Information Madness

Credit cards are now a household item infact Credit Cards have replaced the cash from people's wallet. Now a days you can purchase anything using your Credit Cards. Credit card spending volume in the U.S. grew by 10.7 percent in June, compared to the same month a year ago. So what exactly goes behind the scene when you swipe your credit card at the merchant?

Well, here is a detailed analysis and the process behind the Credit Card Processing

You being a card holder swipe your credit card at the merchant store. The merchant than processes your request/transaction. Merchant bank submits this authorization request to Credit Card network. Credit Card Network then sends the request to the card issuer. Card Issuer approves/declines the transaction. This information is forwarded to merchant bank.

Once the Merchant bank receives this authorization, they respond to the merchant. Merchant then receives the authorization and completes the transaction. You at the end receive your product/item.

The whole process happens so quickly that users like me and you just don't realize the complexity of it. There are many more such details about the credit card processing and the credit card payments that we are not aware of. But if you follow the Credit Card Processing Blog, you can get inside information about how the credit card industry works.

This was a sponsored post