2023 ETA CPP Study Course questions with complete solutions

The (_______________) is made up of a combination of players that interact with each other during the payment transaction process: issuers and acquirers, credit card networks, payment processors, payment gateways, independent sales organizations and value-added resellers, and payment facilitators. correct answers payments ecosystem The (______________) cycle is complex and has a lot of moving parts. correct answers payment processing How many steps are in the "Authorization" process? correct answers 7 The customer purchases goods or services from the (________) and swipes their credit or debit card through a point-of-sale (POS) terminal or device that (__________) the customer's card information. correct answers Merchant, Captures The customer's card information is transmitted to the merchant's (_______________), who in turn passes the (________________) and transaction amount to the merchant's bank (the acquirer or acquiring bank). correct answers Payment Processor, Card Information Which entities are considered "Acquirer's" or "Acquiring Banks"? correct answers TSYS, Fiserv, and First Data The (____________) captures the transaction and forwards the information to the customer's credit card network (e.g. Visa, Mastercard). correct answers acquiring bank The (________________) then routes the transaction to the cardholder's bank (the issuer, or issuing bank), and requests an approval. The transaction is approved or declined depending on the availa