| A merchant account is essentially a bank account | | | | Retail swipe terminal is considered to be the cheapest |
| designed specifically to accept credit card transactions. | | | | credit card processing solution and also has the lowest |
| For online merchants, it is highly advised that you | | | | risk where fraud is concerned. |
| support credit card payments as these days as most | | | | Real-Time Internet Processing |
| people use their credit cards to buy everything from | | | | Real time Internet processing is a type of processing |
| an insurance policy to dog food online. | | | | which is ideal for online businesses. How does it work? |
| If you have an online business or retail store and are | | | | When an customer is ready to make payment then |
| thinking of accepting credit cards then you need to first | | | | they click on the checkout link to take them to the |
| look at the various options available. Different | | | | payment options page. Here they can choose to pay |
| processing providers offer different packages that | | | | through their credit card and provide information |
| include features like retail-swipe terminal processing, | | | | regarding their credit card like date of expiry, card |
| real-time Internet processing, and computer-based | | | | number etc. The confirmation for acceptance or |
| processing. Let us take a detailed look at the three | | | | decline is received immediately. If the card is accepted |
| types of processing as it will help you to make an | | | | then the money will usually be transferred to your |
| informed choice: | | | | account merchant account within 2 business days. |
| Retail Swipe Terminal | | | | Computer-Based Processing |
| This is an ideal type of processing option for | | | | Computer-based processing is a type of processing |
| businesses that focus on retail sales. This is definitely | | | | where software is used to enable you to process all |
| not for internet businesses. You will need to use a | | | | the major credit cards as well as check guarantee |
| point of sale software (POS). It comes into play when | | | | services on your computer or PC or even laptop. The |
| a customer is making payment through their credit | | | | benefit of computer based processing is that it will |
| card and you will need to swipe the card at the POS | | | | greatly reduce fraud losses as a human needs to |
| terminal in order to get the necessary transaction data. | | | | manually enter in the transaction details. |