Stages of The Payment Procedure
May be it seems like a
simple process while you
are purchasing via credit
card payment process.
Infact, there are certain
layers to finish the whole
task flawlessly. Most of
you are not aware of it.
components that complete
the whole payment process.
The basic components are
merchants who are offering
their services and products,
customers who use their
from the terminals and
finally the gateway to
account service operators.
These operators send the message to the company
issuing credit cards to the customers and finally the
amount is transferred to the merchant’s account.
3 Most Important Stages of Credit Card
On the first stage customers will offer the
credit card to the sales person in purchase
store, hotel, restaurants, and so on.
On the next step, the card will be swiped at the
POS machine from where the message will be
transferred to the bank that has issued the credit
Later, the bank credits money the merchant’s account
and this is how the whole payment process is worked.
This is completely a circular procedure.