Credit Card Transaction Processing and Security

1. Cardholder. Cardholder is an authorized user of a credit or debit card.
2. Card issuer. Card issuers are financial institutions that are members of Visa and MasterCard, which issue payment cards on behalf of the two Credit Card Associations and contract with their cardholders for the terms of the repayment of transactions.
3. Acquiring bank. Acquiring banks (also called acquirers, processing banks or merchant banks) are financial institutions, members of Visa and MasterCard, that contract with merchants to enable them to accept debit and credit card payments for their products and services. They can also, and that is the case most of the time, contract with third parties to provide some of these services.
4. Payment processor. Payment processor is an organization that has contracted with an acquiring bank to provide merchants with card payment processing services on behalf of the acquirer. Payment processors must be registered with Visa and MasterCard and must identify on all of their marketing materials, including their websites, the name of their bank partner.
5. Merchant. Merchant is a business or a non-profit organization that has contracted with an acquiring bank or a merchant processor to accept card payments.
6. Credit Card Associations. The Credit Card Associations of Visa and MasterCard are member-owned associations of banks that govern the issuing of Visa and MasterCard cards and the acquiring of Visa and MasterCard card transactions. Both organizations have developed payment systems to facilitate the processing of transactions between member banks.
7. Service provider. A service provider can be any third party that provides a service used in the card payment transaction process: point-of-sale (POS) terminals, payment gateways, web hosting, SSL certificates, shopping carts, etc.

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Login Security for Credit Card

Fraud and identity theft are not only a risk to your privacy, but a risk to your finances, so knowing what to look for can help prevent you from becoming a victim.
Fraudsters use ‘phishing’ or ‘spoofing’ tactics to get sensitive information from you. The deception usually involves a counterfeit website or email which looks similar to one you’d normally trust. Information you give on a phishing site could be used by criminals to access your account or use your identity fraudulently.

Login Userid and Password
After entering your username, you’ll be presented with the SiteKey™ image and phrase you selected when setting up your Online Card Services account - giving you reassurance that it’s really us.
SiteKey™ adds another layer of security, helping to prevent unauthorized access to your account and protecting your information from those who would use your identity for fraudulent purposes.
Address of Website
The address used by a counterfeit site may be very similar to our genuine website addresses. Look closely for spelling differences or the use of symbols, e.g. www.xyz.com, www.pqr@xyz.com or www.verify-xyz.com.
Hidden addresses - rest your cursor over a link in an email (but don't click on it) and a box will pop up showing you the link destination - do you recognize it as a legitimate address? If not it could suggest that the sender has something to hide.
credit crard Security

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