Credit Card Merchant Account Services 101

Credit card merchant account services comprise a vast array of both products and services that enable businesses to accept credit card payments from their customers. As a reputable merchant services provider, Vision Payment Solutions offers merchant accounts, POS terminals, online and mobile payment solutions for credit and debit cards, checks and prepaid cards, secure processing, and world-class customer support. Essentially, VPS provides the full spectrum of payment-processing services, allowing businesses to process transactions securely and effectively.

The duty of a credit card merchant account service begins prior to any credit card information being collected. The credit card merchant account service provider initially opens a merchant account for its client – separate from other accounts – and this is where your customers’ payments are deposited.

Along with a merchant account, the credit card merchant account service also provides the merchant with all other equipment needed for processing. For instance, brick-and-mortar locations need a system for handling card-present transactions: a countertop terminal with a reader and a line to the processor.

Once the merchant account is established, s/he can accept credit cards. The credit card merchant account service facilitates interaction among the merchant, card networks, and issuing banks.

When a customer swipes their card, the credit card merchant account service securely transmits their information to their bank for authorization. When the bank determines that the cardholder has enough credit, the sale is authorized. The credit card merchant account service informs the merchant, who finalizes the sale and issues a receipt.

Lastly, the processor submits the merchant’s transaction to the bank for payment, and then deposits the remainder into the merchant account, typically within a couple of business days.

When you’re working with a credit card merchant account service, offer them a full, accurate overview of your business, your processing needs, and even plans for the future. In this way, the credit card merchant account service can tailor the ideal merchant account according to your specific processing needs, no matter if it constitutes retail, online, wireless, or mobile transactions.

Vision Payment Solutions is a comprehensive credit card merchant account service with the experience to work effectively within any business budget. If you are looking for a reputable, professional credit card merchant account service that can help your business instead of hinder it, call VPS today at the number above!