maksevõrk

Maksevõrk, also known as a payment network, is a system that facilitates the transfer of funds between parties. It serves as an intermediary that enables the exchange of money, goods, or services without the need for physical currency. Payment networks can be categorized into two main types: closed-loop and open-loop systems.

Closed-loop payment networks are proprietary systems used by a single company or organization. They are designed to facilitate transactions within a specific ecosystem, such as a loyalty program or a corporate payment system. Examples include airline miles and hotel points.

Open-loop payment networks, on the other hand, are interoperable systems that allow transactions between different parties. They are typically used for retail payments and can be further divided into two categories: card networks and digital payment networks. Card networks, such as Visa and Mastercard, enable transactions using physical or virtual credit, debit, or prepaid cards. Digital payment networks, like PayPal and Alipay, facilitate transactions using digital wallets or mobile apps.

Payment networks play a crucial role in the global economy by enabling seamless and secure transactions. They provide convenience to consumers, businesses, and financial institutions by offering various payment methods, reducing transaction costs, and enhancing security features. Additionally, payment networks contribute to financial inclusion by providing access to financial services for unbanked and underbanked populations.