Understanding Electronic Credit Card and Bank Card Processing Flow

Competing in the Internet commerce world, businesses need to process transactions quickly, securely and in Real-Time. Electronic credit card processing has been a boon to customers, and therefore, it has rewarded merchants with increased sales.

Let us take a closer look at comparative analysis of different credit card processing systems, with regard to aspects like versatility, ease of use, cost and other features.

Electronic credit card is a payment solution that enables online and traditional merchants to accept and process payments directly from their Web site’s storefront or through the Virtual Terminal.

Some of the features included are:
  • Ease of use
  • Reduced cost
  • Web-Based Administration
  • Online Real Time Transaction Reports
  • Versatility (in terms of processors and platforms)

Integrated electronic credit card processing management systems provides convenient and unlimited transactions from nearly anywhere in the world.

The Authentication Process
Credit card authentication is the process of approval of a credit card transaction for a merchant by the bank that issues the card. Payer enters user name and password and the issuing bank authenticates payer and guarantees payment to merchant. Whether the transaction is approved or declined it usually takes between 3 to 7 seconds from the time the consumer clicks the ‘purchase’ button.

Key Benefits
  • Reduce processing costs. Cost to process is generally lower.
  • Receive deposits sooner. Deposit funds nearly as fast as paper-based check processing.
  • Increase sales. Convert sales that would otherwise be lost.
Acceptance of any form of conventional payment by consumers results in increased sales because the range of customers is increased. Electronic credit card processing lets the merchant tap into the market opportunity that is represented by the sheer magnitude of these numbers.

A merchant can setup and create a shopping cart using the various Interfaces available at AboutCSI. The company also offer to process a credit card accepted through retail counters, Internet, wireless, virtual terminals, even by mail/phone.

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