SUPPLY CHAIN HANDBOOK

Payments: interfaces, processing and settlement

Prepared by IndustryAtlas Editorial principles & corrections

Trace payment interfaces through acquiring, card networks, accounts, clearing and settlement. Authorization, merchant payout and interbank settlement are different events; cards, bank accounts and wallet balances follow different paths.

Most recent source review: 2026-10-06

Reading guide revised: 2026-10-30

Does a successful phone payment mean every party has settled?

The interface shows one point in a longer process involving acceptance, authorization or debit, clearing and payout. Linked-card payments can use card networks; bank-account payments draw on deposits; wallet balances involve the platform ledger. Start with the funding source, then trace merchant acceptance and interinstitution settlement. This distinguishes the roles of devices, networks, banks and wallet providers without mistaking the customer interface for the entire payment system.

Card, phone or QR interface → Merchant acceptance and processing
A terminal or checkout captures payment credentials. Gateways and acceptance services route the transaction; the same phone can initiate a card, bank-account or wallet-balance payment.
Acquirers, card networks and issuers → Card authorization and clearing
Acquirers serve merchants, networks connect institutions, and issuers manage cardholder accounts and credit. Subsequent clearing determines institutional payment obligations separately from the initial response.
Transaction records and obligations → Settlement and merchant payout
Clearing organizes amounts due, settlement transfers funds between institutions, and merchants receive payouts under their service arrangements. Refunds and reconciliation connect back to the original order.

What changes the choice?

Identify credit, bank deposits or wallet balance as the funding source, then examine payout timing. NFC and QR describe interaction methods; neither alone determines the back-end fees or clearing route.

Sources for this overview

Payment industry chain

Cards, bank accounts and wallet balances

Payments connect devices, interfaces, merchant services, financial institutions and settlement infrastructure. Identify the funding source before tracing processing.

Entry sources reviewed: 2026-10-06

Start with three funding routes

01 / Cards and mobile cards
Follow acquiring, network and issuing roles, then distinguish domestic clearing from settlement.
Mobile card interfaces Merchant acquiring Card schemes & networks Card issuing & credit Domestic card clearing
02 / Bank-account payments
Identify deposit funding and interbank services. Read Taiwan and China as separate market branches.
Bank-account payments Interbank infrastructure China payment clearing Interbank settlement
03 / Wallet balances
Purchase, top-up and withdrawal are different events. Internal entries still rely on funds-management and bank arrangements.
Wallets & payment accounts Wallet balances & ledgers Bank-account payments Retail, online & transit payments

Role in the payment chain

Credit cards combine a payment instrument with credit. Mobile payment describes the interface. A phone can initiate a card, bank-account or wallet-balance payment; explore the three routes below.

Economics and barriers

Merchant fees cover multiple services and costs. Hardware revenue, software fees, acquiring income, interchange, network fees and lending interest belong to different roles.

Secure chips & NFC Card digitization & tokens Payment terminals POS & checkout systems Mobile card interfaces Wallets & payment accounts Gateways & payment processing Merchant acquiring Card schemes & networks Card issuing & credit Interbank infrastructure Domestic card clearing China payment clearing QR standards & interoperability

Distinction: Tapping or scanning alone does not identify the underlying funding or clearing route.

Sources

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Gateways & payment processing

APIs, transactions and reconciliation

Payment services connect merchants to cards and other methods, supporting processing, refunds and reconciliation. NewebPay and Adyen have different service scopes.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Gateway, processor and acquirer roles can be separate or integrated. NewebPay discloses acquiring-bank partners; Adyen also acquires in supported markets.

Economics and barriers

Per-transaction, percentage and service fees may apply. A merchant quote can include pass-through costs and should not all be treated as processor net revenue.

Distinction: Gateway and acquirer are different roles; check the entity and market.

Company roles

Scope of these company examples

NewebPay · Taiwan · Example role · Payment-method integration
Integrates methods and discloses acquiring-bank partners.
Product / role source
Sources reviewed: 2026-10-06
Adyen · Netherlands · Example role · Payment processing
Integrates acceptance methods, with acquiring recorded separately.
Product / role source
Sources reviewed: 2026-10-06

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Interbank settlement

Central-bank RTGS infrastructure

Institutions must settle payment obligations after transaction processing. Taiwan central-bank interbank funds transfer system uses real-time gross settlement and supports the payment system.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Retail systems may aggregate obligations before settlement through participating banks. Merchants usually receive payouts from their provider rather than connecting directly to the central bank.

