What Is Credit Card Processing and How Does it Work?

You know it takes a lot of work to run a company – from generating new leads and maintaining current client relationships, to processing payroll and tracking inventory. But a little-known fact is companies don’t have to handle all those daily tasks themselves. Businesses today are able to focus on what they do best by outsourcing their time-consuming tasks to experts in the field.

To help you avoid practicing the age-old art of trial and error, here are some facts about credit card processing services you should know before making a decision on which service is right for your company.

Why Choose A Professional Credit Card Processor?

Credit card processing services offer a number of benefits over a company owning its own merchant account and credit card processing equipment. Some companies find it difficult to process credit cards because they have high volumes or low average ticket items that don’t warrant the cost of investing in their own merchant account and terminals. Even if your company does decide to invest in one-time use terminals, processors often require a minimum processing volume.

This is where credit card processing services can help; we can offer your business an affordable and professional solution for your needs and the flexibility to grow as your business does.

You process your payment through a secure Internet connection. You never need to worry about losing or forgetting equipment like you would with one-time use terminals; we’ll provide the equipment and ship it back when you’re done processing.

Account access is handled online, so there’s never a need to reissue cards or handle anything on site.

You’re protected with PCI compliance, which means you never have to worry about exposure to credit card information or security breaches. Our servers are handled by the best Security Service Providers (SSP) like VeriSign ® and Symantec®.

We offer tight rates and terms; meaning low processing fees, no application fee, no set up fee, and competitive rates.

You can focus on what you do best – growing your business – without spending extra time processing credit cards. From the minute we take over every aspect of your credit card processing until now, we’ve been working hard to make sure each phase is as easy and stress-free as possible for you and your company. Their account will be in great hands with a company that does this for a living. Unlike small business support companies, we have the resources to help you every step of the way and offer personalized service when you need it.

Choosing a credit card processing service is an important decision for your company, but don’t fret! It doesn’t have to be difficult once you know what questions to ask and who can best answer them. The first step is knowing the basics about the industry, including the types of services that are available and the types of equipment involved.

Types Of Services And Equipment Processors Offer

Credit card processing services offer two main types of services: “merchant accounts” and “gateways.” Once you understand the difference between the two, you’ll be able to make an educated decision on which service is right for your company.

A merchant account is a type of business checking account that allows businesses to accept credit cards as payment. This type of account also comes with equipment (terminals) for card swiping and processing online, and a dedicated phone number to increase customer confidence in making purchases.

Terminals — The device that is used to swipe the credit card through is known as a terminal. Terminals come in two types: PC-based and PIN pad terminals.