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Step 1 Bank issues and activates a credit card to customer on his/her request.
Card brand company authenticates the credit card and paid the
Step 4
transaction by credit. Merchant keeps the sales slip.
Merchant submits the sales slip to acquirer banks and gets the service
Step 5
chargers paid to him/her.
Acquirer bank requests the card brand company to clear the credit
Step 6
amount and gets the payment.
Now card brand company asks to clear amount from the issuer bank and
Debit Card
Debit card, like credit card is a small plastic card with a
unique number mapped with the bank account number.
It is required to have a bank account before getting a debit
card from the bank.
The major difference between debit card and credit card
is that in case of payment through debit card, amount gets
deducted from card's bank account immediately and
there should be sufficient balance in bank account for the
transaction to get completed.
Whereas in case of credit card there is no such compulsion.
Debit cards free customer to carry cash, cheques and even
merchants accepts debit card more readily.
1. Confidential 4. Authenticity
2. Integrity 5. Encryption
7. Non – Rejection