• KARLA FRIEDE

Fintech payment solutions are similar to bank solutions in that they ride on same payment rails. In the world of payments, ‘rails’ refers to the network that transports packets of encoded payment information. All banks use NACHA’s standard for trading ACH files as their rail system. MasterCard/Visa and Amex each have their own rails. All “payment cars” ride these rails in the U.S., and both banks and fintechs use them. There is no global set of rails yet, so cross-border payments are a lengthy,
Read more...