How Credit Card Companies Make Money | Card Transaction Process Flow

Many people now use credit cards In this video, I explained the entire Credit Card Transaction Process flow and How Credit Card Companies Make Money and other information with detailed examples. How credit card companies make money in telugu Credit Card Transaction Process flow in telugu Credit card companies charge different fees or charges in the following forms from customers • Transaction fee • Late payment fee • Cash withdrawal fee • EMI interest charges • Over limit charges • Annual fee • A credit card issuer is a financial institution that gives you a credit card • A credit card network is a company that provides a communication system between a merchant and an issuer in order to complete a credit card transaction. • A credit card network functions in different ways. If the credit card network is both the network and the card issuer, the network will both process and approve purchase requests. This is how it works for American Express and Discover cards. • If the credit card network is different from the card issuer, the credit card network acts as an intermediary that connects the merchant with the financial institution that issued the card to process and approve credit card transactions. Visa, Mastercard, and Rupay cards work as intermediaries. Thanks for watching it. Please like, share, and comment. Please subscribe to my channel: /c/SagarTalksOfficial Background Music: https://www.bensound.com/ #creditcards #visa #mastercard #rupay #credit #sagartalks

Category