Cryptocurrency Q&A
What is a TXN for a credit card?
What is a TXN for a credit card?
Maria
Sat Aug 31 2024
|
7 answers
1624
Excuse me, could you please elaborate on what a TXN stands for in the context of a credit card transaction? I'm not entirely familiar with the term and I'm curious to know if it refers to a specific type of transaction, a code, or perhaps something else entirely. Any clarification you could provide would be greatly appreciated. Thank you.
7 answers
Giulia
Mon Sep 02 2024
A credit card transaction is a fundamental aspect of modern commerce, enabling cardholders to make purchases without the need for immediate cash.
Was this helpful?
214
42
Bianca
Mon Sep 02 2024
This process involves the cardholder presenting their credit card to a merchant as a means of payment.
Was this helpful?
272
65
TaegeukChampionCourageousHeartWarrior
Mon Sep 02 2024
The merchant then verifies the card's validity and checks for sufficient credit limits to cover the transaction amount.
Was this helpful?
42
39
CryptoEmpireGuard
Sun Sep 01 2024
Upon approval, the merchant sends the transaction details to their acquiring bank, which processes the payment.
Was this helpful?
55
38
Riccardo
Sun Sep 01 2024
The acquiring bank then forwards the transaction to the cardholder's issuing bank for authorization and settlement.
Was this helpful?
399
69
Load 5 more related questions
