In the previous blog, we explained how the transaction cycle works and how this process has changed the lives of many people. But now, how do payment cards make this entire process a reality? Payment cards are a wallet fixture. Along with your ID, a couple of family pictures or lucky charms and some cash, […]
In the previous instalment of Payment Processing 101, we explained how the key players in this process interact with each other at different stages of any transaction. The issuing banks, the acquirer, the card banks, the merchants and the cardholders all have their own specific function. The story doesn’t end with placing your card over […]
It’s always a good idea to have a general understanding of how card processing and the payments industry work, mainly because of the fees involved at various stages of this system.
