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How do credit card transactions actually process?
To process a credit card transaction the merchant sends the authorization request to First Data Merchant Services. FDMS then sends the card and purchaser information to the issuing bank, if everything checks out and the cardholder has the balance on the card then the approval is sent back to the merchant.
How do I find a merchant by their merchant number?
Is it shown on your bank or credit card statements,
What banks offer merchant credit card accounts?
There are several banks that offer merchant credit card accounts. These banks include TD Bank, PNC Bank, Merchants Bank, Bluepay, and Bank of America.
What is the point of merchant card processing?
Merchant card processing is necessary for a business to accept payment by credit card. Specifically, it allows a business to be reimbursed by a bank. When you pay your credit card bill, the bank gets its money back.
How do you find your credit card's issuing bank?
It should be right on the card. If it isn't it will be in the paperwork you received when they issued you the card.
What is a credit card number?
A credit card number is a unique representation of a network (credit card network), a bank (issuing bank) and an account number (specific to account holder) combined to represent a unique representation for an individual with credit.
Is bank account is compulsory for obtaining a credit card?
Maintenance of an account in the bank which has issued the card is not a pre requisite for applying for a credit card. Having an account with the card issuing bank is essential for debit cards. Nandkishore Sharma
Who disputes and disseminates credit card statements and investigates all amounts disputed by the cardholder?
Card-Issuing Bank
Who produces and disseminates credit card statements and investigates all amounts disputed by the cardholder?
Card-Issuing Bank
How can the facility of credit cards be obtained?
You can contact any credit card issuing bank with a valid address, identity and income proof and request for issue of a credit card. If you do not have a credit history, the bank may give you a secure credit card which will be linked to a deposit account.
Does PayPal give your credit card number to the merchant when you use your credit card rather than your bank account for a purchase?
No, Paypal does not give your credit card number to the merchant when you use your credit card rather than your bank account for a purchase.The merchant only gets a notification the payment was successful.If you setup a recurring payment through paypal, the merchant will be able to charge you regularly through paypal without you initiating additional payments.http://paymenttransactionsystems.comhttp://merchantpos.net
What happens when you close a credit card with a balance?
You cannot close it until you settle all your dues to the card issuing bank.
