A(n)____ is a set of connections between banks that issue credit cards, the associations that own the credit cards (such as MasterCard or Visa), and merchants' banks.
A)transaction network
B)e-money network
C)interchange network
D)closed loop system

Question

Quizplus · Accepted Answer

An interchange network is a set of connections between banks that issue credit cards, the associations that own the credit cards (such as MasterCard or Visa), and merchants' banks. It manages the flow of transaction data and funds between these parties, including determining the appropriate interchange fee to be paid by the merchant to the issuing bank.

A(n)____ Is a Set of Connections Between Banks That Issue