Not sure if this is where I should be posing this, but does anyone have any links or are willing to put in the time to give me a brief overview of how banking works at the backend.
After listening to a podcast and hearing about Global Processing Services who have worked with Monzo to help them launch their banking payment services, it dawned on me that I’ve never really thought about who does what and how money exchanges hands from the point at which I tap my contactless card on the terminal.
I’m assuming this is something @dataxinja may be able to assist with?
In the meantime I’ll get onto Google* and see what I can find.
*Other search engines are available.