i want only how credit card process is done
2006-09-08 21:12:19 · 3 answers · asked by nidhi_1886 1 in Business & Finance ➔ Credit
credit cards have a strip of magnet behind them which stores necessary info. to get it connected to the bank's computer when it is swapped on a credit card machine and is then punched a figure of whatever you purchase by the merchant. And you have a slip of credit purchase you make.
So, credit card statement is then sent to you for such purchases you make in a period of time.
2006-09-08 21:23:09 · answer #1 · answered by Mani G.India 4 · 0⤊ 0⤋
When u r buying some thing and issue credit card to the seller and he scratch it and gives u slip and tell u to sign on it and he matches the sign. then further scratches it and gives u receipt. and payments is done.
then company send u bill it includes Total Amt. of Purchase and their Service Chgs+Intrest and u have to issue cheque against the same
2006-09-09 04:24:54 · answer #2 · answered by Indian 2 · 0⤊ 0⤋
dont know
2006-09-09 07:15:57 · answer #3 · answered by rajan naidu 7 · 0⤊ 0⤋