Credit Card Processing How Is It Done

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Credit Card Processing How Is It Done
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If you are a budding merchant and wants to put up
an online business the first thing you need to do
is to acquire a payment system wherein your
consumers can buy and pay whatever items they
found in your online store.   To get things
going a credit card always comes handy to kick
off the buying and selling industry online. So to
run a successful online business you should know
how to choose your reputable credit card
processing provider to help in your day to day
payment transaction with your consumer.
  Although, finding a credit card processor for
your company is quite difficult not only each of
them offers different platform and charges, you
might end choosing a wrong one.
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And if this happens you have no choice but go
back to square one.   Scary it may seems but you
have to face the fact without a company to
process your customers credit card payments your
business is totally off the hook when it comes to
online selling.   Here is a two short tip on how
to set up a credit card processing for your
online business.
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• Create a gateway account
• Make sure your gateway account convey with the
  Payment Card Industry Data Security Standard
  requirements.
• Make sure it has a secure socket layer to
  guarantee all transactions are protected.
• It has fully equipped e-commerce incorporation
  which includes email receipt, shopping basket
  and support recurring payments.
• It has a fast customer service support

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• Create a merchant account
• Fill up the digital application form. The
  application process takes 1 to 2 days.
• Add shopping carts. Some credit card processor
  requires shopping carts on the website.
• Protection from fraud. Merchant account should
  have a program to verify credit cards.
• Should have payment gateway
• Monthly and transaction fees. Merchant services
  constantly make money on their business
  transaction.
•  

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• In connection with acquiring a reputable company
  to process your customers credit card payments
  dont forget to evaluate the following set of
  features that you think is most favorable for
  your business such as rate and fees, application
  process and what will you expect from these
  credit card processing companies.
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• After setting up your credit card processing for
  your online business the next thing you need to
  know is how things will work once it started.
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• The customer will buy and pay

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• The payment gateway service will transmit a
  record about the transaction at the merchant
  banks processor then it will route back to the
  cardholders bank.
• Once verified the cardholders bank can neither
  approve nor decline the transaction and the
  message will send back both to the merchant and
  cardholder.
• Given it was approved the merchant will deliver
  the goods to the customer
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• The cardholders bank transmits the require
  amount to the credit card processing system who
  transfer the customers payment to the merchants
  bank. End of transaction.
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• If you think you are ready to put up your online
  business make sure that you gather enough
  knowledge and information to help you pull
  through with your chosen business venture.