ee4b7305a2
This PR adds all the guides from [Visual Guides](https://bytebytego.com/guides/) section on bytebytego to the repository with proper links. - [x] Markdown files for guides and categories are placed inside `data/guides` and `data/categories` - [x] Guide links in readme are auto-generated using `scripts/readme.ts`. Everytime you run the script `npm run update-readme`, it reads the categories and guides from the above mentioned folders, generate production links for guides and categories and populate the table of content in the readme. This ensures that any future guides and categories will automatically get added to the readme. - [x] Sorting inside the readme matches the actual category and guides sorting on production
1.5 KiB
title, description, image, createdAt, draft, categories, tags
| title | description | image | createdAt | draft | categories | tags | |||
|---|---|---|---|---|---|---|---|---|---|
| The Payments Ecosystem | Explore the key players and processes in the payments ecosystem. | https://assets.bytebytego.com/diagrams/0360-the-payments-ecosystem.png | 2024-03-09 | false |
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How do fintech startups find new opportunities among so many payment companies? What do PayPal, Stripe, and Square do exactly?!
Steps 0-1
The cardholder opens an account in the issuing bank and gets the debit/credit card. The merchant registers with ISO (Independent Sales Organization) or MSP (Member Service Provider) for in-store sales. ISO/MSP partners with payment processors to open merchant accounts.
Steps 2-5
The acquiring process.
The payment gateway accepts the purchase transaction and collects payment information. It is then sent to a payment processor, which uses customer information to collect payments. The acquiring processor sends the transaction to the card network. It also owns and operates the merchant’s account during settlement, which doesn’t happen in real-time.
Steps 6-8
The issuing process.
The issuing processor talks to the card network on the issuing bank’s behalf. It validates and operates the customer’s account.
I’ve listed some companies in different verticals in the diagram. Notice payment companies usually start from one vertical, but later expand to multiple verticals.