1. Customer presents their
card for payment to the merchant. Merchant Account
Owner slides the card through the credit card
terminal and enters the amount of purchase. The
terminal dials a toll-free number and connects
to Cardstreet.com Merchant Account Services for
authorization. Once connected, the terminal will
send the credit card information and amount of
the purchase.
2. Cardstreet.com Merchant Account Services
then sends the information on to the credit card
issuing bank. The issuing bank then checks to
see that #1, the card is valid, and #2, that the
amount requested is available on that account.
Once completed, the issuer will set aside the
requested funds for the purchase.
3. At this time, the issuing bank then
sends back an approval number or a decline message
to Cardstreet.com Merchant Account Services.
4. Cardstreet.com Merchant Account Services then
sends this information to the merchants terminal for
printing of the receipt for the customer to sign (if
the card was approved). It takes approximately 12 seconds
to complete steps 1 through 4. It is a very quick and
easy process.
5. Once the business day is over, the merchant
can manually settle their terminal, or Cardstreet.com Merchant
Account Services can automatically begin the final process
for you. Most merchants prefer that Cardstreet.com Merchant
Account Services automatically settle their daily transactions
at a set, specific time each day. Once the settlement
process is initiated, the funds are transferred from
the issuing banks of your various customers credit cards,
to Cardstreet.com, Merchant Account Services and then
we immediately deposit them into your business checking
account. It takes approximately 2 days from settlement
of a transaction, till the time you receive the funds
in your checking account.
For more information on
retail merchant account credit card processing click the
link below.
