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How Credit Cards Work: Neha Gaur Sec-'D' (ECE) B.tech (3rd Sem) Roll - No.-32
How Credit Cards Work: Neha Gaur Sec-'D' (ECE) B.tech (3rd Sem) Roll - No.-32
How Credit Cards Work: Neha Gaur Sec-'D' (ECE) B.tech (3rd Sem) Roll - No.-32
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The first digit in your credit-card number signifies The type of the card (Amex- 3, Visa 4, MasterCard 5 , Discover 6) American Express - Digits three and four are type and currency, digits five through 11 are the account number, digits 12 through 14 are the card number within the account and digit 15 is a check digit.
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Visa - Digits two through six are the bank number, digits seven through 12 or seven through 15 are the account number and digit 13 or 16 is a check digit.
MasterCard - Digits two and three, two through four, two through five or two through six are the bank number (depending on whether digit two is a 1, 2, 3 or other). The digits after the bank number up through digit 15 are the account number, and digit 16 is a check digit.
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System
Number
Bank
Number
Account
Number
Check
Digit
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Account Number, Account Holder Name, Pin, Country Code and Currency etc.
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Payment
Processor
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The Visa and MasterCard organizations are funded by membership dues and fees paid by the banks that make up the organizations. The banks themselves have two main sources of revenue from credit-card transactions. Interchange Fee Interest on purchases and cash transactions/Membership fee charged to the customer
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THANKYOU
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