while the payment switch orchestrates the finer details. Together, they enhance transaction speed, safety, and reliability, acting as the linchpins of modern digital commerce. I highly recommend reading the complete document below to learn more about this👇 Source: M2P Fintech Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentprovider #paymentgateway #fintechindustry #financialtechnology #paymentservices #digitalbanking