Credit cards were described as the money for the future just ten short years ago. No business is complete without a card processing system. This is a process where a customer can pay for a service or product with a card instead of cash. The card company pays the merchant and the customer repays it in installments or in one lump sum.
Credit card processing is carried out when the card holder provides details of the card such as his name, card number and the CVV number of the card through an online form on the merchant’s site or by physically swiping the card in a terminal at the merchant’s location .
Credit cards are being used in every sphere of commerce, especially e-commerce. There are many processing companies that offer to integrate an electronic payment gateway on your site. Likewise, there are many ways that processing can be integrated into your site. We shall discuss these ways in detail briansclub.cm.
Writing code that will connect your payment page directly to your merchant account at your bank is one way credit card processing can be incorporated on your site. This is, however, a very expensive way and there are a lot of technicalities involved. One technicality is the bank’s permission which is not very easy to get. Another problem is the security aspect. If your site is not very secure or if you do not have a qualified person administering your business portal there is bound to be security breaches, and this is not good news for you.
The other way to include credit card processing facilities on your site is to hire the services of a firm or company that offers the service. These are mainly online payment processor sites and that offer you a personalized page to include a form for payments.
The form will typically ask the customer to fill in their card number and the CVV number. The card processor will interact with the card issuing company, which is VISA or MasterCard in many cases, and will issue you the payment on their behalf and credit it to your bank account minus a fee for their services.
Using a processing company to process payments on your site is by far the most economical and safest way to accept credit cards on the net.
