How Do Credit Card Payments Work?

Create image :- google

Understanding your bill and how to pay it can cut your credit costs

Here is what you need to know about how credit card payments work.

Create image :- google

Make Use of Virtual Card Numbers

01.

Create image :- google

When you use a credit card to make a purchase, the amount you charge is added to what you owe in total.

Create image :- google

If you pay your balance in full every month, you can avoid interest payments altogether

Create image :- google

actors in a credit and debit card transactions

2.

Card associations

1.

Payment processors

Create image :- google

actors in a credit and debit card transactions

4.

A merchant bank

3.

Issuing banks

Create image :- google

What does credit card processing look like in motion?.

Create image :- google

Create image :- google

Credit card processing works in three distinct processes

1. Authorization

2. Settlement

3. 1. Funding

To learn even more about how credit card processing works, connect with one of our payments experts. We’re happy to answer your questions and walk you through the easy setup

Create image :- google