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The Basics of Credit Card Processing

Credit Card Processing is a must in today’s business climate.

Taking credit cards allows your business to:

• Get Paid Faster
• Spend Less Time on Collections
• Save Trips to the Bank

We offer:

• Great Rates
• Expert Knowledge
• Options for Gift Cards, Mobile Processing,
Ecommerce, and Traditional Storefront Terminals

Credit Card Processing Machines

All of our credit card processing machines are ready for chip-based cards.

Stay Up to Date with Credit Card Processing

The Process – Credit Card Processing Made Simple

To understand credit card processing, it is important to first understand who the major participants are in the industry and the roles they play. Most people see credit card transactions as an item is desired, the cardholder pays [...]

I own a multi-location retail business and was introduced to Rick by my local chamber of commerce. Rick provided us a proposal indicating a 14% reduction in cost from our present provider. The cost savings were actually a little higher than his estimate. Our cost savings plus the knowledge and support Rick gives has increased our bottom line. He is a valued partner. I have referred him to several other businesses who agree.
Judy
We were having problems with our credit card processing and the original sales person that sold us the service was nowhere to be found. A local business referred me to Rick. He came in, asked many questions, gave us reduced pricing and installed two new machines within a week. That was three years ago and Rick still stops by a few times a year to see how things are going. He is the greatest.
Stephen

What to Look for?

FAQ in Processing

A payment processor can provde the services and equipment businesses require to accept consumer payments. These payments may involve credit, debit, prepaid cards and paper checks. Many payment processors also provide businesses the ability to accept payments via the internet, set up recurring payments, transform paper checks into electronic payments and other services.
• Cardholder
Makes a purchase using their card
• Merchant
Accepts the card as payment for goods or services
• Issuer
Provides the card to the cardholder and maintains
that cardholder’s account
• Payment Processor
Processes card sales for merchants
Accepting credit cards typically brings more traffic, higher average tickets and better customer service. Also, customers tend to spend more when they are paying with a credit card rather than cash or check.
You will receive a monthly statement that summarizes all activity.
From the time a business accepts a consumer payment to the time the business is paid, the process entails a number of steps. For this example, we will follow a credit card transaction.

1. Cardholder makes a purchase and the business records the card information, either by swiping it in a Point-of-Sale (POS) terminal, using a card imprinter, virtual terminal or by manual entry. The information is transmitted to a payment processor.
2. In order to send that transaction from the merchant’s POS to the issuer for approval and then later for posting to the cardholder’s account, the payment processor usually enlists the help of an authorization vendor.
3. The payment processor sends the transaction to a card brand.
4. The card brand submits the transaction to the credit card issuer.
5. The credit card issuer pays the card brand.
6. The card brand pays the payment processor.
7. The payment processor pays the merchant.
8. The card issuer sends the billed amount to the cardholder on their monthly statement. The issuer is paid when the cardholder pays their bill.

• A website, hosting service and secure server
• Shopping cart software
• Online payment gateway

• POS terminal, card processing software or virtual terminal
• Merchant account with a payment processor
• Business bank account to receive deposits from the processor
for consumer payments
Each merchant processor sets charges and fees for its customers and can provide you with an analysis to show you where you can potentially save money.
Depending on the services required, most businesses can start accepting credit cards within a few days.

What You Get with Rick Rheault the Credit Card Pro:

  • Expertise

  • Knowledge

  • Great Rates

  • No Hidden Fees

  • Full PCI Compliance

  • No Cancellation or Early Termination Fees

Have More Questions About Credit Card Processing?

Set Up a Free Consultation with Rick Rheault the Credit Card Pro.

As an independent merchant advocate, I leverage my 15 years of experience to find the best solutions and the best rates for my clients.

Find out more about credit card processing and what you need to get started by calling 413.204.1438 today.