World

Worldwide the payments market remains fragmented with many different payment services and technologies, drivers, business models and value chains.
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LegalSystem

The three major legal systems of the world today consist of civil law, common law and religious law. However, each country (see State law) often develops variations on each system or incorporates many other features into the system.

(1) Civil law is the most widespread system of law around the world. It is also sometimes known as Continental European law. Traces back to Roman Empire.

(2) Common law and equity are systems of law whose sources are the decisions in cases by judges. Alongside, every system will have a legislature that passes new laws and statutes. Traces back to British Empire.

(3) Religious law refers to the notion of a religious system or document being used as a legal source, though the methodology used varies.

(4) Mixed/Hybrid Law: The most prominent example of a hybrid legal system is the Indian legal system. India follows a mixture of civil, common law and customary or religious law.

(5) International Law - governs the conduct of independent nations in their relationships with one another

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