Credit cards are essential to business by providing a reliable payment system to the participating merchants. Guaranteed payments move the payment risk and need to qualify customer risk from the business to a financial institution.
Credit cards have been critical to the development of internet commerce with almost all www transactions paid by credit card.
A wide variety of types of cards, parties, programs, rules and fees are designed to satisfy a host of individual and business customer requirements with the numbers supporting their importance:
The card services industry integrates a variety of parties and technology:
Card processing involves a series of steps involving these parties:
The Card Services industry model set consists of Enterprise, Business Area, and Data Warehouse logical data models supporting the integrated data requirements of both parties and transaction processing:
|Customer||Payments & Fees|