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The World of payments part 3: Understanding your Debit card transactions Welcome back. In my previous post, I discussed how credit card transactions work , detailing how they function as a line of credit and the various steps involved in their processing. Today, I am shifting focus to the essential world of debit cards, a payment method that directly links to your bank account and plays a crucial role in our daily financial lives. I will discuss the specifics of how debit card transactions work, contrasting them with credit cards and highlighting their unique advantages and considerations. This exploration will provide some understanding of debit cards, so that you can make informed decisions about your payment methods and your money. Debit Cards has direct link to your funds Unlike credit cards, which extend a line of credit, debit cards provide immediate and direct access to the funds residing in your checking account. This fundamental distinction profound...

The World of Payments: Understanding Your Credit Card Transaction The World of Payments: Understanding Your Credit Card Transaction Did you ever wonder what really happens when you pay with your credit card? It seems so quick and easy – swipe, tap, done. But there is actually a whole lot going on behind the scenes. We rarely stop to think about it, but these transactions are pretty complex, involving several different players and a sophisticated exchange of information. So, pull back the curtain and take a look at what happens from the moment you present your card to the moment the charge shows up on your statement. In this post, I will walk you through each step, explaining it so you can understand exactly how these transactions work and appreciate the technology that makes them possible. It's more interesting than you might think!. 1. Authorization Request: The Starting Point When you present your credit card to the mer...

The World of Payments: What you should know! This section is dedicated to all things payments! From the basics of how a credit card transaction works to the landscapes of cross-border payments, we will discuss the world of finance that makes modern commerce possible. As someone working in the payments industry, I am happy to share my knowledge and insights, helping you navigate the sometimes complex landscape of digital transactions. Whether you want to know what happend in the payment world, consumer looking to understand your payment options or a business owner seeking to optimize payment processes, you will find valuable information here. I will discuss and share my knowledge on topics like mobile payments, digital wallets, payment security, payment transactions and the future of finance. So, join me as we walk the mysteries of payments, one transaction at a time! ...