Understand the transaction process and how you fit in.
A transaction is a purchase that begins with a cardholder. The steps outlined below will help you better understand the role of MasterCard Worldwide and the merchant in this transaction process.
The transaction process is a series of purchases, beginning with the cardholder:
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Card Issuing Bank
The cardholder’s financial institution, also a licensed member of MasterCard.
Cardholder
A consumer who is solicited, screened, and approved by the issuer who establishes a line of credit for the customer and issues the bankcard.
Merchant
Virtually any company that wants to accept cards for payment and that meet the qualification standards of MasterCard and an “acquirer.”
Acquirer
A licensed member of MasterCard that screens and accepts merchants into its bankcard program, processes transactions, and completes financial settlement for them.
MasterCard
We license our brand to member financial institutions that in turn provide services to consumers and merchants.
