Question

Both the consumer and the seller of goods or services in a credit card transaction pay charges to the credit card company in most cases. True or False.

Answer 1

Answer:

True

Explanation:

It's a 50/50. I'm probably right

Answer 2

The given statement “Consumer as well as the merchant do pay the charges to the credit card company when transacted for the goods and services bought or sell” is true.

Answer: Option 1

Explanation:

Both the consumer and the merchant pay transaction charges to the company of the credit card for every transaction made in most of the cases.

There are some POS charges of about 2 percent which is to be paid solely by the merchant but they charge to the consumer which is fraudulent. Apart from that, merchant pays 1 to 4 percent of charges as commission charges.