Historically, payments has been seen as a cost center, not a profit center. But today, ambitious software platforms are figuring out ways to generate more revenue by taking control of their payments stack. It starts by understanding how credit card and debit card processing fees work.

The more the merrier. You hear this saying all the time. And most of the time, it’s true. Especially when it comes to giving your customers different options to shop and pay, such as in-person and online and alternative payment methods. But with payments APIs, it’s the opposite—one API integration is 100% better. Keep reading to find out why.

It seems everyone -- from traditional corporations to challenger, neo-banks -- wants to offer customers a card, lending, or faster access to their funds. Now that technology has finally arrived to financial services, legacy financial institutions are rethinking service delivery as new models and businesses emerge. An overview of the infrastructure underneath the payments that power our lives helps to paint a clear picture of how financial institutions work together to move money through this complex network.