Credit card payment processing has become a big payment mode in todays trade or business practice. Credit card processing is a simple payment method that requires the swiping of the customers credit card by the trader, through the credit card processing machine.
Since this credit card processing procedure involves a widespread network of bank and merchant account holders, credit cards have become a growing craze among customers and thus credit card payment is the most preferred mode of payment among customers and traders across the world today.
This processing network basically comprises of credit card holder, credit card provider or bank and the merchant account owner or trader. The process of attaining payment through a credit card is to perform the exchange of information and money transaction from the customers bank account to the traders merchant account.
Procedure of credit card payment in actual comprises of a series of steps taken by the bank or the credit card company. Following are the steps that are performed before a customer gets to enjoy his/her purchase:
– The trader swipes the customers card through the credit card processing...
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