Credit card transaction is not a new concept. Also referred as Association member, operates the network to facilitate the credit card payment process, worldwide and administrate interchange fees. Credit card network receives details of credit card payment from the service provider and forwards the request for authorization to the issuing bank. In return, it sends a response of the issuing bank to the service provider. Some of the examples of the credit card network are Visa, MasterCard, and American Express. Most of the customers do not care about the complete process. It may seem unnecessary, it provides important information about the inner workings of the modern commerce.
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