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Tag Archive: Networks

January 16, 2019

A Credit Card Processing Glossary

You might hear terms like “issuing banks” or “acquiring banks” or abbreviations like “ISO” that all sound foreign to you. This simple glossary defines the role of each player in a transaction. We will begin by defining your role in the process.  The Merchant The merchant is the business owner or establishment that accepts credit, debit, and prepaid cards. The business owner uses a POS (point-of-sale) system or credit card terminal to accept the form of payment presented by the customer. The merchants independently decide which type of credit cards they will accept and which credit card processor they will...Read more