Each year, hundreds of millions of credit a debt cardholders make billions of transactions worth trillions of dollars. Yet few are aware that such transactions travel through, a are made possible by, a group of intermediaries that accept cards, handle card transactions, manage the dispute-resolution process, a set rules that govern card transactions. This article demystifies the AiBlack BoxAi of the transactions process for payment cards. Describes a simple transaction with a private-label card. Emphasizes the key roles of merchant acquirers a card processors. Delineates the risk factors associated with specific industries, merchant types, a transactions that influence the price merchants pay for acquirersAi services. Discusses ways that merchant acquirers manage risk.A Reprint from the aquot;Economic Reviewaquot; Ramon P. DeGennaro. Types of ... today can choose from a wide varietyof payment cards, and the universe of cards can be partitioned in several ways. ... When used in online mode, the card is swiped through a terminal equipped to handle a personal identification number (PIN).
|Title||:||Merchant Acquirers and Payment Card Processors: A Look Inside the Black Box|
|Author||:||Ramon P. DeGennaro|
|Publisher||:||DIANE Publishing - 2008-06|