Credit Card Processing
/ˈkrɛdɪt kɑrd ˈprɑsɛsɪŋ/
Definitions
- (n.) The handling and authorization of payments made by credit card involving the transfer of funds and verification of the cardholder's identity and credit.
Credit card processing requires compliance with data security standards to protect consumer information.
- (n.) The legal framework governing agreements between merchants, customers, and financial institutions in transactions using credit cards.
Disputes over credit card processing agreements often involve issues of liability for unauthorized charges.
Forms
- credit card processing
Related terms
See also
Commentary
Ensure contracts explicitly allocate liability and compliance responsibilities in credit card processing agreements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.