Fintech & Payments

Your card or phone wallet sends encrypted card data. Phone wallets and contactless cards use NFC and replace the real card number with a token. See NFC and e-wallets.

The merchant's processor or acquirer (the merchant's bank, or a provider such as a payment gateway) packages the request. See payment orchestration vs a processor.

Networks such as Visa or Mastercard pass the request to the bank that issued your card.

The issuer checks your balance or credit line and runs fraud checks, then sends back an approval, all in a few seconds.

Later, usually within a day or two, the money moves from the issuer to the merchant's bank, minus fees (see below). Instant payment systems such as FedNow in the US, Faster Payments in the UK and Pix in Brazil settle account-to-account payments in seconds.

App-first banks and neobanks. Many are not banks themselves but partner with a licensed bank. See our neobank guide and the payments and digital banking hub.

Mobile wallets, peer-to-peer apps, buy now pay later and cross-border transfers. See are digital wallets safer?

Fraud detection, credit decisions, chat support and back-office automation. See AI applications in fintech and the trends hub.

Invoicing, accounting, cash forecasting and the financial close. See the finance operations hub.

Identity checks, compliance and data protection. See regulatory compliance and fintech security threats.