4 ms·
It sounds like you have no idea how credit card transactions were or are processed. They are almost exclusively file and batched once a day, even today. Back in
by uberonhn 10y ago
It sounds like you have no idea how credit card transactions were or are processed. They are almost exclusively file and batched once a day, even today. Back in the 1970s it was even worse because there was no real time authorization.
- dang 10y agoThis is helpful information if accurate, but please edit incivility like "It sounds like you have no idea" out of your comments here. The site guidelines ask you to omit this sort of thing, so please post civil and substantive comments only: https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newswelcome.html https://news.ycombinator.com/newswelcome.html
- gaius 10y agoHe or she is correct that the cash settlements were and are batched, but authorizations, reservations etc were online - to the mainframe that's just another transaction. The reason settlements were batched was to save on wire fees.