paymentsclarity
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| Credit Card Processing Solutions (14th Dec 22 at 10:58am UTC)
Almost all the online business across the globe widely uses Credit card processing. |   | Credit Card Processing by Offshore Gateways
Almost all the online business across the globe widely uses Credit card processing.
Credit card account refers to the process of completing a transaction on a merchant’s website using credit card with the help of Payment Processor.
During the checkout, customer is directed towards a payment gateway where they can enter their credit card details to initiate the transaction. Payment gateway routes the transaction and send the card details to the payment processor or to the merchant’s bank.
A payment processor / credit card processor is the entity who helps the transaction to happen by facilitating the information between customers bank, Card network and the merchants bank , payment processors and the payment gateway mandated to comply with the guidelines laid out by PCI DSS .
Parties Involved with credit card processing are Customer , Merchant, Payment Gateway, Credit card processor, card network (Visa, Master, JCB, AMEX etc.) Issuing bank(Customers bank who issued the card ) Acquiring bank (This is the bank used by merchant to receive and hold their funds).
An acquiring bank can also sometimes act as a Credit card processing.
Credit card fraud protection and security
To protect Customers from credit card fraud, it is important to find a processor who priorities and gives an ample security for the transactions such as
•PCI compliance
•EMV compliance
•The option to enter additional card data, such as a security code or the clients zip code
•Proven track record of staying on top of evolving security technologies, such as biometrics, tokenization, and end-to-end encryption.
Business of all sizes can take advantage of APIs powered by Payments Clarity to process online payments. When processing an online payment, the customer, business (you), credit card network, payment processor, and bank all play a role.
With Payments Clarity, you can run your entire business at the point-of-sale, like a metaphorical cash register. At this point, the card is swiped and the bank issuing the card receives the information. Transaction data, such as debit cards and credit cards, is analyzed by the payment processor and transmitted to the issuing bank.
In addition to performing these tasks, Payments Clarity also authorized funds transfers between buyers and sellers. An alternative payment processor works directly with banks, card issuers, and payment methods such as PayPal. By offering online credit card and Echeck payment processing, Authorize.net supports small businesses.
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