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Hi Alex - Thanks for this helpful diagram. I am unclear as to the relationship between ISO/MSPs and Payment Gateways? I.e. if I go to a cafe and put my card into a square terminal, I thought the square terminal was the gateway - if not, as per your diagram, what is the "payment gateway" square uses? Also, in the diagram, there is no indicated "line" relationship between ISO and gateway, whereas in the description below it suggests ISOs and processors work together to open merchant accounts. I would appreciate any clarification here if possible. Many thanks!
EP28: The Payments Ecosystem. Also...
hey Alex, could you please do one system design on BNPL?
Hi Alex - Thanks for this helpful diagram. I am unclear as to the relationship between ISO/MSPs and Payment Gateways? I.e. if I go to a cafe and put my card into a square terminal, I thought the square terminal was the gateway - if not, as per your diagram, what is the "payment gateway" square uses? Also, in the diagram, there is no indicated "line" relationship between ISO and gateway, whereas in the description below it suggests ISOs and processors work together to open merchant accounts. I would appreciate any clarification here if possible. Many thanks!
In the payments ecosystem you have just put there couple of examples of acquirers and psps, right? otherwise I am missing worldline, for example....