Detail
The issuing bank assumes primary liability for the consumer's capacity to pay off debts they incur with their card.
In the case of credit cards, the issuing bank extends a line of credit to the consumer. Liability for non-payment is then shared by the issuing bank and the acquiring bank, according to rules established by the card association brand.
Read more about this topic: Issuing Bank
Famous quotes containing the word detail:
“Art, it seems to me, should simplify. That, indeed, is very nearly the whole of the higher artistic process; finding what conventions of form and what detail one can do without and yet preserve the spirit of the whole—so that all that one has suppressed and cut away is there to the reader’s consciousness as much as if it were in type on the page.”
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“Ancient history has an air of antiquity. It should be more modern. It is written as if the specator should be thinking of the backside of the picture on the wall, or as if the author expected that the dead would be his readers, and wished to detail to them their own experience.”
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