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Institutional Roles in Issuing and Processing Credit Cards


Learn more: www.khanacademy.org The institutions involved in processing your credit credit and how they relate to each other

All the joys of credit! Animated by Geo. ~Visit Fluidanims for more great videos!~ www.fluidanims.com


38 Responses to “Institutional Roles in Issuing and Processing Credit Cards”

  1. SAL — I am surprised at how much you know about a difficult subject. I know you have never sold processing in your life so that was a pretty accurate lesson. One thing that you did miss however was that the bulk of the Discount fee goes to VISA/MC since they set the Interchange rate. 1.51% for VISA and 1.58% for MC is cost. Nice job.

  2. My atm card and credit card are one card. Which is so awesome. I never loose cash, dont have to put debit card number, works wherever credit card would and I cant use money that I don’t have. Its super.

  3. Actually I’m terrible with cash. I use a $20 bill, then lose track of where all my change is. Then I’ll pull out another. So for $100 I might get 5 small items and have no idea how much money I have. Credit cards avoid this problem. So I disagree that you spend less with cash. Plus, it’s more painful to use my credit card because I’ll have to pay it when the bill comes. I find it’s not really that painful to pay cash because it’s done with.

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  5. good music

  6. you dun really understand wt sal is talking about, do u ? only that G store earn less. ( 2 dollar less )

  7. what a perfect you are sal..
    please sal keep teaching and teaching millions of people waiting ..
    what a power you give them …
    please sal we need lesson about greece problem and europe in general…

    thanks

  8. There bills are often sent in PAPER as well as the JUNK AD’s…

  9. Pay with credit cards, you will look cooler and save all the trees.

  10. Pay in cash, you will spend less money and save all fees.

  11. ThatIsNotDeadWhich Reply November 8, 2012 at 3:34 pm

    Not if your information processing laws are sound (and enforced).

    Normally, these communications are rather heavily encrypted. The grocery store would query the network, bank B and bank A for their public keys, and encrypt the data on a “need-to-know” basis.

    In principle, the network only needs to know who to send the message to. In practise, precisely how much the network needs to know depends on their policies and your country’s data security laws (and enforcement thereof).

  12. There is nothing “natural” about interest rate in credit card industry… It’s all games.

    No worries – this ponzi scheme and all the other ones will be over very soon…

  13. How does it work with the information privacy? Do processors get all the information about our bank accounts?

  14. Forgive my ignorance, but why does Visa want to partner with educators to teach us about financial literacy?

  15. That’s not orange though, it’s pink. Sorry, just a trivial correction.

  16. Banks are always the winners. Except for the case where you keep all your money in cash, they control almost everything. And everything has a fee attached to it, while just shifting numbers in a computer network. I gotta start my own bank ;-)

  17. Salzburg?
    I’m in Salzburg, Austria. ;-) Credit cards aren’t that common here. We have other kinds of electronic payment with much lower fees than credit cards.

  18. You know, I was wondering how the heck this system worked just a few days ago!
    Now I know. :)

  19. Sal,
    Thanks for returning to financial issues. I’ve been fascinated by all your videos, tell everyone I know (or who will listen) about the Khan Academy, and was hoping that you’d start a new playlist covering one of my favorite subjects. I’d love to hear your thoughts about the financial crisis in Europe, the current success or failure of the Geithner plan, an analysis of the CA state budget crisis, the stock market ‘typo’ that cause a minor problem a couple of weeks ago, etc.
    Thanks, Chuck

  20. 1:56 Heya’s ya credit caad, chump… sine heeya:

  21. funny anim on my channel lol

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  23. 1:56 HEYA’S YA CREDIT CAAD CHUMP!!!

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  26. OMG
    A credit card!
    I’ve never heard of this and this was before Billy Mays died!

  27. LOL

  28. Billy fuckin Maze everybody

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  30. NarutoANDOnepiece Fan Reply November 9, 2012 at 1:41 am

    R.I.P Billy Mays

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