Payments News

Paying with a credit card is as simple as swiping or tapping, but a lot happens behind the scenes

Jul 16, 2020

Over the past 50 or so years that they've existed, credit cards have transformed from a niche form of payment into something completely ubiquitous. 

While most people are quite familiar with how to pay with a credit card, the behind-the-scenes details of how credit cards work aren't quite public knowledge. 

How do credit cards work?
From a consumer's perspective, using a credit card is very straightforward; you swipe (or tap) it at any merchant that accepts it, and then walk away with your merchandise. Your credit card company pays the merchant, and you pay the credit card company when the charge appears on your statement.

By Dan Miller 

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