Credit Card Processing
Credit card processing is the service of enabling merchants
to accept sales in credit card format. The transactions
are processed, collected, fees are subtracted, and the
cash is placed into the merchant account owner's bank
account. Credit card processing is only capable through
a contracted merchant account between a merchant account
service provider and a merchant.
Credit Card Equipment
Credit card equipment is the mechanical and/or electronic
devices necessary to accept a customer's credit card
for a transaction. Credit card equipment works in conjunction
with your merchant account service provider to pass
your transactions through your merchant account and
into your bank account.
Credit Card Printer
A credit card printer is the device which enables the
printing of a card present, credit card transaction
receipt. Utilizing a printer will help in reducing credit
card fraud, thus keeping your merchant account in good
standing.
Credit Card Terminal
If you want to accept credit cards in a retail setting,
then you will need a merchant account and a credit card
terminal. It is the device that card present transactions
are swiped through, in order for a transaction to be
processed. The terminal will read the customers credit
card, send the pertinent information back to the merchant
service provider, and the funds are collected from the
credit card issuing company. Once the funds have been
collected, they will be deposited into the merchant's
merchant account, then into their checking account,
minus the fees. Credit card terminals range in style,
options, capabilities and price. Very dependable and
efficient credit card terminals can be purchased at
affordable rates. Not all credit card terminals are
expensive, but all will require a merchant account in
order to process credit card transactions.
Debit Card Processing
Debit card processing is the processing of debit card
transactions through your merchant account, no matter
what type of merchant account or business you have
Debit Card Transaction
An individual sale from a debit card passed through
your merchant account, no matter what type of merchant
account of business you have.
Debit Card Pin Pad
The device used by the customer to input their 4 digit
password when accessing their bank account through their
debit card. Debit card transactions can also be processed
through a merchant account, but are subject to lesser
fees than a true credit card transaction. Consult a
merchant account specialist to learn how to use debit
card processing, and credit card processing, for your
retail business. Non-retail merchants can also process
debit cards, but since the transactions will not be
face-to-face, the customer does not have the option
of entering their pin code, and thus the transaction
is not considered a true debit card transaction. Internet,
phone, or mail based merchant account businesses can
still process debit card transactions through their
merchant account, but will not see the benefit of lesser
fees that a retail merchant will.
Merchant Account Software
Software that is web or PC based, which is used by
the merchant to pass transactions from their business
to their merchant account. This form of processing can
be best suited for merchants with phone or home based
businesses. Desktop software is usually used in conjunction
with a home merchant account and/or a phone/mail order
merchant account.
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