What Is A Credit Card Processor And How Does It Work?
While most people might accurately guess the definition of the term credit card processor – as, of course, something that processes credit cards – let’s look more specifically at a more detailed definition, as well as the basics of how a credit card processor works and the many benefits they provide businesses of all varieties. Before you understand the basics of a credit card processor, however, you must first understand what a merchant account is and how it functions.
Quite simply, a merchant account is a business agreement between a merchant and a credit card processor that enables a merchant to accept credit card payments from his or her customers. A processor equips the merchant with the hardware, software, and service needed to process credit card transactions, facilitates the authorization of sales transactions by the customer’s card-issuing bank and deposits the funds into the merchant’s bank account specifically arranged for such a purpose.
Vision Payment Solutions is an acclaimed credit card processor, offering merchant accounts and credit card processing that is custom-tailored to deliver the results businesses need. We provide world-class electronic payment processing that’s both safe and fast, along with customer support to assist merchants, should they encounter any processing issues.