Economics and barriers

Reliable final fund transfers and liquidity management are central. This infrastructure should not be modeled as a consumer app charging a merchant commission.

Domestic card clearing Interbank infrastructure

Distinction: A phone confirmation does not mean that purchase has instantly and individually completed central-bank settlement.

Sources

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Retail, online & transit payments

Acceptance and reconciliation

Retail, online commerce and transport services integrate payments into shopping or travel. Merchants need acceptance, reconciliation, refunds and reliable payouts.

Entry sources reviewed: 2026-10-06

Role in the payment chain

One setting can support several funding routes. Transit stored-value cards, payment-account ride codes and open-loop card acceptance are distinct products with different acceptance requirements.

Economics and barriers

Merchants weigh payment fees, equipment, integration, customer preference and operational efficiency. Purchase value is not payment-provider revenue.

POS & checkout systems Payment terminals Gateways & payment processing

Distinction: Payment success does not establish delivery of goods or transport services; refunds and returns can occur at different times.

Sources

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Cards & mobile card payments

Mobile card interfaces

Apple Pay and LINE Pay card payments

A mobile card interface initiates a card payment from a phone. Apple Pay and LINE Pay card payments illustrate how a new interface can retain card infrastructure.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Their credential and transaction implementations differ. LINE Pay Money also provides an electronic payment account role.

Economics and barriers

Commercial terms differ across markets and partners; an interface may earn service income or support a wider device ecosystem. Issuer interchange is not its automatic revenue.

Distinction: This node covers card-funded use, not every feature of the named platforms.

Company roles

Scope of these company examples

Apple · United States · Example role · Apple Pay card interface
Device payments and secure credentials, distinct from card issuing.
Product / role source
Sources reviewed: 2026-10-06
LINE Pay Taiwan · Taiwan · Example role · LINE Pay card payments
LINE Pay Taiwan services; electronic payment accounts have a separate operator.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Merchant acquiring

Acceptance, risk and payouts

Acquirers accept merchant transactions, arrange merchant payment and coordinate with card networks and issuers. NCCC, acquiring banks and Adyen in supported markets are examples.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Merchant onboarding, refunds, disputes and transaction risk are part of the role. A terminal or gateway can enable access without assuming all acquiring responsibilities.

Economics and barriers

Merchant fees must cover interchange, network and processing costs as applicable, plus operations and risk. A 2% merchant charge is not automatically 2% profit for any one participant.

Distinction: Acquirers serve merchants; issuers serve cardholders. One bank may perform both roles.

Company roles

Scope of these company examples

Adyen · Netherlands · Example role · Acquiring in supported markets
Check supported markets and entities; no Taiwan local-acquiring claim is implied.
Product / role source
Sources reviewed: 2026-10-06
National Credit Card Center · Taiwan · Example role · Merchant acquiring
Acquires merchant transactions and arranges payment.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Card schemes & networks

Visa, Mastercard, JCB and UnionPay

Card networks connect issuing and acquiring institutions through acceptance rules, interoperability and transaction services. These companies occupy the network role.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Visa and Mastercard are not ordinarily the cardholder lender. Authorization, message exchange, clearing and settlement are separate functions and can involve domestic processors.

Economics and barriers

Revenue includes network-related, processing, cross-border and value-added services, with different reporting categories. Issuer interchange and cardholder interest are not Visa or Mastercard interest income.

Distinction: A card brand does not mean that brand directly processes every step of every domestic transaction.

Company roles

Scope of these company examples

Visa · United States · Example role · Card brand and network
Visa connects issuing and acquiring partners, with market-specific service scope.
Product / role source
Sources reviewed: 2026-10-06
Mastercard · United States · Example role · Card brand and network
Mastercard connects issuing and acquiring partners, with market-specific service scope.
Product / role source
Sources reviewed: 2026-10-06
JCB · Japan · Example role · Card brand and network
JCB connects issuing and acquiring partners, with market-specific service scope.
Product / role source
Sources reviewed: 2026-10-06
UnionPay International · China · Example role · Card brand and network
UnionPay connects issuing and acquiring partners, with market-specific service scope.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Card issuing & credit

Limits, billing and repayment

Issuers assess cardholders, provide credit limits, manage bills and repayment, and bear associated credit risk. E.Sun Bank is a Taiwan issuer example.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Authorization normally reflects issuer account and risk decisions; networks may offer agreed stand-in processing. Issuing and merchant acquiring remain distinct roles.

