Credit card transaction

Credit card transaction,

Definition of Credit card transaction:

  1. The use of credit card by consumer to purchase goods or services. The purchase price of goods or services is sent through a processor for authorization; if the amount is approved it is automatically submitted to the seller. The amount is listed on the consumers credit card statement and must be repaid. A transaction may also refer to a credit made to the consumers credit card account, such as when a good or service is returned for a refund.

Meaning of Credit card transaction & Credit card transaction Definition