Q. Steps performed in the credit card processing system.?
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Steps performed in the credit card processing system.?

The following steps are performed in the credit Card Processing System:
• Authorization process. In online credit card processing system. The first step is the authorization process. That verifies the identity of the customer and helps in avoiding fraud issues.
• Settlement Process. The second step in the online credit card processing system is the settlement process that happens after the approval of the transaction. When the bank authorizes a transaction, the merchant can perform a sale. But, the merchant receives the funds only after the settlement.


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Mar, 2022

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