Economics and barriers

Income can include interchange, annual fees and interest where applicable, offset by funding, rewards, losses and operations. Paying in full does not generate revolving interest on every purchase.

Distinction: Building a network also requires merchant acceptance, institutional partnerships, dispute rules and operations. Avoided network fees do not guarantee greater profit.

Company roles

Scope of these company examples

E.Sun Bank · Taiwan · Example role · Credit-card issuer
Credit-card accounts, lending and cardholder service.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Domestic card clearing

NCCC and transaction aggregation

Taiwan domestic card clearing aggregates applicable domestic transactions across institutions, determines payment obligations and connects to settlement.

Entry sources reviewed: 2026-10-06

Role in the payment chain

NCCC describes domestic non-on-us acquiring transactions being aggregated through the domestic clearing center and settled via the central-bank system. Card branding and domestic clearing can coexist.

Economics and barriers

Processing and clearing require accurate accounts, reconciliation and operational continuity. Cleared payment value is not operator revenue.

Distinction: Authorization approval, clearing and merchant bank-account credit are different events.

Company roles

Scope of these company examples

National Credit Card Center · Taiwan · Example role · Domestic card clearing
Aggregates applicable obligations for central-bank settlement.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Bank-account payments

Deposit-funded payments

Bank-account payments use deposits and may start in a banking app or a linked wallet. This funding arrangement differs from credit-card borrowing.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Routes vary for on-us, interbank and market-specific products. Not every transfer uses an international card network; a debit-card product may still use one.

Economics and barriers

Account and payment services may earn fees while incurring authentication, risk, technology and liquidity costs. A free consumer payment is not a cost-free chain.

Wallets & payment accounts Interbank infrastructure

Distinction: A bank account and a debit card do not specify the same processing route.

Sources

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Interbank infrastructure

FISC and shared services

Interbank infrastructure exchanges instructions and supports fund-transfer operations among institutions. FISC operates representative shared systems in Taiwan.

Entry sources reviewed: 2026-10-06

Role in the payment chain

FISC also participates in common services connecting banks and electronic payment institutions. Message, clearing and settlement arrangements vary by service.

Economics and barriers

Shared infrastructure reduces bilateral integration effort but requires availability, resilience, security and liquidity coordination. Fees depend on the service.

Distinction: FISC is neither the mandatory intermediary for every payment nor a consumer wallet.

Company roles

Scope of these company examples

Financial Information Service Co. · Taiwan · Example role · Interbank and shared services
Interbank remittance infrastructure; not a mandatory node for all card purchases.
Product / role source
Sources reviewed: 2026-10-06

Sources

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China payment clearing

NetsUnion, UnionPay and banks

Consumer platforms such as Alipay and Weixin Pay work with banks and applicable clearing infrastructure. NetsUnion and UnionPay have different system roles.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Bank-account-linked transactions of non-bank providers may use NetsUnion or other applicable channels. Card business has its own networks; foreign-card funding can follow a different route.

Economics and barriers

Consumer and merchant integration does not mean ownership of all infrastructure. Bank connectivity, interoperability, risk controls and cross-border services carry costs.

Distinction: Do not assume these platforms bypass banks or that every transaction uses one clearing operator.

Company roles

Scope of these company examples

NetsUnion Clearing Corporation · China · Example role · Non-bank payment clearing
Infrastructure for applicable provider-bank transactions, not every payment route.
Product / role source
Sources reviewed: 2026-10-06
UnionPay International · China · Example role · International UnionPay card business
International card partnerships, distinct from NetsUnion clearing.
Product / role source
Sources reviewed: 2026-10-06

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Wallet-balance payments

Wallets & payment accounts

Multiple funding options

Wallet providers combine customer accounts, merchant acceptance and payment services. JKOPay, iPASS MONEY, LINE Pay Money, Alipay and Weixin Pay operate different products and markets.

Entry sources reviewed: 2026-10-06

Role in the payment chain

An app may support cards, linked bank accounts and balances, subject to merchant, account and market conditions. Chinese platforms also rely on banks and applicable clearing infrastructure.

