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When you use a credit card, the following details get checked:
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Credit card transactions are usually handled through an intermediary, called an "acquirer". When you pay for something using your card, the shop sends a request to the acquirer. The acquirer checks your details against the bank's database and then provides a guarantee to the shop that they will be paid. This process is usually automatic, and completely finished before you get your receipt. It is also possible to make these checks over the phone (which a few shops still do) or over the Internet (which a growing number of shops do). |
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