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The Payment Card Process


When a payment happens using a payment card (debit/credit) a verification process happens at the background which will decide whether to approve or reject the transacation. When a customer pays for products or services with a credit card, the card information is recorded.either by manual entry, a card imprinter, point-of-sale (POS) terminal, or virtual terminal.and then verified so that the merchant can receive payment for the transaction.

This process involves the following parties:

  • Cardholder: the owner of the card used to make a purchase
  • Merchant: the business accepting credit card payments for products or services sold to the cardholder
  • Acquirer: the financial institution or other organization that provides card processing services to the merchant
  • Card association: a network such as VISA

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