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The credit card transaction process in not intuitive, it is therefore helpful for small businesses to understanding what parties are involved in a card transaction and how it works.

Who Are the Parties Involved

The acquiring bank (otherwise known as the merchant account provider) is an institution that is required for a merchant to be able to accept card payments.

The card issuing bank is the bank that is employed by the customer to be able to purchase services or product with a credit card.

Credit Card Transaction Process (more…)