Overview#The Merchant, or SP is offering goods or services that you (the customer) want to buy.
Merchant is one member of the The Four-Party Credit Card System
- Capture card data from the Credit Card
- Initiate and authorize the purchase transaction through the Payment Network.
- Verify Cardholder identity.
- Capture the transaction for onward submission to the merchant Acquirer.
- Pay a fee called the Merchant Service Commission ([MSC) to the merchant Acquirer.
More Information#There might be more information for this subject on one of the following:
- Acquiring Processor
- Apple Pay
- Back-End Processors
- Card Issuer
- Card Processor
- Cardholder Verification Method
- Contactless Payments
- EMV Liability Shift
- EMV Terms
- Four-Party Credit Card System
- Front-End Processors
- Google Wallet
- Google Wallet vs Apple Pay
- Host Card Emulation
- IDM Related Compliance Items
- Payment Card Verification
- Privacy Enhancing Technologies
- Samsung Pay
- Token Service Provider
- Trusted Service Manager
- [#1] - Developing and Managing a Successful Payment Cards Business - based on data observed:2015-05-18
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