Customer
Issuing Bank
Credit card
Merchant CC network
Internet Merchant Bank
CC network
Customer Issuing Bank
Credit card
CUSTOMER
Merchant
CC network
Internet Merchant Bank
CC network
Customer goes to the merchant to buy their needs. There may be a chance that cash is not sufficient at the time of purchase. If they have credit card there is an ease while payment. Cardholder is an authorized user of a credit or debit card
Customer Issuing Bank
Credit card
Merchant
CC network
Internet Merchant Bank
CC network
Credit Card A credit card is issued by a credit card provider, like Capital One, and they are designed to pay for things in shops or online. You can also use credit cards for balance transfers and taking out cash (also known as cash advance or cash withdrawal) from an ATM.
Customer Merchant Bank
Credit card
MERCHANT
Merchant
CC network
Internet Issuing Bank
CC network
Merchant is a business or a nonprofit organization that has contracted with an acquiring bank or a merchant processor to accept card payments. OR A merchant is any business that maintains a merchant account that enables them to accept credit or debit cards as payment from customers (cardholders) for goods or services provided.
Customer Merchant Bank
Credit card
INTERNET The merchant swaps the card of enter detail on POS. The process takes place through Payment gateway software . Merchant Once payment authorization details are received, the processor sends transaction details to credit card network such as Visa, MasterCard, etc. Further the detail of the card is send for verification. Internet
CC network
Issuing Bank
CC network
Customer Credit card Issuing Bank
CC NETWORK
Merchant
CC network
Internet Merchant Bank
CC network
Credit Card Network authorizes the payment request. Then the requested amount is debited from the cardholder’s bank account. Later, the credit card network sends back payment approval confirmation to payment processor.
Customer Issuing Bank
Credit card
CC network
Merchant Bank
CC network
Merchant Bank
Merchant Bank is a registered member of the card associations. They contract with merchants to create and maintain accounts that allow the business to accept credit and debit cards, (i.e. merchant accounts). Merchant Bank provide Merchant merchants with equipment and software to accept cards, promotional materials, customer service and other necessary aspects involved in card Internet acceptance. The Merchant Bank also deposits funds from credit card sales into a merchant's account.
Customer Issuing Bank
Credit card
CC NETWORK Once the verification is confirmed from the issuing bank, Credit Card Network then authorizes the payment Merchant request. Then the requested amount is debited from the cardholder’s bank account. After the verification from issuing bank the CC Network authorized to transfer money.
CC network
Internet Merchant Bank
CC network
Customer Issuing Bank
Credit card
CC network
Merchant Bank
CC network
ISSUING BANK An issuing bank issues credit cards to consumers. The issuing bank is also a member of the card associations. Merchant Issuing banks pay acquiring banks for purchases that their cardholders make. It is then the cardholder's responsibility to repay their Internet issuing bank under the terms of their credit card agreement.
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