Understanding Credit Card Processing Fees for Merchants: How Much Does Processing Credit Cards Cost?
Stax
APRIL 18, 2024
The merchant’s point-of-sale (POS) system sends an authorization request to the acquiring bank (also known as the merchant bank) via a payment gateway. This request contains crucial information such as the card number, transaction amount, and merchant details. which then routes it to the cardholder’s issuing bank.
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