Which part of the payment process does the back-end processor manage?

The back-end processor plays a crucial role in the payment process, particularly in managing transaction-related operations after the initial sale has been completed. This involves activities such as chargeback and retrieval processing. Chargebacks occur when a customer disputes a charge, prompting a reversal of the transaction to protect consumer rights. Retrieval requests involve a merchant needing to prove that a transaction took place to resolve disputes. Both of these processes are integral to ensuring the integrity and security of payment transactions, addressing customer inquiries, and managing risks associated with electronic payments.

The other options primarily relate to front-end or customer-facing activities. Handling customer inquiries directly pertains to customer service rather than back-end processing. Accepting payments at the sales counter is a transactional activity that occurs at the point of sale and involves front-end technology. Marketing and sales promotions do not typically fall under the payment processing domain, as they focus on attracting customers rather than managing the financial operations associated with payment transactions. Therefore, the correct understanding of the back-end processor's role clearly aligns with chargeback and retrieval processing, making it the right choice.