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Credit Card Processing - How it Works?

CREDIT CARD PROCESSING HOWIT WORKS 6 SIMPLESTEPS STEP 2 PAYMENT GATEWAY STEP1 Merchant site payment gateway sends payment authorization details to payment processor STEP 3 CUSTOMER PAYS PROCESSOR Customer makes a purchase on merchant site and makes the payment using their credit card Payment processor sends transaction details to credit card (cc) network. STEP 6 MERCHANT SITE STEP 5 STEP 4 CC NETWORK Upon payment approval confirmation, merchant site ships the purchased item to the customer Credit Card (CC) Network authorizes (or déclines) the payment request. Reqúested amount is debited from the card holder's bank account PROCESSOR Funds are transferred into merchant bank account within 2 to 4 working days Payment processor confirms payment approval to merchant site CC Network sends back payment approval confirmation to payment processor Merchant Accounts & Credit Card Processing Since 1998

Credit Card Processing - How it Works?

shared by web.creditcardp... on Nov 01
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Every business - big or small, online or offline, is now depending on credit cards for receiving payments. The inner workings of credit card processes may not be easy to follow for all business owners...


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