#106 | The Payments Industry | Industry Deep Dive
In this deep dive, we break down the global payments industry from the ground up, moving past the surface-level metrics to examine the hidden framework that powers every digital and physical transaction. We explore why payments are a battleground of intense competition, structural moats, and evolving technology, helping investors separate true compounding businesses from value traps.
Chapter 1: The Four Party Model
Chapter 2: Point of Sale
Chapter 3: Digital Wallets
Chapter 4: Payment Service Providers
Chapter 5: Issuing and Acquiring Banks
Chapter 6: Card Networks
Chapter 7: Crypto and…
The skinny
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