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Digital payments - Coggle Diagram
Digital payments
Payments
Remote commerce
E-Com
MObile
MOTO - Mail or Telephone
P2P
Pair to pair
Point of Sale
When customer is present
Pay by invoice
B2B
Income
For salary payment
Models
Open Loop System
Parties can communicate for payment without know each other
Closed Loop System
Operates directly
Types
Push
a party proactively sends funds to another party
Pull
when party request money from another
Payment Service Provider PSP
Gateway or payment orchestrator
Processor
Technical processor issuer -> acquirer
Card Network
Visa
Mastercard
Issuer
Who created the card
Acquirer
Accept transaction for merchant
Merchant
Business who sells
Third Party Payment Provider
Provide APIs to access consumer account
PISP
Allows to buy without card usage
AISP
Allow to see purchases of a person in readonly mode
Clearing House
Process/clears payments