u/TimmBombadil

How were payment processors operating at scale before electronic card readers?

Sure there were zip zaps (knuckle busters) for getting the card data, but then how was this data actually sent to the processor to the acquiring and issuing bank? Also, when did the payment processors start being the ones to issue the cards?

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u/TimmBombadil — 18 hours ago

Did NDC, the first payment processing company, route their electronic messages to the card networks, or did they route them to the acquiring banks and the issuing bank themselves?

And how would this have worked before payment networks developed? And how did this process change after the payment networks were established? Im guessing that NDC would be limited to processing payments for banks that had their own computer systems set up for this.

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u/TimmBombadil — 18 hours ago