Credit And Debit Card Processing

Is it like processing the money from the bank to the card and deducting money off the card when you use it?

My dad just opening a credit and debit card processing company that I have to work for this summer...too bad I'm not what it is. Care to help me out? haha

If a business wants to accept Visa and MasterCard, as well as American Express and Discover Card, you need to go to a company that has the necessary relationships to do this. You can't go to Visa and MasterCard directly (although you can actually go to American Express and Discover Card directly but typically people let their Visa and MasterCard agent set those up for them as well).

Your dad's company will have that relationship and will help companies accept credit cards by establishing their merchant account and providing them with the equipment they need to physically process their sales. You'll make money not only from selling the processing equipment but you'll also get a small percentage of each transactions they process. The more your clients process, the more money you make.

The link below should help you get a better understanding of the finer details

2009-01-12 17:53:30 by sweetnj609

Overview of the x-charge credit card software. Microsoft Windows program that processes electronic payments using credit cards, debit cards, and ...

It has only happened a few times, but I remember watching a news expose on stores and gas stations charge the credit card fee to the customers.

Does anyone know if this is legal? It recently happened to me at a fast food restaurant (Church's Chicken).

First they wouldn't take a credit card (only debit), then they asked for my pin (WTH?), then after processing it, they told me there was a $0.79 processing fee for debit transactions.

Is it legal or not. There is a lot of gray area. However they could receive a hefty fine from Visa/MC. Visa/MC policy states that a merchant can not charge any additional fee's for credit/debit transactions. Also I am sure you have seen stores were they have a sign near the register "$10 min purchase". Once again a big no no. I would first go back and request your .79 back, its not the money but the principal. Then whatever happens I would contact Visa/Mc and file a formal complaint. I have seen first offenses result in $10,000.00 fines. I work in the merchant services industry. Just in case you wanted to file a complaint, you would contact the issuing bank for your card (more than likely your bank because it is a debit card) explain what happened and state you would like to file a formal complaint to Visa/Mc. They have the required forms. Happy hunting

2009-03-03 13:54:33 by Jeremy B

The i5100 is configured for Dial-up or Ethernet (with Dial back-up) to enable retailers to leverage DSL and other
high speed communication methods to reduce communication costs while streamlining authorization.
The i5100 was designed for fast transaction

Hi everyone

Can anyone pls tell me exactly wat are the debit card & credit card process steps?
i am not asking about which card is good or bad. m asking about implementing it. i mean how these both cards works?
actully m developing an application flow chart in which i need to draw flow chart for credit & debit card process.
pls help me.

You do not have to invest plenty of money to buy credit card processing equipment. You just have to use the merchant account services account, purchase or rent a credit card processing unit, and you can start. Fit it into your electrical connection or use a wireless unit when you are on the move. This ensures credit payments are simple, quick and safe. You can expect to pay a transaction fee of 25 cents for each transaction or a reduced monthly interest with minimums. Other expenses can consist of discount fees, gateway fees, print statement fees, and membership costs. There may be other miscellaneous expenses too. But on the whole, positives of a merchant account are more than the negatives.

2007-02-28 01:08:40 by muk

Integrated inkjet printer and check MICR reader
Full reporting capabilities for all payment types
Compact design

I own a small business and receive so many offers in the mail about merchant processors but which ones are really the best for process credit/debit cards??

Get a merchant account from Costco.

2007-12-12 12:08:19 by c_rock_graph

i need merchant services for online, over the phone and through the mail sales. i might need overseas payment processing services too.

Simple Payment Systems is truly the absolute best for credit card and electronic check processing. The electronic check processes the check like a credit card. The check is deposited into your account ASAP from your business. If it is bad you know right away. They process debit cards ,credit cards, gift cards, and of course checks, as I mentioned above. You can process online, mail and by phone. Overseas transactions you would have to ask about. I am not sure.
I have done research for a long time. They give you free equipment, free training, free software- with a check out cart! (If you have a web site also that you want to sell items on.) They beat discount rate quotes that you give them too. They have 24 hour live help, which is handy. FDIC insured. Make sure you tell them you want the free program. We switched from another company over to them. And have never been happier. Go to their web site and call them or fill out the form and they can contact you. At least they can give you some direct answers also. :-) I did countless hours of research! Trust me they are the BEST. Best wishes!

2007-12-11 02:55:40 by busby wong