What does GAN stand for in electronic transactions?

In the context of electronic transactions, GAN stands for Global Authorization Network. This term refers to a system that allows cardholders to obtain authorization for transactions across different networks and geographical regions, ensuring that the authorization process is efficient and secure globally. The Global Authorization Network facilitates communication between merchants, payment processors, and banks, allowing for swift verification of transaction details, such as card validity and available funds, before finalizing a payment. This capability is critical for businesses that operate internationally, as it helps streamline the payment process and maintain high levels of security and fraud prevention.

The other terms presented deal with different concepts that do not relate specifically to the electronic transaction industry in this way. Thus, choosing the correct interpretation of GAN within the context of electronic transactions highlights the importance of global connectivity and efficient transaction processing systems in modern finance.