PPT Slide

Credit Cards

Consumer is issued credit card by issuer (generally a bank or its agent)

Merchant has an account with an ÅgacquiringÅh institution (which allows it to accept credit cards)

Acquiring Institutions: Citicorp, NaBanco, First Data, Bank One, GE Capital, First USA, EDS, Discover, American Express

The processing agent actually generates the authorization and processes the charges:

First Data, Global Payment Systems, VisaNet/Vital, Wells-CES , Nova, Checkfree

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