the payments guy (@knowpayments) 's Twitter Profile
the payments guy

@knowpayments

I write about history, economics and technology behind payments | Working at a tech startup

ID: 1607377537667301377

calendar_today26-12-2022 14:07:56

200 Tweet

95 Followers

321 Following

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Earlier, credit cards separated lending from banks Now, mobile phones are separating payments from banks There is a great unbundling happening. We are in an exciting time!

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Payment card technologies differed across countries due to the underlying infrastructure. While Europe started using Smart/Chip cards, US continued to use Magnetic stripe cards for a long time as it was much cheaper to process transactions through telephone connections in the US

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Did you know? Visa cards start with "4" Mastercard with "5" Discover with "6" A travel and entertainment (T&E) card with a "3" and hence American Express with "37" and Diners Club with "38" Quite incredible how card schemes managed to have the same convention globally!

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Interesting to see a transparent Interchange+ pricing offered by Finix for processing payments. This definitely saves hundreds of manhours spent by merchants in negotiating rates with PayFacs and Acquirers

Interesting to see a transparent Interchange+ pricing offered by <a href="/finix/">Finix</a> for processing payments. This definitely saves hundreds of manhours spent by merchants in negotiating rates with PayFacs and Acquirers
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Dee Hock explaining what business Visa was in, back in 1966. It was in the business of 1. Identification 2. Data exchange 3. De-Contextualization

Dee Hock explaining what business Visa was in, back in 1966. It was in the business of

1. Identification
2. Data exchange
3. De-Contextualization