CCG has various meanings in the Banking category. Discover the full forms, definitions, and usage contexts of CCG in Banking.
Credit Card Guarantee (abbreviated as CCG) is a financial arrangement in which a valid credit card is used to secure payment for a transaction, reservation, or service. Commonly applied in sectors like hospitality, travel, and rentals, a CCG ensures that the service provider has a payment method on file to cover potential charges, cancellations, damages, or no-shows. The guarantee does not necessarily involve an immediate charge but authorizes the merchant to process payment if specific conditions are met.
In banking and merchant services, CCG is an important risk management tool that protects businesses from revenue loss while providing convenience to customers. It allows transactions to proceed without requiring large upfront deposits, enhancing customer trust and flexibility. However, proper authorization protocols and compliance with card network rules are essential to avoid disputes or chargebacks.
BankingLast updated: