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David John
Angemeldet seit:
24.04.2022
Beiträge: 277
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From both the business and the customer perspectives, credit card transactions are simple: simply swipe the card through a retail or mobile terminal, or enter the credit card and billing information online or through a virtual terminal, and the merchant account does the rest, sending the card information to the credit card issuer where it is validated and verified, and then transferring the sales proceeds to the business bank account automatically - all in a seamless process that seems to take only seconds.
But while the transaction appears simple from the outsider's point of view, in fact, your merchant account is working hard, ensuring the transaction is processed correctly and helping avoid fraud that could be costly to your business.
Here's a quick rundown of the steps actually involved in processing credit cards through a ***** account provider:
Credit card information is entered into the terminal, either through a swipe terminal - also called a point of sale or POS terminal - at a retail store; through a computer keyboard that serves as a virtual terminal for mail order and telephone sales, and some remote or mobile processing; or through your online web store's virtual shopping cart.
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