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Term for a payment platform From Wikipedia, the free encyclopedia
A payment rail is a payment platform or a payment network that moves money from a payer to a payee. Either party could be a consumer or business, and both parties are able to move funds on the network.[1] Credit card rails are the credit card payment system. Blockchain is considered a newer type of payment rail, as are centralized electronic payment systems such as PayPal, Venmo and Zelle.[2] If the transferred funds are available immediately, a payment rail is referred to as a real-time rail.[3]
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