Maksekaardivõrgustik

Maksekaardivõrgustik refers to the interconnected systems that enable the processing of transactions made with payment cards. This network is crucial for the functioning of modern commerce, allowing consumers to make purchases electronically and merchants to accept these payments. It involves a complex interplay between various entities, including cardholders, merchants, acquiring banks, issuing banks, and payment networks.

When a customer uses a payment card, the merchant's point-of-sale terminal or online gateway initiates a request. This request travels through the acquiring bank, which is the financial institution that provides payment processing services to the merchant. The acquiring bank then routes the transaction data to the relevant payment network, such as Visa or Mastercard. The payment network identifies the issuing bank, which is the financial institution that issued the card to the customer.

The issuing bank verifies the cardholder's account, checks for sufficient funds or credit limit, and authorizes or declines the transaction. This authorization response travels back through the payment network, the acquiring bank, and finally to the merchant's terminal, indicating whether the transaction can proceed. The entire process typically takes only a few seconds. Beyond authorization, the maksekaardivõrgustik also facilitates the settlement of funds between the issuing and acquiring banks, ensuring that the merchant eventually receives the payment for the goods or services provided. Security protocols and fraud detection mechanisms are integral components of these networks to protect all parties involved.