
Understanding Credit Card Networks

Interactive Video
•
Business
•
9th - 12th Grade
•
Hard

Ethan Morris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an example of a credit card network?
American Express
PayPal
Mastercard
Visa
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary reason a bank might want to issue a credit card?
To increase customer savings
To extend credit and earn interest
To avoid network policies
To reduce bank fees
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of an acquiring bank in the credit card network?
To set interchange fees
To issue credit cards to customers
To maintain the credit card network
To enable merchants to accept credit cards
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in the credit card transaction process at a store?
Settlement
Authorization
Interchange
Discounting
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who checks if a credit card is valid for a transaction?
The network operator
The issuing bank
The acquiring bank
The merchant
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of a transaction does the network operator typically earn?
1%
2%
5%
0.1%
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the fee that the issuing bank receives from a transaction?
Authorization fee
Interchange fee
Network fee
Discount rate
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