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Why is there a need of thirdparty gateway while transferring money from one bank to another?

There are 25000 banks in the world. Banks to do not want to establish 25000 connections to each of the other banks. without payment networks, you would have situations where most banks would tell you “...
jcaron's user avatar
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2 votes

Why is there a need of thirdparty gateway while transferring money from one bank to another?

Do you know how many banks there are? For direct transfers, each and every bank would have to link with every other bank. That’s a LOT of interconnections. (The math racks up some pretty huge ...
RonJohn's user avatar
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