Two ways to move the money
Four middlemen, or none.
Card payment
4 layers between you
person
Customer
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account_balance
Issuing bank
interchange
hub
Card network
scheme fee
sync_alt
Acquirer
margin
point_of_sale
Terminal
rental
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storefront
Merchant
1 – 2.5%
per transaction
Open banking payment
Bank to bank
person
Customer's bank
approve in one tap
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storefront
Merchant's bank
funds land direct
Near-zero fees
no middlemen