In this article, we will look at push and pull payment transactions, two key concepts in payments. At first, let’s consider the definitions of the words pushing and pulling. Pushing means exerting a force on somebody or something in order to move it away from oneself. Pulling is applying force on somebody or something also, […]
Traditional payment systems operate essentially on two types of models: open loop models and closed loop models. In this post, we will present each of the models with their advantages and drawbacks. Understanding how these models work is crucial for the analysis of payment systems. So read the following very carefully. Open loop models in […]
Many take payment systems for granted and some are not even aware of their existence. But the reality is that our world would be completely different without them. What is a payment? What are payment instruments and payment systems? To start with fundamentals, this first article provides a brief introduction to payments and payment instruments […]