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Question
After a credit card transaction has been authorized by the issuing bank by sending an authorization code to the merchant, the settlement stage of the process begins. Which of the following is a system type used to process such statements?
After a credit card transaction has been authorized by the issuing bank by sending an authorization code to the merchant, the settlement stage of the process begins. Which of the following is a system type used to process such statements?
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Solution
The correct option is D Batch Processing
After a credit card transaction has been authorized by the issuing bank by sending an authorization code to the merchant, the settlement stage of the process begins. This is called batch processing because a number (or batch) of transactions is settled all at one time.
After a credit card transaction has been authorized by the issuing bank by sending an authorization code to the merchant, the settlement stage of the process begins. This is called batch processing because a number (or batch) of transactions is settled all at one time.
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