Traditional Credit Card Transaction (3)

• in the real world:
  • the card owner comes to a supermarket, gives his credit card and signs a receipt in the presence of a merchant
  • the card reader calls the bank twice: once for the individual authorization and then again at the end of the day for settlement and accounting.

Card Holder

(owner of the card)

Card Processing

Network

(verifone reader

in supermarket)

Issuing bank

(represents a client)

Acquiring bank

(represents a merchent)

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