The traditional shopping methods have been been vanished gradually with the arrival of credit cards. In this article we'll look at the credit card -- how it works both financially and technically -- and we'll offer knowledge on mechanism behind a credit card.
The process of purchasing and payments via credit cards involves many stages. After the customer making a purchase using a credit card, the merchant submits the transaction. Then the payment gateway sends off the secure transaction to the processor.
The processor plays a vital role in the transactions. It sends approval or decline of payments to the gateways. The approved transactions are sent back to the website and merchant resulting in money deposit in the merchants’ account.