Introduction to the Payments and Cards Industry

About the Speaker

• Name: Saurabh Khandelwal
• Position: Manager in Artificial Intelligence and Analytics
• Domain: Data and Reporting
• Industry Focus: Cards and Payments
• Purpose of the Channel: Share knowledge, collaborate, discuss trends, best practices, and deliver IT projects within cards and payments.

Why This Video?

• Share knowledge gathered from years of experience in the technical and functional space.
• Collaborate and learn with fellow professionals.
• Discuss latest trends and shifts in data, reporting, and cards and payments industry.
• Cover best practices in the domain.

Target Audience

• Primary: Software engineers, IT consultants in the cards and payments domain.
• Secondary: Anyone interested in learning about the cards and payments industry, including those switching domains or needing knowledge for future projects.

Format of Videos

• Short videos (5-10 minutes).
• Mix of short and extensive videos based on the topic.
• Usage of websites like Wikipedia, Investopedia for references.
• Videos will include decks for better understanding.
• Series of playlists (technical and functional).
• Start with functional aspects of payments and cards industry.
• Pre-recorded sessions with Q&A via comments.

Overview of Payments and Cards Industry

• Industry under Banking and Financial Services. Huge space with varied segments:
  • Capital Markets
  • Banking
  • Cards and Payments
  • Consumer Finance, Loans, Mortgages
• Most people use this industry through credit/debit cards, vouchers, etc.

Key Entities in Payments and Cards Industry (MANIC Model)

1. Merchant (M): The service provider (e.g., grocery stores, brick and mortar shops, online portals).
2. Acquirer (A): Handles transactions on behalf of the merchant, deposits money into the merchant's account.
3. Network (N): Facilitates communication between acquirer and issuer, processes transactions (e.g., Visa, Mastercard).
4. Issuer (I): Issues cards to cardholders (e.g., banks like Barclays, ICICI).
5. Cardholder (C): End-users who use cards for transactions.

Detailed Roles

• Cardholder: Ordinary person with a card used for transactions.
• Issuer: Card-issuing authority/company (e.g., banks like Barclays, ICICI).
• Merchant: Provides goods/services to cardholders and has a bank account for transactions.
• Acquirer: Takes money on behalf of merchant, deposits into merchant's account. Examples: First Data, WorldPay.
• Network: Processes and authorizes transactions, handles communication between issuer and acquirer. Examples: Visa, Mastercard.

Additional Notes

• Importance of each entity and their interactions in the transaction process.
• Mnemonic MANIC to remember entities:
  • M: Merchant
  • A: Acquirer
  • N: Network
  • I: Issuer
  • C: Cardholder

Final Thoughts

• Video series aims to provide a deeper understanding of the payments and cards industry.
• Encouragement to leave comments/feedback for improvements.

Happy Learning and see you in the next session!