First, let’s check the equipments used for processing. So, there are processing softwares for online processing, there are processing machines (i.e. the reading machines at shops), there are data verification/validation devices/softwares that verify the security information on credit cards, there are communication devices/systems that enable safe transfer of information from one point to another, and then there are other processing equipments like the processing equipment that is used for the preparation of the actual plastic (credit card).
Then there are various service providers that provide services related to processing. There are suppliers for processing equipment and suppliers for online processing services. Then there are postal and courier service that help deliver bills in time. There are merchants/petrol-bunks etc which provide facility of payment collection boxes at their premises (another important aspect of processing).
Besides that there are complete systems for processing applications, there are systems for bill processing/generation, there are people at call centres who help in addressing the queries from holders and, very importantly, there are people (sales representatives) who help you in filling the application forms. Another important entity with regards to ‘credit card processing’ process is the credit rating bureaus. bureaus maintain a database of credit ratings for individuals and businesses. This rating is based on the data received from various credit providers over a period of time. This rating is the most important part of application processing and a bad rating can lead to rejection of the application altogether.
Thus, processing involves a coordinated effort from a lot of professionals and service providers. In that sense, we can also say that processing is an industry in itself that has generated a lot of employment.
