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My Personal Guide to Credit Card Processing

Jul 3, 2008
It comes as no surprise how all these credit cards have miraculously found their ways into our lives (and our wallet). They have slowly but surely turned into becoming a necessity (rather than luxury). You can find the necessary processing machines in almost all the shops you visit today. With the advent of internet, online card processing has become very popular too. 'Credit card processing' as such is a really interesting topic. This article will try to put into perspective the people, systems and the equipment that go into card processing.

First, let's take a look at the equipments used for credit card processing. So, there are processing software's for online the card processing, there are the processing machines (i.e. the reading machines at shops), there are data verification/validation devices/software's that verify the security information on the cards, there are communication devices/systems that enable safe transfer of your credit card information from one point to another, and then there are other processing equipments like the processing equipment that is used for the preparation of the actual plastic (credit card).

Then there are various service providers that provide services related to the card processing. There are suppliers for card processing equipment and suppliers for online credit card processing services. Then there are postal and courier service that help deliver card bills in time. There are merchants/petrol-bunks etc which provide facility of payment collection boxes at their premises (another important aspect of card processing).

Besides that there are complete systems for processing credit card applications, there are systems for credit bill processing/generation, there are people at call centres who help in addressing the queries from credit card holders and, very importantly, there are people (sales representatives) who help you in filling the credit card application forms.

Another important entity with regards to 'credit card processing' process is the credit rating bureaus. Bureaus maintain a database of credit ratings for individuals and businesses. This rating is based on the data received from various credit providers over a period of time. This rating is the most important part of credit card application processing and a bad rating could possibly lead to rejection of the application altogether.

Thus, card processing involves a wholly coordinated effort from a lot of professionals and service providers. In that sense, we can also say that credit card processing is pretty much an industry in itself that are literally generated thousands of jobs for those seeking employment.
About the Author
Uchenna Ani-Okoye is an internet marketing advisor and co founder of Free Affiliate Programs

For more information and resource links on credit visit: Free Credit Counseling
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