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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.
Credit cards are a staple in the wallets of consumers today, and they will undoubtedly be a payment method of choice for years to come, particularly as the adoption of mobile and contactlesspayments continues to grow. In fact, ResearchAndMarkets.com forecasts the global credit cardpayment market to grow to $762.16
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