Dec 31, 2022
How does the payments industry work? This payments industry primer from Primerli is designed to help professionals learn about the industry in under an hour. It discusses closed-loop payments, and payments involving centralized banking systems.
Money and the concept of its exchange through payments have developed significantly since its conception. Money has taken numerous shapes, sizes, and forms, ranging from products to grain, metal coins to paper, and bank accounts to e-wallets. Payments progressed from barter (exchanging products for grains) through tokens (exchanging coins and cash on paper) to cash pooling (bank accounts and deposits) to cashless payments (credit cards, checks, e-wallets).
