Basic HTML version of Foils prepared July 6 99

Foil 33 Traditional Credit Card Transaction (2)

From Security Infrastructure fo Electronic Commerce and Internet CPS714 Computational Science Information Track -- June 2 and June 7 99. by Roman Markowski
Transaction types
  • (1) immediate sales transaction:
    • authorization and fund capture are immediate, and settlement occurs between authorizing (client) and acquiring (merchant) banks at a later time
  • (2) book-and-ship transaction:
    • authorization (merchant - client's bank)
    • draft capture between merchant and consumer
    • settlement between the issuing and acquiring banks

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