Credit Card Processing And Merchant Accounts

Much like peanut butter and jelly, credit card processing and merchant accounts go hand in hand, and – together – they allow businesses of all varieties, no matter the industry, the market, the volume of sales, or any other defining business factors, to accept credit card payments from customers around the world. Let’s take a closer look today, however, at the workings behind card processing and merchant accounts, and try to understand how and why they are so beneficial to all kinds of businesses.

If you conduct business directly with your customers, card processing and merchant accounts have become an irreplaceable necessity. Whether you have a store, restaurant or kiosk, Vision Payment Solutions can help with all your card processing and merchant accounts’ needs for less money than you might have even imagined.

You will find some helpful information on our site that will help you get your business started with card processing and merchant accounts.

Processes Involved in Credit Card Processing and Merchant Accounts

  1. The merchant swipes the customer’s card through the credit card terminal and enters the sale amount. The terminal then connects to Vision Payment Solutions’ processor for authorization.
  2. The processor passes that information onto the bank that issued the credit card; the bank verifies the card’s validity, and the amount available on the card.
  3. The issuing bank sends back an approval number or a decline message to Vision Payment Solutions processor.
  4. The information is passed back to the credit card terminal which prints a receipt for the customer to sign if the card is approved. It takes approximately 12-15 seconds to complete steps 1-4 on a credit card machine using a phone line. The newer internet enabled machines can cut this time to just a few seconds.
  5. Later, the merchant must settle their terminal, which finishes out the transaction. Once the settlement process begins, the funds are transferred from the bank and deposited into the merchant’s checking account. It typically takes around two business days from the time of the transaction for the funds to deposit into the merchant’s checking account.

If you have any additional questions on card processing and merchant accounts, feel free to give Vision Payment Solutions a call today, and discover why so many successful merchants choose VPS for all their credit card processing and merchant accounts needs.