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The Lifecycle of a Payment

THE LIFECYCLE OF A PAYMENT See what happens behind the scenes when an electronic payment is made. THE PLAYERS THE BUSINESS THE PROCESSOR A provider of products or services A third party responsible for organizing transactions XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CARD BRANDS CARD ISSUERS A bank, credit union or institution that stores money Visa®, MasterCard®, etc. TRANSACTION PROCESS DID YOU KNOW? There are 2.5 POS terminals for every 100 adults in the U.S 2.5 for every The customer gives a card to a business to pay for a product or service. There are around 180 million credit cards in the U.S. XXXX XXXX XXXX 18ОMM The business initiates the transaction by swiping the card. Visa alone has over 3700 credit card Payment Processors 3700 XXXX XXXX XXXX The transaction request is sent to the business' payment processor. XXXX XXXX XXXX The average credit card purchase is $87 $87.00 The processor sends the transaction to the appropriate credit card brand. MasterCard handles around 51 million financial transactions each day XXXX XXXX XXXX The card brand sends the transaction 51 MM to the card issuer. The largest Card Issuer in the world by purchase volume is American Express® XXXX XXXX XXXX The card issuer approves or declines the transaction based on available funds... then the information is sent back to the business. MERCURY Visa", Mastercard" and American Express" are registered or unregistered marks belonging to their respective owners who are unaffiliated with and do not endorse or sponsor Mercury Payment Systems, LLC. Sources: creditcards.com/credit-card-news/assets/HowACreditCardisProcessed.pdf gatewaytraining.elavon.com/ProtoBase/PrintableDocuments/PrintableDocumentsFiles/CC101.pdf databank.worldbank.org/data/views/reports/tableview.aspx cardhub.com/edu/market-share-by-credit-card-network/ marketwatch.com/story/us-2013-credit-and-debit-card-purchases-increased-8-over-2012-2014-02-18 visual.ly/2012-us-credit-card-usage-statistics lowcards.com/dummies-guide-to-credit/credit-card-statistics mastercard.com/us/company/en/docs/092408MasterCardFAQ.pdf XXXX XX

The Lifecycle of a Payment

shared by MercuryPayments on Jun 13
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We're all accustomed to making both in-store and online transactions, but do we really know the back-end processes it takes to process a payment? The split-second that it takes to complete a transacti...

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Mercury

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Business
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