Question

What role does a credit network such as Visa, MasterCard, Discover, or American Express play in your credit card purchase?

They maintain the network over which the retailer communicates with the issuer of the credit card.
They maintain the network over which the retailer communicates with the issuer of the credit card.

They issue the credit card.
They issue the credit card.

They set the price of the item you are purchasing.
They set the price of the item you are purchasing.

They maintain the network over which the retailer checks to make sure you have enough money in your account to cover the purchase.

Answer 1

[AI-generated answer — Bot GPT 3.5]

They maintain the network over which the transaction is processed and authorized, ensuring the security and validity of the transaction. They also handle the transfer of funds between the issuing bank and the retailer. Additionally, they may offer rewards or benefits to cardholders for using their credit cards.