not only the cardholder data Valuation oberon but also all the monies that are being moved we also have the acquirers this is total merchant services in this equation we sign up the merchant through your assistance
out in the field we’re going to underwrite that merchants risk we’re going to provide authorization capture and settlement and then we’re going to go ahead and provide the merchant months or reports showing all the activity that has taken place and then if the merchant has any issues we’re going to handle any customer service to your two or tech to support so what does an operation authorization or transaction look
like well we see the cardholder she wants to go shopping at her favorite store and that store is working with total merchant services so they have some of our equipment in house so we’re going to grab that transaction we’re going to pass it on to the Association that that card is branded by and they’re going to go back into the issuing bank who gave that consumer that card and say hey well as far good is this this woman have
the hundred dollars available on her card to go ahead and process this transaction they come back with a definite yes or unknown they’re going to pass that yes no back to the Association back to us and back to the merchant we’re going to go ahead and approve or decline that transaction and all these steps take place with just in a manner of about seconds now when the settlement takes place to go through all those hands but at the end of the day we’re going to go ahead and bring the Federal Reserve in because there’s going to be the ones that are going to go ahead and Divya and pay everybody the monies that are owed CC
they’re going to jump in there and a CHS are going to be made to pay everybody off so let’s talk about the history of interchange interchange was initially designed to reduce risk from issuers for bad debt so they could do that you know obviously they charge our parents and when cards were first established