Economics and barriers

Merchant and payment-service fees may generate income, offset by processing, technology, risk, support and marketing costs. Payment volume is not revenue or profit.

Distinction: Wallet is not a uniform legal category across countries or products.

Company roles

Scope of these company examples

LINE Pay Money operator · Taiwan · Example role · LINE Pay Money accounts
Electronic payment accounts, separate from the LINE Pay Taiwan card-payment entity.
Product / role source
Sources reviewed: 2026-10-06
JKOPay · Taiwan · Example role · Electronic payments
Funding availability varies by account, merchant and product.
Product / role source
Sources reviewed: 2026-10-06
iPASS Corporation · Taiwan · Example role · iPASS MONEY
Electronic payment accounts, distinct from physical transit-card balances.
Product / role source
Sources reviewed: 2026-10-06
Alipay (China) · China · Example role · Alipay payments and accounts
Account and merchant services; domestic and foreign-card scenarios differ.
Product / role source
Sources reviewed: 2026-10-06
Tenpay (Weixin Pay) · China · Example role · Weixin Pay operation
Tenpay provides Weixin Pay account and payment services.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Wallet balances & ledgers

Top-ups, book entries and withdrawal

A balance payment reduces the payer account balance and records the merchant receivable or available funds under the service arrangement before payout.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Top-up, purchase, refund and withdrawal are distinct events. Internal entries do not remove the underlying bank relationships or imply an immediate interbank transfer for each purchase.

Economics and barriers

Ledger operation, reconciliation, safeguarding arrangements and support carry costs. Customer payment funds are not freely available provider revenue; treatment varies by market and product.

Distinction: A successful balance debit, merchant wallet availability and bank-account payout are different states.

Company roles

Scope of these company examples

JKOPay · Taiwan · Example role · Payment-account balance
Balance payments, top-ups and withdrawals follow service rules.
Product / role source
Sources reviewed: 2026-10-06
LINE Pay Money operator · Taiwan · Example role · Account ledger and withdrawal
Electronic payment account transactions and funds handling.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Payment equipment & security

Secure chips & NFC

Security and contactless connectivity

Cards, phones and contactless terminals may use secure chips and NFC components. Secure chips protect keys and execute operations; NFC provides short-range communication.

Entry sources reviewed: 2026-10-06

Role in the payment chain

NXP provides payment-oriented components and solutions. Implementations vary; an NFC-equipped device is not automatically a ready-to-use payment product.

Economics and barriers

Component supply and integration generate business. Security assurance, power, compatibility and product longevity matter; chip sales do not normally collect a cut of each purchase.

Distinction: NFC is a communication technology, not a card network or payment account.

Company roles

Scope of these company examples

NXP · Netherlands · Example role · Secure payment and NFC components
Components for contactless and secure payment implementations.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Card digitization & tokens

Credentials and lifecycle management

Tokenization substitutes a payment token for a card number in a defined context and manages provisioning, use, suspension and removal. Thales and Visa illustrate different service layers.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Adding a card involves issuer verification, credential provisioning and device security as well as an interface. Token services differ from credit underwriting.

Economics and barriers

Integration and security services may generate fees under contracts. Interoperability and credential lifecycle management are key barriers.

Distinction: Tokenization does not inherently replace networks or issuers; QR payments do not all use card tokens.

Company roles

Scope of these company examples

Thales · France · Example role · Digitization and tokenization
Services supporting financial institutions and digital credentials.
Product / role source
Sources reviewed: 2026-10-06
Visa · United States · Example role · Visa Token Service
Token services; network operations are recorded separately.
Product / role source
Sources reviewed: 2026-10-06

Sources

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Payment terminals

Tap, insert and accept payments

Payment terminals read card or mobile credentials and connect merchants to payment services. Castles and Ingenico are representative equipment providers.

Entry sources reviewed: 2026-10-06

Role in the payment chain

Terminals depend on payment software, keys, security requirements and acquiring configuration. A checkout computer can integrate with a terminal but serves a different function.

Economics and barriers

Sales, rental, maintenance and software are common models. Certification, market compatibility and field support create barriers.

Distinction: Selling a terminal does not itself make a company an issuer, acquirer or clearing operator.

