Direct Processors Issues ABCs Of Accepting Credit Cards – The Basics of Credit Card Processing

Direct Processors
Direct Processors is a reputable, full-service merchant services provider with years of experience. We know that a well-educated customer is our best customer.

Here are the ABC’s of accepting credit cards for your business.

Having an account with a merchant processor is your first step for your business to start taking credit cards.  This is known as a merchant account.  There are several different types of accounts that are available to you depending on what type of business you have – POS (Point of Sale) retail, mobile, online, wireless, phone, mail order/telephone order (MOTO), restaurant, lodging and so forth.  If your operation spans different types of business as outlined above, then you may need more than one type of merchant account.

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A series of events are put into motion when a customer swipes or dips their card into a POS system and this process is completed when the proceeds of the customer’s transaction from the sale are deposited into your merchant bank account.

A dip or a swipe is all it takes for the cardholder and their account information to enter into the system to be securely transmitted to the processor.  Processor’s act as a middleman between the bank that issued the credit card and the merchant.  The bank will approve or decline transactions based on the information from the swipe and the information from the card.  After the information from the transaction approves the sale, then the customer is issued a sales receipt to complete the transaction.  If the transaction is declined by the bank,  the customer must contact their issuing bank; they have no recourse with your business.  The beauty of this type of transaction is the speed.  These transactions take seconds to be completed for your business.

After this transaction is authorized and completed, the bank will close out the transaction.  They then will issue payment to the processor and the consumer will be billed for their purchase.  Usually, these funds will be deposited into the merchant’s account within a couple days.

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Card present and card not present are the two basic types of credit card transactions that your business will process.  A face to face transaction is typically the type of transaction where the card will be physically present.   These are the most secure type of transactions and carry the lowest processing fees.  Keyed transactions, or card not present, are transactions where the information from the credit card is physically entered into a terminal or website payment page.  These transactions are riskier for the processor and the banks, and the corresponding processing rates are higher for the business.

The basics of credit card processing have been laid out for you.  Now it is time to talk to a merchant services provider and acquire information on what type of account and processing will work best for your business and how much it will cost.  Direct Processors has a professional trained staff that will answer any and all questions you have to put you in the right processing program.

About Direct Processors

Direct Processors is proud to offer world-class merchant services, including EMV credit card processing, debit programs, gift cards, and more for companies of all sizes.

Direct Processors welcomes all merchant services transactions, including major merchant industries such as hotels, restaurants, small business, and e-commerce credit card processing.  We are committed to serving all business sizes, large and small.  Direct Processors offers you the support and security you can rely on.  Let us be your one-stop merchant solution.  We are committed to being the payment processing company that optimizes your ability to seamlessly process credit card transactions along with providing you made-to-order intelligence that gives you the competitive edge that makes a real difference in your bottom line.

Direct Processors makes no representation or warranty regarding and accepts no liability for the accuracy of the content contained herein.

Media Contact
Company Name: Direct Processors
Contact Person: Danna Powers
Phone: (844) 838-3086
Country: United States