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:
“all to no end save beauty
the eternal—
So in detail they, the crowd,
are beautiful”
—William Carlos Williams (1883–1963)
“General scepticism is the live mental attitude of refusing to conclude. It is a permanent torpor of the will, renewing itself in detail towards each successive thesis that offers, and you can no more kill it off by logic than you can kill off obstinacy or practical joking.”
—William James (1842–1910)
“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.”
—Willa Cather (1873–1947)