Company roles

Scope of these company examples

Castles Technology · Taiwan · Example role · Payment terminals
Payment hardware, distinct from merchant acquiring.
Product / role source
Sources reviewed: 2026-10-06
Ingenico · France · Example role · Terminals and acceptance solutions
Payment hardware and integration ecosystem.
Product / role source
Sources reviewed: 2026-10-06

Sources

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POS & checkout systems

Products, orders and checkout

POS computers and self-service systems support merchant checkout and order handling, integrating separate payment capabilities. Posiflex is an equipment example.

Entry sources reviewed: 2026-10-06

Role in the payment chain

POS can also mean a payment terminal in some contexts. Classify the actual product: checkout computer, card reader or a service bundle with acquiring.

Economics and barriers

Equipment, peripherals and integration generate revenue. Reliability, software compatibility and support networks matter.

Distinction: A POS computer provider is not automatically a card network, bank or acquirer.

Company roles

Scope of these company examples

Posiflex · Taiwan · Example role · POS and self-service equipment
Checkout systems, distinguished from dedicated payment terminals.
Product / role source
Sources reviewed: 2026-10-06

Sources

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QR standards & interoperability

TWQR and acceptance connections

Common QR standards enable compatible acceptance across participating banks and payment providers. TWQR is a Taiwan example.

Entry sources reviewed: 2026-10-06

Role in the payment chain

A compatible merchant code can serve participating apps that support the transaction. Funding still comes from the selected account or instrument.

Economics and barriers

Interoperability reduces integration friction but still requires platforms, institutional cooperation and processing. Charges follow service arrangements.

Distinction: TWQR is a standard and service, not a separate wallet company or a promise that every app scans every code.

Company roles

Scope of these company examples

Financial Information Service Co. · Taiwan · Example role · TWQR interoperability
Common standards and platform cooperation; TWQR is not a separate wallet company.
Product / role source
Sources reviewed: 2026-10-06

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How the roles connect

Each connection appears once in this handbook. Classification describes a branch; technology links compare or relate approaches; service arrows point to the supported activity. Company examples do not establish a supply contract.

