Answer:
The answer to this question is given below in the explanation section.
Explanation:
Most business applications and websites use and process the credit card for their transaction.
For example, e-commerce website such as ali baba, am a zon, accepting credit card transaction when the customer gets to purchase any product from their stores. Their transactions are processed by in house credit card apps/service. But these apps/services owned by a third party. They just give you API services and related code to integrate the credit card services.
By using their in-house credit card apps/services, they know that user has transferred the money into their account for the purchased product, upon receiving payment confirmation, they then prepare and dispatch the order.
So, the correct answer to this question is:
To process the credit card transactions, they license third-party credit card apps/services backed by the internet merchant who is responsible for handling and managing the money of the business account.
