2min chapter

Fintech Beat cover image

Payments 101: Checks, ACH, FedWire, Stablecoins, CBDCs (and more)

Fintech Beat

CHAPTER

The Rise of the Bank-Based Infrastructure Settlement Layer

There are two layers to the payment system. There is an infrastructure layer where banks and Fed operate different payment schemes like ACH and Fedwire. And then there's this user layer, the user to bank interface which has seen a lot of innovation in recent years. The settlement layer hasn't innovated as much but we have seen some interesting developments with contactless payments for example.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode