Frequently Used Terms During Credit Card Processing

Credit cards have become such a common form of payment that they dont need any introduction

. Around the globe, people use credit cards to purchase goods and avail services from vendors. Do you know what is ironical with credit cards? Despite their wide usage, people are not aware of the process followed during credit card processing San Diego. They continue to use credit cards and pay off their bills month after month. Everything seems to be well until some elements with evil intentions perforate your monthly cycle. With little or no knowledge about credit card processing and related terms, credit card holders are unable to solve the issue easily.

To be able to solve ecommerce credit card processing related problems on own, knowledge of terms used during credit card transactions is pertinent. Some of the frequently used terms are mentioned below.

1.Cardholder The term is used to refer to the individual who owns the card and uses it for making purchases at different outlets.

2.Acquirer Acquirer is the bank that settles monetary transactions through credit card issuer for the merchant.

3.Issuer The term issuer is used for the body that issues credit card to cardholders. An issuer can be a bank, Credit Card Company or any other financial institution.

4.Card Network Credit cardholders must be familiar of Visa and MasterCard. Well, both of them constitute a card network. Card network bridges the gap between acquirer and issuer and ensures smooth monetary transactions.

5.Discount Fee Merchants pay this fee amount to acquirer for credit card processing. This discount fee varies from one company to another and one should compare the fee amount before taking any binding decision.

Knowledge of these common terms is essential but definitely not sufficient. To solve most of the credit card processing related problems on your own, a basic knowledge of steps followed during credit card processing should also be there. Below, different steps of ecommerce credit card processing have been mentioned for you.

1.Authorization The identity of the credit card holder and the merchant is authorized to ensure that a legitimate transaction takes place.

2.Batching This is the phase where a batch of transactions is made at the merchant end throughout the day.

3.Clearing The merchants sends the batch of transactions to acquirer from where it is forwarded to issuer.

4.Funding This is the last stage where the specified amount of money is deducted from the cardholders account.

Thousands of merchants across the country rely on Appstar Financial to provide powerful products and superior service. We offer competitive transaction processing rates and support the latest point-of-sale equipment and software. Our friendly, multi-lingual customer service team is ready to assist our customers 24 hours a day, 7 days a week to keep our merchant businesses running smoothly.

Appstar Financial offers advanced equipment to meet individual business demands. From terminals and check readers to imagers and printers, Appstar Financial provides merchants with superior equipment from top manufacturers. We can assist our merchants in choosing the right equipment to fulfill any transaction processing need. Appstar Financial offers reliable equipment with the latest technology and software that ranges from processing simple transactions to providing wireless technology and Internet accessibility. Appstar Financial is committed to providing our merchants with quality equipment to make business transactions easy and convenient.

by: Ethan Martine

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