Clearing houses  

Posted by the Writer

Always wondered how your credit card transaction is processed the moment you swipe your card? Check out ach payment at ThePaymentsAuthority.org. ACH means automatic clearing house. These houses are basically match makers, if you will. They match the transactions you make with your card from one bank to another bank, which is where the retailer's (who you've just bought something from) bank account is with. That's also what VISA and MasterCard are, clearing houses! (They're not credit card companies!)

0 comments

Post a Comment