Imagine what would happen if you swipe your card and the payment doesn’t go through? Many of us do not take the time to think about the behind the scene operations that are necessary for us to be able to pay using a credit or a debit card. The Card Association’s Network offers timely payments and the assurance of secure transactions to all merchants, cardholders and financial institutions.
Keep reading to get a general overview of the process that takes place during the lifecycle of the payment card processing transactions.
Two part process: Processing a payment card has two parts:
This is the process every time you buy something in a store and swipe your card.