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credit card flow diagram
A great place to find a diagram on the credit card process is on a site called Authorize. Here will will find a great informative diagram as well as other information on the credit card process.
immediate pls -mca student
Application---->Information Verification (Financial Status,Employment Verification, Credit Check)----->Determine Your Annual Percentage Rate and Credit Limit----->Generate Agreement
When you use a credit card to purchase an item, you are interacting with a payment processing system that facilitates the transaction between the merchant and your bank. This system verifies your card details, checks your credit limit, and authorizes the payment. The transaction data is then transmitted securely, allowing the merchant to receive payment while you accumulate charges to your credit account.
There are a few different online websites to visit where you can find a credit card payment system. A few of these online websites include E-commerce credit card system, Intuit Payments, and Square Credit Card Reader.
it scans the card.
A credit card
The data pertaining to a single card - is a record. The data relating to more than one card for the same customer - is a file.
Electromagnets apply a magnetic field to encode data onto the magnetic stripe of a credit card. The magnetic stripe contains tiny magnetic particles that are oriented to represent data. When the card is swiped through a card reader, the electromagnet within the reader changes the orientation of these particles, allowing the data to be read.
Credit cards are an application of smart card.Credit cards are either smart card or magnetic strip card.A smart card is a card which have an IC chip to process the data/ Smart card have the capability to process the data.
Why do credit cards have a magnetic stripe on the back