In my previous post (Collaboration and not disruption, may just be the key! Stitching together the world of disparate payments) I discussed on how fragmented the payment system is world over. I want to highlight a problem area that is abundantly documented in the form of posts on forums all over the internet – the …
The e-commerce gateway is need of the hour and its establishment will further boost consumers’ confidence.
Source: www.dawn.com
We already have 4 payment gateways in Pakistan, add 10 more I say, still will not change the way online sales are made, predominantly because of the documented vs. undocumented economy. Secondly, the need for flat-payments are in demand.
Often the question is asked, how does the processing of credit cards actually work. For example, how does Authorize.net or Card Service International or Bank of America process credit card transactions. Well, they essentially, use their economies of scale, to process transactions for you. Companies like Authorize.net et. al. setup elaborate system, networks, infrastructure, etc. to connect …
