Payment Rail

A payment rail serves as a digital framework facilitating the seamless transfer of funds between individuals or businesses, often bypassing the need for a conventional bank account (although it can be integrated with one). Fintech-powered payment rails encompass diverse manifestations, ranging from credit cards like Visa or Mastercard to payment service providers such as PayPal or Venmo, as well as blockchain network protocols. The concept revolves around the proximity of the sender and recipient within a transaction, with the “far side” denoting the concealed aspect of the transaction and the “near side” representing the entity initiating the transaction.