There are in fact three different entities participating in the letter of credit transaction the seller, the buyer, and the banker.

A credit agreement may be a credit facility, a credit transaction or a credit guarantee (or a combination of these).

Contactless debit and credit transactions are protected by the same fraud guarantee as standard transactions.

Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.

These were used in trade and credit transactions; they were used as remittance instruments for the purpose of transfer of funds from one place to another.