When you swipe your card at the local kirana or make an online card transaction, you may have wondered if the cost of the product or service contains additional charges because of the chain of players involved in the payment process. Does the bank, or the card company, or the payment gateway earn from these transactions? Do you pay these costs directly or do merchants take a cut from their earnings on each transaction? How do payments get executed? A lot of pieces come together like clockwork to ensure that your money securely travels from your bank to another. We explain where all your money makes pit stops and how payments players earn en route.
first published: Jan 6, 2022 01:04 pm
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