Credit cards are another key payment rail. They involve swiping a physical card (or entering credit card information), after which a credit card machine or remote server captures account information and digitally sends it to the merchant’s bank, which then submits it to the customer’s credit card provider, which either grants or denies the transaction. This process takes one to three days and typically costs merchants 1.5–3.5% of the transaction.
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Payments, Payment Rails, and Blockchains, and the Metaverse — MatthewBall.vc
matthewball.vc
32 ideas
·7.34K reads
IDEAS CURATED BY
The Payment Rails Of Metaverse: In Depth
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