Processing On The Fly!

Online Processing!

When your business processes credit cards information through a retail website for online transactions the process works as follows the customer adds or removes products from the virtual shopping cart where they checkout when finished. They then enter their billing information. A secure payment gateway is used to process the transaction. The processor passes the information onto the bank that issued the credit card for verification.

The bank will then set aside the purchase amount for the merchant, and will send back an approval number or decline message to the processor.

The gateway then passes the approval code back to the merchant and the merchant can send a confirmation to the customer. The final payment is then deposited in the internet merchant's account. The deposit typically takes a maximum of two business days from the time of the original transaction for the funds to reach the merchant's checking account.

MOTO Processing!

When your business collects credit card information in an environment where the customer and credit card are not physically present at the time of purchase you are using a Mail Order Telephone Order (MOTO), because the information is transferred by mail or telephone process. As the merchant receives the credit card information either by mail or phone the information is entered into the terminal or other payment gateway it then connects to Merchant Now's processor for authorization. The information is then checked by the bank for validation. Once the card has been approved the costumer can sign the printed receipt and the transaction will be completed. Depending upon the wireless service provider wireless merchant transactions can be performed anywhere across the nation.

At the end of the MOTO credit card process the merchant can automatically settle the transactions at a specified time each day. The funds are then transferred from the card issuing bank and are electronically deposited into the merchant's checking account. Deposits typically take a maximum of two business days from the time of the original transaction for the funds to reach the merchant's checking account.

Even Wireless!

Wireless credit card processing adds speed and mobility in your transactions. The process is similar to a hard line connection but often works much faster. The process begins with the merchant sliding the customer's card through the credit card terminal. The terminal then connects to Merchant Now Financial's processor for authorization. The information is then checked by the bank for validation. Once the card has been approved the costumer can sign the printed receipt and the transaction will be completed. Depending upon the wireless service provider wireless merchant transactions can be performed anywhere across the nation.

At the end of the process the merchant can automatically settle the transactions at a specified time each day. The funds are then transferred from the card issuing bank and are electronically deposited into the merchant's checking account. Deposits typically take up to a maximum two business days from the time of the original transaction for the funds to reach the merchant's checking account.

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This type of credit card processing is where the merchant slides the customer's card through the credit card terminal. The terminal then connects to Merchant Now Financial's processor for authorization. The information is then checked by the bank for validation. Once the card has been approved the costumer can sign the printed receipt and the transaction will be completed. The estimated time is 15 seconds per credit card processing transaction for a credit card terminal with a dial up connection and 4 seconds with a cable connection.

At the end of the process the merchant can automatically settle the transactions at a specified time each day. The funds are then transferred from the card issuing bank and are electronically deposited into the merchant's checking account. Deposits typically take up to a maximum of two business days from the time of the original transaction for the funds to reach the merchant's checking account.