When you go to the shops and tap your card on a card reader to buy some groceries, some clothes, or anything, what happens? Well for you, you tap your card, wait a few seconds, then the machine says ‘transaction approved’. You then take your goods, forget about it and get on with your life. But in those few seconds that it takes to approve a transaction a lot of things happen, between many different parties.

This video explains the three steps to card payments - Authorisation, Authentication, and Settlement.

#payments #finance #cardpayments #business