How Does Online Credit Card Processing Works?
When speaking about credit card processing, there are two ways which we all are familiar with. One is offline processing, i.e. physically swiping the card at POS machine, and another is online processing that everyone might have used during online shopping. This question focuses on online credit card processing.
What Are The Stages Involved In Online Credit Card Processing?
When we talk about online credit card processing, there are four stages involved in it. The first stage is inputting the required credentials. In this stage, we have to input our credentials like the credit card number, your CVV number, and all the other required details.
Once this stage is over the next stage performs the validation of the credentials which you have entered by checking it in the database. If your credentials match the credentials to which stored in the database, then it takes you to the next page else if it does not match then it will prompt a message saying that credentials are invalid or something like this.
In the third stage, the transaction request is sent to the servers of the credit card company. Now comes the great part, and that is servers can either accept the request or reject the request based on several parameters. The parameters include the track record of the user, i.e. whether he has cleared all his past debts, whether he is a defaulter for that company, etc., etc.
Once your request is accepted by the server the total amount which you are supposed to pay gets added to your debt, and an acknowledgement signal is sent back to the web page, and then the web page generates an acknowledgement receipt which you can see on the computer screen.
How To Perceive The Whole System?
Now one should remember that all this happens over the internet and in the blink of an eye. Thus it is very important to design such a system with great precision because a small failure in the system can result in a big loss for a business or the user.
In order to enjoy a safe and reliable payment processing for your business, it is vital to have an online credit card processing solution from a reputed provider. Here at Quadrapay, you can get the best and most reliable payment processing solutions for your business at most affordable processing rates. To know more about solutions, get in touch with our team at [email protected] or fill the merchant application form.