Component
The number of participants to perform transaction processing in funding from the swipe. Plays an important role in each of the participants in the transaction was successful.
Participants are as follows: basic. Merchant to process credit card offer their products and services, of their own, the terminal card, Customers using the card issuer or service provider gateway account, the consumer, the merchant account provider.
Each participant has the ability to play their role and millions of transactions that occur daily in the past second.
Stage
Three stages of processing credit card transactions can be found in the general.
Customers to purchase products and services from your business using your own cards
To a virtual terminal and secure the necessary approvals and approval of the transaction, the credit card swipe machine or
To handle the sale and complete the payment, transfer of funds to your merchant account from the bank was successful
What happens
Your customer transaction will be started when you pass your credit card for payment to you in exchange for products or services you are selling.
With a swipe card to card in your machine you relevant information from the customer's credit card, such as account number, in order to ensure the necessary permissions for payment, will be supplied to the system.
Service providers, to ensure approval electronically, send information to the card issuer, approval has been confirmed, when you are receiving alerts you to accept credit card payment.
At the time of acceptance of payment, purchase amount is deducted from customer's account, the card issuing company, to transfer the same amount to your bank for deposit to the account given - minus the discount rate. Simultaneous release the item, to your customers to transfer funds, the transaction is completed.
All of these things, as a technology of processing system, perform this task to occur within two seconds behind the scenes (2) to three (3).
Significance of credit card processing
Credit card processing, to do to enable secure payment in exchange for goods and the acceptance of payment in order to release the goods of their own part of customers and merchants, the business for both merchants and customers will be useful.
To start receiving the benefits of transaction processing, and has third-party provider, need to have a merchant account that banks and their customers from work, or a valid credit card with sufficient available balance and merchants You must have a debit card.
The role and function of the machine of credit card
Card machine, and plays an important role in the process of the transaction. To complete the purchase it is the main tool that runs as a service and transmission card reader.
Whether you are using a physical terminal point of the system virtual terminal to work as fundamentally it is sold or you, the information is sent between the banks and card issuers for the processing of remittance You will be notified.
Processing of credit card, credit card machine how to operate in that play a role are as follows.
Credit card machine reads the information contained in the card. Magnetic stripe of the card, the card reader and touch the machine, it will do this immediately. This process, the machine is done as a credit card swipe. Sends the data to it to pick up, you begin the verification process.
Communication of basic information from the card, your credit card number, not just the name, which contains the security and verification code on the machine. Enters the system information, credit card machine starts to transmit to the system.
Transmission of information is processed by the service provider of your choice of credit card through the machine. You can, depending on the type of card machine set up and use, whether to use a dedicated phone line, or wireless, to send the information via a direct Internet connection.
Is sent to a customer's credit card issuing company of your information, the machine is waiting for authorization checks. This is done in just a few seconds. Will receive an alert card issuer to verify the validity of the card, as approved the amount, your payment is approved, have been accepted.
Software during the validation process, running the machine, make sure three things: your customers (1) is a membership card certification, (2) the card is active, and is a member (3) card has not gone beyond the limit of the credit card.
Credit card machine, with the approval of the payment, receipt prints the two (2) - A signed receipt, sent to you for the purpose of record, payment for the purchase of other will be sent to the customer as their evidence.
At the end of the night, you usually need to complete the batch processing you will confirm the receipt of the day, to make any adjustments to the purchase price. The results are sent to begin the process of funding.
How to get a set of credit card processing
Is it possible to obtain a set of credit card processing for your business is easy.
The first step is to consider a company that offers benefits and features to promote your business to the most forward, you want to select. All processors, making it suitable for any industry. Compare the rates and services provided before you will create a leap, to commit to a contractual commitment.
Your business, you may benefit from the point of terminal POS.
You have a number of them may be required to provide your Salesforce enough.
Information processing terminal, you can can from the card processing company at the top of the purchase or lease, or buy them from a third party, to integrate them into your system.
There are advantages and disadvantages for the selection of either specific business needs should guide your decision.
That unnecessary features to your business, you tempted to buy or rent credit card machines are not available.
You need to pony tricked out a little when the workhorse will do. When it comes to credit card payment machine, our recommendation is the path that is simple and effective.
Online, you will be able to compare companies and providers can rent or buy a card for your machine. We would recommend that you compare at least three offers will help you determine the most appropriate to the needs and requirements of your business.
Look for the positive feedback from customers from the actual business of working in the processor you are being considered, high-quality customer support services.
A lot of unnecessary headache you will be saved the way to cooperate with the best companies.
There are many benefits from the use of card processing, it will save to increase the sales of your business, staff time for yourself and your, offers a maximum effort to the convenience of payment of the customer You.
Mechanism of processing of the card is your business, you know the basics of how to help make an informed decision when you start the service can help you comparison accept the card.
0 comments:
Post a Comment