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    Process Flow Card Transaction

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    ssrisa
    The cardholder makes a purchase from a merchant using a credit or debit card. The merchant's bank sends the cardholder's information to their bank for authentication. The corresponding credit card network conducts security checks and sends the purchase information to be validated. Once validated, the merchant receives approval, the purchase is added to the cardholder's statement, and the merchant is paid for the transaction.

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    Attribution Non-Commercial (BY-NC)
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    Process Flow Card Transaction

    Uploaded by

    ssrisa
    18 views1 page
    The cardholder makes a purchase from a merchant using a credit or debit card. The merchant's bank sends the cardholder's information to their bank for authentication. The corresponding credit card network conducts security checks and sends the purchase information to be validated. Once validated, the merchant receives approval, the purchase is added to the cardholder's statement, and the merchant is paid for the transaction.

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    The cardholder makes a purchase from a merchant using a credit or debit card. The merchant's bank sends the cardholder's information to their bank for authentication. The corresponding credit card network conducts security checks and sends the purchase information to be validated. Once validated, the merchant receives approval, the purchase is added to the cardholder's statement, and the merchant is paid for the transaction.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views1 page

    Process Flow Card Transaction

    Uploaded by

    ssrisa
    The cardholder makes a purchase from a merchant using a credit or debit card. The merchant's bank sends the cardholder's information to their bank for authentication. The corresponding credit card network conducts security checks and sends the purchase information to be validated. Once validated, the merchant receives approval, the purchase is added to the cardholder's statement, and the merchant is paid for the transaction.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Credit/Debit Card Transaction Processing Flow

    The cardholder will purchase a good or service from a merchant or department in person or by phone, mail, fax, or Internet.

    The merchants bank will send the cardholders information to the cardholders bank for authentication.

    The corresponding credit card authorization system (Visa, MasterCard, Discover, and American Express) will conduct the necessary security checks.

    For clearing purposes, and to validate the information, the merchants bank will send the purchase information to the credit card carrier clearing system. This process may take 1-2 business days.

    The merchant will complete the transaction and issue a receipt to the cardholder.

    The merchants bank will send an approval to the merchant.

    The credit card clearing system will validate the information and send the purchase information to the cardholders bank, which will prepare the data for the cardholders statement.

    As soon as the purchase information clears the settlement process, which may take 2-3 business days, the credit card company will notify the merchants bank and the cardholders bank.

    The merchants bank will pay the merchant for the transaction and the cardholders bank will bill the cardholder for the purchase amount.

    University of Illinois Office of Business and Financial Services Treasury Operations Merchant Card Services

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