The diagram below illustrates the process of payment by credit card. Summarize the information by selecting and reporting the main features, and make comparisons where relevant. Write at least 150 words.

The diagram illustrates the process of making a payment by credit card, involving several parties including the consumer, the merchant, the issuing bank, the merchant’s bank, and the credit card organization. Overall, the process consists of multiple stages, beginning with the consumer making a purchase and ending with the merchant receiving payment. It involves authorization, […]

The diagram shows how a credit card payment is processed. Overall, the process has seven steps and involves the consumer, the merchant, the credit card company, and the banks. It starts when the consumer pays and ends when the merchant receives the money. First, the consumer pays for a product using a credit card. The […]

The diagram illustrates how a payment is processed using a credit card. Overall, the process consists of seven main stages and involves four key participants: the consumer, the merchant, the credit card organisation, and both the consumer’s and merchant’s banks. It begins with a card payment made by the customer and ends with the merchant […]

The given diagram depicts how payment by credit card works. Overall, the process contains seven stages, starting with the payment by a consumer using a card and culminating with the payment to a merchant. First of all, the consumer makes the payment to further get a willing product. Subsequently, the merchant requests authorisation via a […]