A(n)____ obtains authorization for the transaction by sending the transaction's details to the interchange network and storing a record of the approval or denial.
A)back-end processor
B)front-end processor
C)ACH
D)issuing bank

Question

Quizplus · Accepted Answer

A front-end processor is responsible for obtaining authorization for transactions by sending the transaction details to the interchange network and storing a record of the approval or denial. Back-end processors are responsible for settlement and ACH is a separate payment system. The issuing bank is the financial institution that provides the card to the consumer and is not directly involved in obtaining the authorization for the transaction.

A(n)____ Obtains Authorization for the Transaction by Sending the Transaction's