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Here are the inside details about what defines a payment solutions provider, how processing works, the credit card processing fees , risks, and more. TL;DR There are several parties involved in credit card processing. They include: the merchant, cardholder, cardassociations, acquiring bank, issuing bank, and payment processor.
Batch A group of transactions that are processed together at the end of a businessday. BIN Sponsorship A service provided by payment processors that enables merchants to accept payment cards from multiple card issuers. C CardAssociation A network of financial institutions that oversee payment card transactions.
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