Tag: mainframe

BT is transferring the current balance of one credit card to another credit card where the transferring to bank will provide some benefits

BT is the process of checking the availability of sufficient funds available to cover the amount of transaction

BT is the process of sharing the revenue between different financial institutions

BT is the process of transferring balance in an account to another account where transferring bank will provide some benefits

Collections is a separate department/agency where the bad debts will be collected from the customer, if he does not pay the due amount for a certain period

Collections is the process paying the bills automatically every month through the customers saving’s account

Collections are a type of fee which is charged annually.

Collections is an offer provided by the issuer to the customer.

Bank cards are issued to big organizations and corporations’ .Retails cards are issued to employees for travel and entertainment.

Bank cards are means of obtaining short term loan for a purchase. Retail cards are financial instruments with some stored value.

Bank Cards are issued by the banks eg: ICICI Credit Cards. Retail cards are issued by the Non-banks or private shopping malls eg: Private label cards

Bank Cards and Retails cards are issued by the banks eg: ICICI Credit Cards

It is a payment scheme like American Express.

It is a network through which the authorization takes place. Eg: Mastercard, Visa, Amex, etc.,

It is a financial service which helps card holders to make payment for services or products to obtain cash eg: credit cards, debit cards etc

It is a payment system which facilitates to pay and keep track of expenses.eg: Charge Cards

One who buys and owns the credit card.

One (Bank/Institution) who issues the credit card.

One who has approving authority for credit card.

One who is being charged the fees of credit card.

One who issues the POS machines to the merchant

One who buys and owns the credit card

One who has approving authority for credit card

One who is being charged the fees of credit card

Point of Sale equipment

Process to get the response for any transaction

Equipment though which the customer makes the sale transactions

Both a and c

Issuer & Acquirer are different.

Issuer & Acquirer are same.

Issuer is tied up with any social service group

None of the above.

Issuer & Acquirer are different.

Issuer & Acquirer are same.

Issuer, Acquirer and Network are different.

None of the above.

The process to get the response for any transaction is called Authorization.

The process of verifying the card by merchant is called Authorization.

The process of verifying the signature of the customer on the card is called Authorization.

All of the above.