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Credit Card System Processes Case Study

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Updated: Apr 7th, 2022


Technological innovations have made it easy for a man to live. Technology has made acquiring of goods very quick and easy. From the barter trade system to credit card system that we enjoy at present, it is clear that technology has made it life enjoyable. This essay examines credit card processes nowadays and tries to predicate the future of the credit card system. One of the latest innovations related to credit cards is briefly examined.

Credit Card System


Credit cards are very popular in developed countries. Statistics show that in the United States of America credit cards are extremely popular: As reported for 2008, there were an estimated 176.8 million credit card users in the United States. Estimated 576.4 million credit cards and 507 million debit cards were in the hands of the United States consumers at the end of 2009. (Credit Card Processing 1)

Why it is so popular

So, one may ask, what makes these credit cards to be so popular? The cornerstone of the answer to this question is convenience. As a matter of fact, time is becoming more precious with each passing day. Time waits for no man and there is no minute to waste; anything that will help in saving time is more than welcome.

Credit cards have been revolutionary in time management. Online shopping has become a current trend whereby products can be sold and bought at any time from all over the world. Both customers and sellers are comfortable with the credit card system. For the sellers it credit cards make the “business more efficient, more cost effective, and more profitable” (Credit Card processing 1).

The process of acquiring a credit card is very easy for individual users. Businesses need to set up merchant accounts which equally do not take longer. With the merchant accounts, money can be deposited into the business accounts at any time in different places. Credit card processing ensures that the retailing business goes on 24 hours without stopping for the online retailers. To the advantage of the sellers, customers transacting using credit cards are more likely to make more sales compared to when they use cash.

The Future if Credit Cards

One of the latest innovations in the payment space is the use of square. Suchman described it as a “well-funded startup allows anyone with an iPhone to take credit cards for surprisingly modest fees (2.75% for swiped cards, 3.5% + 15¢ for keyed in cards) with, get this, no setup fees, no annual fees, and no hidden fees” (Suchman 1). The innovation sounds great and very convenient for users. Though some users have viewed it as disruptive when it is really not disruptive at all.

With the wave of globalization continually sweeping the Earth, credit cards have a bright future. The credit cards make transacting of business very convenient. With the rising popularity of online retailers, credit cards will become the most popular way of payment.


Credit card processing is a convenient way of making purchases. With the rising popularity of online retailers, credit cards have become the best way of making payments. Credit cards are quite convenient as one can make purchases online anytime and anywhere. It is easy to process credit cards for individuals and businesses. Such innovations as square make credit cards the most popular and comfortable way of purchasing.

Works Cited

Credit Card Processing. Check out how much you can be saving. Credit Cards processing Companies, 2011. Web.

Suchman, Tuchman. Square Review: Simple, Stunning and Disruptive. Tribal Core, 2011. Web. <>

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"Credit Card System Processes." IvyPanda, 7 Apr. 2022, ivypanda.com/essays/credit-card-system/.

1. IvyPanda. "Credit Card System Processes." April 7, 2022. https://ivypanda.com/essays/credit-card-system/.


IvyPanda. "Credit Card System Processes." April 7, 2022. https://ivypanda.com/essays/credit-card-system/.


IvyPanda. 2022. "Credit Card System Processes." April 7, 2022. https://ivypanda.com/essays/credit-card-system/.


IvyPanda. (2022) 'Credit Card System Processes'. 7 April.

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