A payment rail is a payment platform or a payment network that moves money from a payer to a payee. Either party could be a consumer or business, and both parties are able to move funds on the network. Credit card rails are the credit card payment system. Blockchain is considered a newer type of payment rail, as are centralized electronic payment systems such as PayPal, Venmo and Zelle.[1][2] If the transferred funds are available immediately, a payment rail is referred to as a real-time rail.[3]

References

  1. ↑ "PayPal and Google bind payment rails". finextra.com. 2018-05-25. Retrieved 2018-09-26.
  2. ↑ "IS ZELLE BECOMING THE NEXT PAYMENT "RAIL"?". ThePaymentsReview. Retrieved 2019-12-02.
  3. ↑ "Canada's payments modernization effort chugs towards 'real time rail' by end of 2019". itworldcanada.com. 2018-09-18. Retrieved 2018-11-19.
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