Utente:MarticaReeve780

If you are thinking of moving your business online, you should also be learning about the process of how business process credit card transactions and how they are paid. There are many companies to choose from that will acts as third part online merchant account firm for you so that you will no longer worry about the process. The specific processes that these payment processing companies use may be different but the basic idea is the same; collect information, check the information and transfer the money.

Collection of sale information

When a buyer of your products goes to your page and has decided on the things he or she wants to buy, the he or she is made to press a “buy now” button or a similar button. In the cart page, the user will be asked to enter the information that will allow the payment processing to happen. The cart page will not be very different from the company website but it will be in a more secure server that will allow information transfer with little chance of information being intercepted. Getting information this way is more secure and the information will allow the payment processing firm to be in control of the whole process.

Authorization of the credit card

After the information has been gathered, the payment processor then inspects if the credit card account exists and if there is still enough credits in it to make the purchase. A request for authorization is then sent to the financial institution with the information about the buyer stated. The credit card company can either deny the transaction because of issues regarding the company or allow it if all the information entered are correct.

Getting paid

The details regarding the sale is then confirmed with the buyer where the amount that will be deducted from the credit card is stated. When the purchase is confirmed, the payment processor transfers the amount from the credit from the credit card to the business account of your website.

Alternative payment options are presented to the buyer it the transaction is not authorized by the financial institution. If you are interested in this kind service, you should sign up for a Merchant Account in your preferred payment processor. They will guide you in how to set up the technology like Credit Card POS that will make your online business run smoothly.