Useful articles and mental models about the payment industry.

The payments industry fascinates me and has a variety of unique advantages and network effects absent in other industries. Almost no other industries have total addressable markets in the multi-trillions of dollars, are early in their adoption S curve, and strong built in network effects. Digital payments be they VISA, the Bitcoin lightening network, Cash App, or Venmo are competing with slow dirty and easily stolen cash. As always nothing from me is investment advice.

Payments & The Trillion Dollar Market Opportunity
Author: John Street Capital
https://john-street-capital.medium.com/payments-the-trillion-dollar-market-opportunity-3f52b481b6e5

How do debit cards work?
Author: Marcie Geffner
https://www.bankrate.com/banking/swipe-how-do-debit-cards-work/

VISA (1 of 2): A history of VISA
Author: Mine Safety Disclosures
https://minesafetydisclosures.com/blog/2019/5/29/part-l-a-history-of-visa

VISA (2 of 2): An overview of VISA
Author: Mine Safety Disclosures
https://minesafetydisclosures.com/blog/2019/7/23/part-ll-an-overview-of-visa

Why Visa and MasterCard will continue to reign supreme in an increasingly digital world
Author: Michael
https://michael08.medium.com/why-visa-and-mastercard-will-continue-to-reign-supreme-in-an-increasingly-digital-world-5c4a9adf0a0e

Stripe: Platform of Platforms
Author: Ben Thompson
https://stratechery.com/2020/stripe-platform-of-platforms/

Plaid's Quiet End Run
Author: Mario Gabriele
https://www.readthegeneralist.com/briefing/plaid