How Credit Card Transactions Work

On a post a while back at my personal blog, i highlighted an interesting movie i watched…Are you familiar with what happens when you swipe your card?

And on that note as well, MasterCard has just released a white paper regarding Interchange, entitled “Benefits of Open Payment Systems and the Role of Interchange” [.pdf] and available through their Interchange Portal [Visa .pdf and Interchange Portal].

(ps. not saying anything for or against Interchange Fees)