Mortgages are a manufactured product

Mortgages are popularly thought of as loans, but to understand the industry, it's better to model them as complex manufactured products.

BNPLs: Businesses Needing Provided Legibility

BNPLs (Buy Now Pay Later) are an interesting, relatively novel payment method. Here is how they work.

The secondary market in gift cards

Gift card marketplaces largely (and surprisingly) match professional buyers and sellers of gift cards, rather than casual users. This creates an interesting ecosystem in the shadow of large retailers.

More than you want to know about gift cards

Gift cards are a loosely-regulated quasi-financial product and frequently misunderstood. Here's how they operate under the hood.

The fraud supply chain

Fraud is largely conducted by professionals operating in specialized firms, which have their own ecosystem of evil.

Bank transfers as a payment method

Bank transfers have exploded as a payment method in India and may become more common in much of the world.

Payments in Japan

The payments industry in Japan is evolving rapidly. Some trends are globally relevant.

Debit cards are hidden financial infrastructure

Debit cards are a core piece of financial infrastructure and drive much of the innovation happening in fintech.

How credit cards make money

Credit cards make money through net interest, interchange, fees, and marketing contributions.

Financial innovation is actually happening

Community Banking and Fintech