What is Credit Card Processing?

Posted by Brian Latch on July 7th, 2020

Accepting online payments is the most basic thing necessary while running an online business. The owner of such business feel the need to have a proper process of accepting online payments through credit and debit card. Most of this payments are credit card based, hence there always a risk involved during the processing of credit cards in online payments.

  • What exactly is credit card processing?
    Credit card processing includes accepting credit card based payments for online business over a phone, online, mails, or by the person physically.
  • How does credit card processing works?
    The card reader becomes very essential at the POS when a customer is physically present to make this credit card transactions. While during online payments, a payment gateway from an e-commerce platform plays vital role in this transaction process.
  • A lot of assets are included during credit card processing.
    The card-issuing bank plays the first role, for providing is chip enabled plastic currency to the customer.

The customer becomes the second section of the chain for entering the correct card details during the payment process either online or via card reader machines.

The business owner and product in the next part of this chain, because this business becomes the touch-point of this transaction.

Next comes in the payment processer, this included the encryption of card details and payment before they reach the desired bank or institution.

The card issuing bank can either approve or disapprove this desired payment.

Credit Card Processing only becomes a success, when all the above assets work in unison and with full faith towards providing the details.

Brian Latch

About the Author

Brian Latch
Joined: May 12th, 2020
Articles Posted: 27

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