- How does the Online Credit Card/Debit Card Processing Services Work?
Online Credit Card/Debit Card
Online credit/debit card payment is a
convenient way of doing transaction.
The process works in few simple steps.
The first involve collection of payment details.
A customer after picking the articles he/she wants to buy proceeds to the
check out page.
Here the person enters his/her card details.
Online merchant account services sends the card
details to the card holder’s bank.
The bank verifies all the input details.
If everything is okay, the process provides to the next stage
When the bank has verified the identity of the card holder, it checks if there
is sufficient amount of money in the card holder’s account
The financial institution also verifies if the card had been reported lost
After the final stage of the payment, money is transferred from the
card holder’s account to the merchant account of the seller.
Money from merchant account is transferred to the personal account of the
business after a certain number of days
You must also use credit card processing system for your business in
Montreal (people of Canada prefers to pay in virtual money).