Digital payments explained | How your money travels from one bank to another
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When you swipe your card at the local kirana or make an online card transaction, you may have wondered whether the cost of the product or service will incur additional charges due to the chain of players involved in the payment process. Does the bank, card company or payment gateway make money from these transactions? Do you pay these fees directly or do sellers receive a cut of their revenue with each transaction? How are payments made? Many parts come together like clockwork to ensure that your money travels safely from one bank to another. We explain where all your money makes pit stops and how payments players earn along the way.
https://www.moneycontrol.com/news/business/digital-payments-explained-how-your-money-travels-from-one-bank-to-another-7906251.html
#DigitalPayments #CardPayments #Moneycontrol
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