What is internet credit card processing?

Internet credit card processing refers to the technology and methods merchants use to electronically <a href="https://chargebacks911.com/online-payment-processing/" title="Online Payment Processing">process credit card payments</a> from online transactions.

How does online payment processing work?

The transaction process involves multiple parties, including merchants, cardholders, banks, card networks, and other service providers. These parties work together through four key stages of a transaction â authorization, batching, clearing, and funding.

Do I have to pay for internet processing?

Yes. There is a cost for the processing itself. There may be additional fees assessed for any number of potential associated operations as well, from administrative and set-up charges to fees for reports or customer service. Specific monthly or per-transaction costs depend on the processor.

Does internet processing increase my chargeback risk?

Indirectly, it can. The process itself doesnât present a significant risk, but using internet processing means youâre dealing with card-not-present transactions. That typically means you have a higher chargeback risk, and other associated factors might increase that risk even more.

Banking Archives - Page 3 of 5

Banking

Interchange-Plus Pricing

The ability to process credit cards has a price tag. Obviously, you want to pay the lowest amount you can for each transaction, and that amount could depend on what type of payment model you set up with your processor. Today we’re taking a closer look at one such model: interchange-plus pricing.

Read the Article