Making a payment involves much more than just swiping/inserting your card or tapping your smartphone. Did you realize there are numerous phases or combinations of phases taking place behind the scenes? The release of The U.S. Path to Faster Payments, Final Report Part One: The Faster Payments Task Force Approach highlighted how payments are processed in the U.S. payment landscape. With the Final Report Part Two just around the corner, it’s important to develop a basic understanding of payments.