Connections, handoffs and sources
From / to	Handoff / relationship	Evidence
Payment industry chain Mobile card interfaces	Card route Mobile cards can retain card acceptance and issuing infrastructure.	Apple \| Apple Pay security and privacy 2026-10-06
Payment industry chain Bank-account payments	Bank-account route Deposit-funded payments use product-specific routes.	FISC \| Interbank remittance services 2026-10-06
Payment industry chain Wallet balances & ledgers	Balance route Purchase entries differ from top-up and withdrawal.	LINE Pay Money \| Electronic payment account terms 2026-10-06
Secure chips & NFC Payment terminals	Contactless components Relevant components can support terminals; no supplier contract is implied.	NXP \| Secure payment chips and NFC 2026-10-06
Secure chips & NFC Mobile card interfaces	Device security Communication and security arrangements vary by device.	Apple \| Apple Pay security and privacy 2026-10-06
Card digitization & tokens Mobile card interfaces	Digital credentials Tokenization supports selected mobile card implementations.	Apple \| Apple Pay security and privacy 2026-10-06
Card digitization & tokens Card schemes & networks	Network token services Visa offers tokenization; not mandatory for every payment.	Visa \| Payment tokenization 2026-10-06
POS & checkout systems Payment terminals	Checkout integration Checkout systems may connect to separate payment terminals.	Posiflex \| POS and self-service systems 2026-10-06
POS & checkout systems Retail, online & transit payments	Checkout equipment Merchants use equipment and integrations for checkout.	Posiflex \| POS and self-service systems 2026-10-06
Mobile card interfaces Payment terminals	Contactless card acceptance Compatible terminals accept mobile card payments.	Apple \| Apple Pay security and privacy 2026-10-06
Mobile card interfaces Gateways & payment processing	Online card payments Card interfaces can connect through payment services.	NewebPay \| Payment methods and acquiring partners 2026-10-06
Payment terminals Merchant acquiring	Acceptance connection Terminal transactions connect to acquiring or its processor.	NCCC \| Merchant acquiring 2026-10-06
Retail, online & transit payments Gateways & payment processing	Connect payment methods Merchants may use a provider; a separate gateway is optional.	NewebPay \| Payment methods and acquiring partners 2026-10-06
Gateways & payment processing Merchant acquiring	Card acceptance branch Gateway and acquiring roles may be separate or integrated.	NewebPay \| Payment methods and acquiring partners 2026-10-06
Merchant acquiring Card schemes & networks	Network coordination Connects to issuing institutions under domestic and cross-border arrangements.	Visa \| 2025 annual report and revenue model 2026-10-06
Card schemes & networks Card issuing & credit	Authorization and rules A four-party card model; responses return through the system, not a one-way funds transfer.	Mastercard \| 2025 annual report and revenue model 2026-10-06
Merchant acquiring Domestic card clearing	Applicable domestic transactions Domestic non-on-us clearing, not a universal global route.	NCCC \| Domestic clearing center 2026-10-06
Card issuing & credit Domestic card clearing	Issuer clearing obligations Domestic clearing determines institutional obligations.	NCCC \| Domestic clearing center 2026-10-06
Domestic card clearing Interbank settlement	Settle through central-bank system Taiwan domestic card-clearing example.	NCCC \| Domestic clearing center 2026-10-06
Gateways & payment processing Wallets & payment accounts	Wallet acceptance branch Merchants connect supported wallet methods.	NewebPay \| Payment methods and acquiring partners 2026-10-06
Wallets & payment accounts Bank-account payments	Linked-account payment Available only where product, merchant and account support it.	JKOPay \| Payment methods 2026-10-06
Wallets & payment accounts Wallet balances & ledgers	Balance debit Payment-account balance use is distinct from card funding.	LINE Pay Money \| Electronic payment account terms 2026-10-06
Wallet balances & ledgers Retail, online & transit payments	Merchant receivable and payout Internal credit and bank payout need not coincide.	LINE Pay Money \| Electronic payment account terms 2026-10-06
Wallet balances & ledgers Bank-account payments	Top-up or withdrawal Account funding and withdrawal, not an interbank transfer on every balance purchase.	JKOPay \| Payment methods 2026-10-06
Wallets & payment accounts Merchant acquiring	Supported card-funded branch Selecting card funding can use the card acceptance chain.	JKOPay \| Payment methods 2026-10-06
Bank-account payments Interbank infrastructure	Taiwan interbank branch On-us transactions and other products can use different arrangements.	FISC \| Interbank remittance services 2026-10-06
Interbank infrastructure Interbank settlement	Settlement coordination Participant-bank settlement follows system rules.	Central Bank \| Interbank funds transfer and settlement 2026-10-06
Wallets & payment accounts China payment clearing	China clearing branch Alipay and Weixin Pay routes depend on funding and service.	NetsUnion \| Payment clearing infrastructure 2026-10-06
China payment clearing Bank-account payments	Provider-bank coordination China and Taiwan are market alternatives, not consecutive systems.	NetsUnion \| Payment clearing infrastructure 2026-10-06
QR standards & interoperability Wallets & payment accounts	Participating app interoperability TWQR compatibility is subject to service support.	iPASS \| iPASS MONEY and TWQR 2026-10-06
QR standards & interoperability Interbank infrastructure	Shared-platform support Common codes work with cross-institution services.	TWQR \| Common QR payment standard and services 2026-10-06
QR standards & interoperability Retail, online & transit payments	Common-code acceptance Participating merchants accept compatible payment services.	TWQR \| Common QR payment standard and services 2026-10-06
IC Design Secure chips & NFC	Secure-chip application Connects IC design to payment chips without inferring manufacturing contracts.	NXP \| Secure payment chips and NFC 2026-10-06
Smartphones Mobile card interfaces	Mobile payment interface Phone hardware and software support mobile payments.	Apple \| Apple Pay security and privacy 2026-10-06
Gateways & payment processing Payments and Platform Collections	E-commerce payment services Connects commerce to payment roles without assuming vendor partnerships.	NewebPay \| Payment methods and acquiring partners 2026-10-06
Retail, online & transit payments Cross-Border E-Commerce and Retail	Online commerce use Payments are separate from physical order delivery.	NewebPay \| Payment methods and acquiring partners 2026-10-06

Scope of company examples

Representative roles, not market-share rankings. Companies can span roles. Country labels do not define every product market.

Does a successful phone payment mean every party has settled?

Card, phone or QR interface → Merchant acceptance and processing

Acquirers, card networks and issuers → Card authorization and clearing

Transaction records and obligations → Settlement and merchant payout

What changes the choice?

Payment industry chain

Start with three funding routes

Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Cards & mobile card payments

Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Bank-account payments

Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Wallet-balance payments

Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Payment equipment & security

Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain

Economics and barriers

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Role in the payment chain