What is the credit/debit business and how does it work?
Merchants can accept a MasterCard credit card or a MasterCard debit card. A credit product allows the consumer to make purchases based on an established line of credit received by their card issuing bank. The credit limit is the spending amount established by the issuing bank based on a consumer credit profile. A debit product allows the consumer to make a purchase based on funds available in their bank account. Debit purchases are drawn directly from the consumer’s bank account and show up directly on the consumer’s monthly bank statement.
