Ask Glenbrook: Learning the Basics About Credit Cards
We received the following Ask Glenbrook question earlier today:
"I am wondering what is the best source to explain how credit card transactions work -- i.e. the various steps, the various parties involved, timing of the steps, costs etc. Thank you"
We highly recommend Paying with Plastic : The Digital Revolution in Buying and Borrowing (Second Edition) by David S. Evans, Richard Schmalensee as perhaps the best overview book available on the payment card industry in the United States.
See also the website www.payingwithplastic.org where you can read select chapters from the book, signup for a periodic newsletter and more.
You may also want to review the other books on the Recommended Reading list we post for our Payments Boot Camps. And, of course, our public Payments Boot Camps (or private versions tailored specifically for your organization's objectives) provide an excellent opportunity to go "in depth" into developing your understanding of the industry.
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