Credit Card Processing Is Essential in the Digital Economy No matter if you are an e-commerce dealer or you own a brick and mortar business, for regular functioning it is extremely important to have a dependable merchant services provider. RapidCents offers these tools to businesses that need assistance in navigating complicated credit card processing and obtaining the types of services they require for efficient transaction management.
Credit Card Processing 101
Credit card processing is the sequence of tasks between a merchant and a credit or debit card issuer to process a payment. It is a multi-party process including cardholder, merchant, acquiring bank, issuing bank and card networks like Visa, MasterCard or American Express. The way it usually goes is as follows:
Authorization: The customer’s card details are sent to the merchant’s point-of-sale (POS) system or online payment gateway during a purchase made by the customer. That information is transmitted to the acquiring bank, who prompts approval with the cardholder’s issuing bank.
Authenticating: The bank sends back the information to alert whether or not the purchase can be completed.
The issuing bank must approve or decline the transaction once verifying the information. A confirmation message is sent back to the merchant and then they finalize the transaction.
Settlement – Transaction ApprovedThe transaction is finalized and the funds are transferred from the issuing bank into your account, typically within 1 -2 business days.
The crucial role of Merchant Services for businesses
At its core, these financial services which provide the means for a business to accept and process credit card payments are combined under “merchant services”. Payment gateways, POS systems, mobile payment solutions, etc. Selecting the appropriate merchant services provider will guarantee that your payment transactions run smoothly, securely and efficiently. Some of the benefits available when using merchant services former include:
A merchant services platform such as RapidCents can process an array of payment options including Credit Card, Debit Card, Mobile and Digital Wallet payments. Giving customer more choice when it comes to how they can pay means customers leave happier, may spend more and are less likely to make excuses why they can’t buy.
Safety: Because payment transactions are a high-risk area in terms of data breaches and frauds, merchant services providers ensure the security around payment transactions. RapidCents ensures PCI-compliant services so that sensitive cardholder data is safe behind encryption and tokenization.
Efficiency — Time is money, and the faster your payment system operates, the more sales you can clear. Credit card processing Streamlines transactions so that the customers get faster service, cutting their wait time, improving the customer experience.
Fraud Protection: The merchant services comes with the fraud detection and prevention tools which reduces the chances of fraud transactions for any business. These tools include advanced algorithms to identify suspicious transactions and reduce chargeback cases.
Reporting & Analytics — Real-time data is a treasure-hoard for businesses looking to monitor sales, trends and make educated decisions. One of the features in RapidCents merchant services is a set of reporting tools that can tell you how your sales are performing and provide access to transaction history.
RapidCents a Proven Resource for increasing Credit Card Processing and Merchant Services
RapidCents is a leader in providing brand new credit card processing solutions, from small businesses to mid-size escorts performing well over $1M/year. Use our merchant services to streamline payment processing and enhance your checkout flow, whether you’re a small startup or an established enterprise.
Below are the benefits that you will get in credit card processing by RapidCents:
Blazing fast transaction: Our platform is designed to be fast so that your users can smoothly payrollers. High transaction volumes Do not worry about your business scaling with us.
Safe & Secure Payment Processing: At RapidCents, your security is of paramount concern. We use cutting edge technologies in encryption and meet PCI DSS (Payment Card Industry Data Security Standards) to secure cardholder data. Businesses are further protected through our fraud detection tools, as well.
Global Payment Solutions: This one allows you receive payments from all over the world and offers multi-currency help with universal payment gateway. If your customers are local or international, we work with you to make sure transactions get processed securely and effectively.
Low and Transparent Rates: We believe that professional services should come with low costs, so we offer the most competitive prices around. You pay per plan and our pricing model is fair and scalable, making it cost-effective no matter how big or small your company may be.
Customer Support: Obviously, payment related things can happen every time and we are here for you all the time. You can reach our merchant account & credit card processing team 24/7 for help with any questions you have.
Why RapidCents for Your Merchant Services?
Here is a fun fact….As anyone who owns their business can tell you, picking a merchant services provider has an outsized impact on how their business performs! Why So Much Better With RapidCents For Your Credit Card Processing?
Tailored solutions for your business: We understand that no two businesses are the same, we don’t believe in a one size fits all approach to using Eyvo’s payment processing capabilities.
Test Scalability: Our services are scalable as your business will scale. Whether you experience fluctuations in transaction volume or need to add new payment methods our platform makes your payments system flexible and is built for scale.
Years of Industry Knowledge: We have worked in the payment processing industry for several years and know the challenges that businesses en face and we are equipped to provide you with expert solutions.
Every business that wants to compete in our fast moving digital economy should invest in quality credit card processing and merchant services. RapidCents provides tailored, secure and scalable solutions that will accelerate your payment processes, improving customer experience and enabling business growth.
