March 25, 2013 AT 3:20 pm

What You Need to Know About Credit Card Processing

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What You Need to Know About Credit Card Processing @ NYTimes.com.

I soon learned that there are four parties involved with every credit card transaction: the merchant receiving the payment (“merchant”), the bank that the merchant uses to provide processing services (“acquiring bank”), the bank that issued the card to the customer (“issuing bank”) and the customer (“customer”).

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