Credit Card Processing

Credit card processing is a vital part of any business. With the huge increase in credit card processing technology, it is making online, in-person, over-the-phone and wireless purchases easier than ever. In this article, we will cover some of the basics of how your business can accept credit cards and the different types of credit card processing.

Wireless Credit Card Processing
One of the most common and popular types of credit card processing is done wirelessly. This is because many people use their WiFi Internet connection on their laptop or smart phone to make purchases. This is also the same for the reverse situation. Merchants can easily use wireless technology to process credit cards and payment transactions. This is especially helpful for merchants who are constantly on the go, or not near their actual store to charge for purchases. Through wireless credit card processing, you can accept credit cards at events, trade shows or in the field. These types of credit card processing are extremely helpful for small business men and women who often operate as a one-person operation. This is a great convenience for customers who do not carry cash, and is more secure than accepting personal checks for purchases.

Online Credit Card Processing
Online purchasing through credit card processing over the Internet for web-based e-commerce and online businesses is becoming more and more popular. Online merchants have the ability to choose which merchant service is the best fit for them to process payments online. This is a convenience for both the merchant and the customer. It is a good way for any online business, whether small or large, to use merchant services to accept credit cards from their business website. There are several features required to successfully operate online credit card processing:

  • SSL certificate
  • Payment gateway
  • Shopping cart software
  • Merchant account
  • Web hosting service that is able to appropriately handle these online credit card processing features

MOTO Credit Card Processing
Mail Order/Telephone Order credit card processing is a common practice for taking over-the-phone purchases with a credit card. This is extremely common place for TV infomercials selling certain products or is a convenient alternative for those customers weary of placing credit card purchases online. MOTO works primarily for merchants that are in a card-not-present business model. MOTO works by the customer calling or mailing in an order with the following information:

  • Name of the cardholder as it appears on the card
  • Complete billing address of the cardholder
  • The entire credit card number
  • Security code, CVV or CVV2
  • The credit card’s expiration date

The credit card processing system confirms the credit card credentials with the card’s associated bank to ensure it is a legitimate purchase before the transaction can be completed. For the best merchant account services and credit card processing features we recommend Merchant Warehouse.

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