Figure 32.1 Using Stored-Value Cards

1
Figure 32.1Using Stored-Value Cards
Merchants Bank
Step 4
Operator
Step 3
Step 1
Step 2
Customer
Merchant
Step 1 Cardholder obtains card and stores
value on it. Step 2 Cardholder transfers
transaction data to Merchant and receives goods
or services. Step 3 Merchant sends
transaction data to Operator. Step 4
Operator sends funds to account at Merchant's
Bank. In accountable systems, Operator
deducts funds from Cardholders shadow
balance.