Parties involved in credit cards, Other Subject

PARTIES INVOLVED

  • Cardholder: The owner of the card used to create a purchase; the customer.
  • Card-issuing bank: The financial organization or other organization that issued the credit card to the cardholder. This bank bills the consumer for refund and bears the threat that the card is used dishonestly. American Express and Discover were before the only card-issuing banks for their individual brands, but as of 2007, this is no longer the case.
  • Merchant: The individual or business accepting credit card payments for products or services sold to the cardholder
  • Acquiring bank: The financial institution accepting payment for the products or services onside of the merchant.
  • self-governing sales association: Resellers (to merchants) of the services of the acquiring bank.
  • Merchant account: This could pass on to the acquiring bank or the self-governing sales organization, but in common is the association that the merchant deals with.
  • Credit Card association: An relationship of card-issuing banks for example Discover, American Express, Visa, MasterCard, etc. that put transaction conditions for merchants, card-issuing banks, and acquiring banks.
  • Transaction network: The system that equipment the mechanics of the electronic transactions. perhaps operated by an self-governing company, and one company might operate many networks. Transaction processing networks consist of: Nabanco, Omaha, NDC Atlanta, Nova, Cardnet, Paymentech, TSYS, Concord EFSnet, and VisaNet.
  • Affinity partner: Some organization provide their names to an issuer to attract customers that have a tough relationship with that organization, and get paid a fee or a percentage of the balance for each card issued using their name. Examples of distinctive affinity partners are universities, charities, sports teams, professional organizations, and major retailers.
Posted Date: 10/13/2012 1:13:41 AM | Location : United States







Related Discussions:- Parties involved in credit cards, Assignment Help, Ask Question on Parties involved in credit cards, Get Answer, Expert's Help, Parties involved in credit cards Discussions

Write discussion on Parties involved in credit cards
Your posts are moderated
Related Questions
Maizee Hospital is a 300-bed hospital in Nishingwa, Montana. It is part of a small investor-owned hospital chain, Corporation of Hospitals of America's Inland Northwest (CHAIN).

Latin American Cultures: The words 'Latin America' are used to describe the group of 21 countries in the American continent where Latin languages are spoken. These countries ar

Question 1: "Public policies in a modern, complex society are indeed ubiquitous. They confer advantages and disadvantages, cause pleasure, irritation and pain, and collectively

Purpose of Film Theory: The purpose of film theory is to add to the critical film debate by making changes in the method of study of film and film analysis. It is a conglomerate o

How to impliment 32:1 mux using 16:1 mux

Question 1 Explain five distinct zones of the atmosphere Question 2 Explain any five natural disasters Question 3 Explain any five effects of Air Pollutants

What do sociologist do?

how can i start an action research about student''s tardiness in coming to school or class?

How would land elevation have changed if Coronado had traveled 150 miles due west from what is today Arizona instead of east toward new Mexico?

.Make an argument about one of the following topics: 1. The magical elements in Bloom. by Kelly Ana Morey Weighting 40% Argument and Structure (35% as a letter grade) Written Pr