#106 | The Payments Industry | Industry Deep Dive

In this deep dive, we break down the global payments industry from the ground up, moving past the surface-level metrics to examine the hidden framework that powers every digital and physical transaction. We explore why payments are a battleground of intense competition, structural moats, and evolving technology, helping investors separate true compounding businesses from value traps. Chapter 1: The Four Party Model Chapter 2: Point of Sale Chapter 3: Digital Wallets Chapt...