Maksevõrkudega

Maksevõrkudega refers to payment networks in Estonian. These networks facilitate the transfer of funds between individuals, businesses, and financial institutions. They are the underlying infrastructure that enables transactions to occur when you use a credit card, debit card, mobile payment app, or online banking.

These networks can be broadly categorized into several types. Card networks, such as Visa and Mastercard, are widely used for point-of-sale and online purchases. They connect issuing banks (which provide cards to consumers) with acquiring banks (which process transactions for merchants). Electronic Funds Transfer (EFT) networks allow for direct transfers between bank accounts, often used for payroll, bill payments, and direct debits. Mobile payment networks, like Apple Pay and Google Pay, leverage these underlying card or EFT networks but provide a convenient interface for smartphone users.

The operation of maksevõrgud involves several steps. When a payment is initiated, the transaction details are encrypted and sent through the network. This information is verified, and authorization is granted or denied. Funds are then transferred between the relevant accounts. Security is paramount in these networks, with robust measures in place to prevent fraud and protect sensitive financial data. The efficiency and reliability of these maksevõrgud are crucial for the smooth functioning of modern economies, enabling commerce and financial activity on a global scale.