payments system operators can be thought of as both networks and processors. NACHA Open loop Merchant Closed loop refers to people who rarely, if ever, have held a checking or savings account. Unbanked Payment gateway Underbanked Virtual banked have had the greatest impact on the increased use of credit cards over the last ten years. Rewards-based loyalty programs Information security Convenience Status recognized the potential to enable smart phones with wide area network connectivity and availability, to be used as credit card accepting devices. PayPal Wells Fargo Square ACH Kabbage The evolution of card technology from magnetic stripe to EMV chip cards is considered an change. revolutionary revolving evolutionary futuristic