Credit card processing has revolutionized the way we make payments, making transactions quicker and more convenient than ever before. Behind the seamless payment experience lies a complex process that involves various players and steps. In this article, we will delve into the world of credit card processing, understanding its essential components, and demystifying the steps involved.
The Players in Credit Card Processing
Credit card processing involves several entities, each playing a crucial role in facilitating transactions:
- Cardholder: The individual who possesses and uses the credit card to make purchases.
- Merchant: The business or seller that accepts credit