Parties involved in credit cards, Other Subject


  • 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
I get a assignment on History of historiography ? I am facing some problems in my assignment of History of historiography. Can anybody suggest me the proper explanation for it? I

FITS TO MERCHANTS An illustration of street markets accept credit cards For merchants, a credit card transaction is frequently added more security than other types of paymen

Peer counselling is the process whereby motivated and well-trained people undertake informal or organized activities with their peers (those similar to themselves in age, backgrou

Key features of EMS: Serves as a tool to develop environmental performance. Provides a systematic method for managing an organization's environmental behavior. Is that aspect of t

AUTHENTICATION EFTS transactions may be go together with by methods to validate the card and the card holder. The merchant may manually confirm the card holder's signature, or

i really need some help in college american government book, "we the people ninth edition texas

Question 1: ‘Even though the public is ready, and women themselves are trained, educated, in the pipeline, and prepared to lead, women are vastly underrepresented at the top ra

Politics shows a very fundamental role in the growth or failure of any particular industry. It is basically certain decisions taken by a group of people for the betterment of any s

Question: It is believed that the grief experience impacts all aspects of the being of an individual. Describe carefully any one of the following reactions which an individu

functions of a library catalogue