GSM
Hi
I don't understand where this credit card payment handling firm is involved. My naive understanding, based on my friend who runs her own business, was that the card payment was taken from the card holder and then credited to the beneficiary's bank account a few days later. Why do these third parties hold the cash?
Also, given that when, for example, MFI went bust, customers were advised to claim on their credit or VISA debit card. Do these third party firms hold cash for all companies? IE, I spend £200 in Debenhams today, so when do Debenhams get the cash?