Tencent Cloud Developer
Oct 17, 2024 · Backend Development
An Overview of Third-Party Payment Systems: History, Types, Architecture, and Core Concepts
The article surveys the evolution from first‑ to fourth‑party payments and explains third‑party payment platforms’ architecture, including user, merchant, and reserve‑fund accounts, core operations such as recharge, withdrawal, transfer, payment, refund, settlement, and the domain‑level decomposition that enables complex transaction flows.
account modelingbackend architecturefinancial technology
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