AraxaTech Team Blog

Mostly about fintech and development…

  • Interchange Network 

    This is the fourth text in the series explaining how payment cards and wallets interact. The purpose of this text is to provide some details about operations of the interchange network in the process. In this text, I will use the term “interchange network” for any card network, and for all components that do not belong […]

  • Payment Gateway

    This is the third text in the series explaining how payment cards and wallets interact. The purpose of this text is to provide some details about operations of payment gateways in the process. We will use the single term “payment gateway” for acquiring payment processors, payment service providers (PSP) and acquiring clearing hosts (ACH) – […]

  • Card Acceptor or Transaction Source (or Point of Interaction) 

    This is the second text in the series explaining how payment cards and wallets interact. The purpose of this text is to shed more light on a merchant’s role in card processing, maybe even to give some pointers to those who are planning to start accepting cards online or otherwise. Card acceptor is a company […]

  • How payment cards work 

    This is the first text in the series explaining how payment cards and wallets interact. The purpose of this text is to define terminology and to explain basics about card processing.

  • Revolut $20M loss – my theory

    Many people have been speculating lately about the nature of Revolut’s $20M loss, so here is the theory I find most probable: this is most likely caused by mishandling authorizations that exceed the processing time. Background When a wallet receives an authorization request, it is allocated a certain time span to respond with either “approve” […]