Hire best-in-class Payments consultants & experts

Our invite-only community connects the world’s top
Payments specialists to projects that need execution, now.

There are many different types of payments such as credit card, debit card, prepaid cards, and more. It is not always as easy to understand these types of payments as you might think. This article is going to help with some of the questions that you might have regarding payments and it will also give a brief insight on what a payment system does.

What are the different types of payment systems?
The most basic type is called cash. That means you exchange money for goods or services by handing it to someone in exchange for their products or services. There are two other major forms: electronic/online and cards/debit cards (also known as plastic). Electronic/online works in much the same way as cash but if you are online, you can use it to buy anything from a book to an airline ticket and more. Cards are a specific type of payment system that uses credit, prepaid cards or debit cards. A credit card has the advantage of allowing you to borrow money. You don’t have to pay it back for a specific time, which is why it is likely that you will be paying interest on your balance during this time. Debit cards are linked to your checking account so every time you swipe it, you draw on your checking account’s balance. This is why it is important not to overspend with debit cards because any debt incurred will need to be paid back immediately.

What is a payment system?
A payment system is a set of infrastructure that lets digital transactions take place. It is used by the currency of the currency, which could be PayPal or Bitcoin. A payment system allows you to make purchases online, pay bills, transfer money between accounts and more. It could be used just like cash and it makes thousands of possible transactions per second.

How does it work exactly?
The payment system has what’s known as a “ledger” where all the transactions are recorded. The ledgers at different banks are different for each bank so that the financial institutions do not have to share their data with one another. A payment system is organized in blocks or groups called blocks per second (bps). The system can also be used to send alerts to the users when a transaction is made.

What are the most popular payment systems?
Visa, MasterCard, American Express, PayPal and more. Visa and MasterCard work similar to cash in that they are used by millions of people all over the world. PayPal is a little different since it doesn’t have anything to do with the vertical credit card format. It is basically an online system that lets you transfer money from one person to another or to objects like bills or taxes.

What about mobile payments?
Mobile payments are payments made with a mobile phone. They are becoming increasingly popular because of the sheer number of people who have smartphones. Unlike other types of transactions, these transactions can be carried out in any location and not just at a bank or at a physical point-of-sale location. Even though the mobile phone is used, it does not require you to swipe your card or enter a pin. Instead, it works with near field communication (NFC) technology that lets two devices exchange data when they come within close proximity of each other. NFC technology is already built into most modern smartphones and there are several different companies that offer apps that can be downloaded onto the device such as Google Wallet and Apple Pay.

Why is it important to understand payments?
As you can see, understanding payments might seem like a big waste of time but it is really important that you understand these things. This is because the best way for you to make sure that your transactions are safe is not just to trust the payment system, but to understand how it works. Many people still have their bills paid by check because they don’t fully realize what exactly a payment system does and how it works. Understanding this will help you become more secure when using these systems in the future and will make your life easier as well.

Hire the best Payments specialists in 2,900+ industries

Fintalent is the invite-only community for top-tier M&A consultants and Strategy talent. Hire global Payments consultants with extensive experience in over 2,900 industries. Our platform allows you to build your team of independent Payments specialists in 48 hours. Welcome to the future of Mergers & Acquisitions!

Why should you hire Payments experts with Fintalent?

Trusted Network

Every Fintalent is exclusively invited and vetted.

Ready in 48h​​​

Hire efficiently. Your M&A team is ready in 2 days or less.​​​​

Specialized Skills​

Fintalents are best-in-class - and specialized in 2,900+ industries.​

Code of Ethics​​

We guarantee highest integrity and ethical principles.​​​

Selected Clients and Partners

Frequently asked questions

Most frequent questions and answers

What clients usually engage your Payments Consultants?

We work with clients from all over the world. Our clients range from enterprise and corporate clients to companies that are backed by Private Equity or Venture Capital funds. Furthermore, we work directly with Family Offices, Private Equity firms, and Asset Managers. Most of our enterprise clients have dedicated Corporate Development, M&A, and Strategy divisions which are utilizing our pool of Payments talent to add on-demand and flexible resources, expertise, or staff to their in-house team.

How is Fintalent different?

Fintalent is not a staffing agency. We are a community of best-in-class Payments professionals, highly specialized within their domains. We have streamlined the process of engaging the best Payments talent and are able to provide clients with Payments professionals within 48 hours of first engaging them. We believe that our platform provides more value for Corporates, Ventures, Private Equity and Venture Capital firms, and Family Offices.

Our Hiring Process – What do ‘Community-Approach’ and ‘Invite-to-Apply’ mean?

‘Invite-to-Apply’ is the process by which we shortlist candidates for the majority of projects on our platform. Often, due to the confidential nature of our clients’ projects, we do not release projects to our whole platform but using the matching technology and expertise of our internal team we select candidates who are the best fit for our clients’ needs. This approach also ensures engagement with our community of professionals on the Fintalent platform, and is a benefit both to our clients and independent professionals, as our freelancers have direct access to the roles best suited to their skills and are more likely to take an interest in a project if they have been sought out directly. In addition, if a member of our community is unavailable for a project but knows someone whose skill set perfectly fits the brief, they are able to invite them to apply for the role, utilizing the personal networks of each talent on our platform.

Which skills and expertise do your Fintalents have?

The Fintalents are hand-picked and vetted Payments professionals, speak over 55 languages, and have professional experience in all geographical markets. Our Payments consultants’ experience ranges from 3+ years as analysts at top investment banks and Strategy consultancies, to later career C-level executives. The average working experience is 6.9 years and 80% of all Fintalents range from 3-12 years into their careers.

Our Payments consultants have experience in leading firms as well as interfacing with clients and wider corporate structures and management. What makes our Payments talent pool stand out is the fact that they have technical backgrounds in over 2,900 industries.

How does the screening and onboarding of your Payments talent work?

Fintalent.io is an invite-only platform and we believe in the power of referrals and a closed-loop community. Members of our community are able to invite a small number of professionals onto the platform. In addition, our team actively scouts for the best talent who have experience in investment banking or have worked at a global top management consultancy. All of our community-referred talent and scouted talent are subject to a rigorous screening process. As such, over the last 18 months totaling more than 750 hours of onboarding calls, of which only 40% have received an invite-link after the call.

What happens if I am not satisfied with my Payments consultant’s work?

During your initial engagement with a member of our Fintalent talent pool with no risk. If you are not satisfied with the quality of your hire for any reason then we are able to find a replacement at short notice. There is no minimum commitment per project, but generally projects last at least 5 days and can last 12+ months.

Interested in our invite-only community of tier-1 Payments experts?

Cookie settings
Cookies are used on this website. These are needed for the operation of the website or help us to improve the website.
Allow all cookies
Save selection
Individual settings
Individual settings
This is an overview of all cookies used on the website. You have the option to make individual cookie settings. Give your consent to individual cookies or entire groups. Essential cookies cannot be disabled.
Save
Cancel
Essential (2)
Essential cookies are needed for the basic functionality of the website.
Show cookies