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How does a credit card work from merchant to issuer?

April 26, 2017credit card issuer merchant

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How does a credit card work from merchant to issuer?

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Posted

A merchant swipes the customer’s card through a terminal which verifies and authorizes the transaction. The transaction is then processed or acquired by the merchant’s bank which submits the transaction to a network for settlement. During the processing or settlement, the transaction is then routed to the card issuing bank for payment.