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Credit Card Processing 101

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Presentation transcript:

Trusted source for all your payment processing needs

A merchant account is a special kind of bank account that exists for the purpose of holding funds captured from credit and debit card sales. If you’ve ever used your card and actually wondered where the funds just disappeared to, they went into a merchant account. From there they are transferred out to a normal business bank account, normally on a daily or weekly basis. What is a merchant account?

What is a payment gateway? When processing a credit card transaction, information needs to be sent somewhere to see if the cardholder has sufficient funds to pay for the sale. In a traditional brick and mortar transaction it’s actually the POS (point of sale) machine which takes the cardholder data, formats it and sends it to Visa or MasterCard to see if the customer has sufficient funds.

Step 1-Customer pays Customer makes a purchase on merchant site and makes the payment using their credit card Step 2-Payment gateway Merchant site payment gateway sends payment authorization details to payment processor Step 3-Processor Payment processor sends transaction details to credit card network Step 4-CC network Credit card network authorizes the payment request. Requested amount is debited from the card holder’s bank account Credit card network sends back payment approval confirmation to payment processor Step 5-Processor Payment processor confirms payment approval to merchant site Step 6-Merchant Site Once approved, merchant site ships the purchased item to the customers. Funds are transferred into merchant bank account within 2-4 working days.

1.Onshore and offshore Merchant Account Credit Card Services 2.US merchant accounts 3.Internet Virtual Terminal 4.Credit card processing terminal/Traditional Retail/Countertop 5.Online Credit Card Processing ServicesOnline Credit Card Processing Services 6.Mobile payments 7.High risk processing 8.Low, Medium and High Risk Accounts

Fast setup Secure and reliable 24x7 client support

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