PSP VS a Processor VS Core: covering the basics

In this episode, I spoke with Johnny Moreland who covers the core topics that serve as the introduction to the 9-episode long in-depth dive into the payments ecosystem. We will heavily focus on Moov Financial as the case-study since it has accomplished a lot in this sector (like direct connections to Fed and TCH) and because I now work at Moov:)

Clarification: during this interview it was mentioned that Stripe doesn't connect directly to the card networks. This information is outdated and Stripe does, in fact, connect directly into all 4 major card networks in the US.

Questions that were covered during the interview:

• Tell us about yourself and Moov
• What IS Moov?
• Payment Processor VS Payment Service Provider
• The legalities of it: what is required of a processor vs PSP
• Payment Processors are controlled very similar to banks, what are the differences?
• Comparison of Moov to FIS and other core-like businesses

As always, don't forget to follow my substack for more deep dives: https://aftfinance.substack.com/