Credit Card Processing How Is It Done

If you are a budding merchant and wants to put up an online business the

first thing you need to do is to acquire a payment system wherein your

consumers can buy and pay whatever items they found in your online store.

To get things going a credit card always comes handy to kick off the buying

and selling industry online. So to run a successful online business you

should know how to choose your reputable credit card processing provider

to help in your day to day payment transaction with your consumer.

Although, finding a credit card processor for your company is quite difficult

not only each of them offers different platform and charges, you might end

choosing a wrong one.

And if this happens you have no choice but go back to square one.

Scary it may seems but you have to face the fact without a company to

process your customer’s credit card payments your business is totally off the

hook when it comes to online selling.

Here is a two short tip on how to set up a credit card processing for your

online business.

Create a gateway account:

- Make sure your gateway account convey with the Payment

Card Industry Data Security Standard requirements.

- Make sure it has a secure socket layer to guarantee all

transactions are protected.

- It has fully equipped e-commerce incorporation which includes

email receipt, shopping basket and support recurring payments.

- It has a fast customer service support

Create a merchant account:

- Fill up the digital application form. The application process

takes 1 to 2 days.

- Add shopping carts. Some credit card processor requires

shopping carts on the website.

- Protection from fraud. Merchant account should have a

program to verify credit cards.

- Should have payment gateway

- Monthly and transaction fees. Merchant services constantly

make money on their business transaction.

In connection with acquiring a reputable company to process your

customer’s credit card payments don’t forget to evaluate the following set of

features that you think is most favorable for your business such as rate and

fees, application process and what will you expect from these credit card

processing companies.

After setting up your credit card processing for your online business the next

thing you need to know is how things will work once it started.

- The customer will buy and pay

- The payment gateway service will transmit a record about the

transaction at the merchant bank’s processor then it will route

back to the cardholder’s bank.

- Once verified the cardholder’s bank can neither approve nor

decline the transaction and the message will send back both to

the merchant and cardholder.

- Given it was approved the merchant will deliver the goods to

the customer

- The cardholder’s bank transmits the require amount to the

credit card processing system who transfer the customer’s

payment to the merchant’s bank. End of transaction.

If you think you are ready to put up your online business make sure that you

gather enough knowledge and information to help you pull through with

your chosen business venture.