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Certified Credit Card Processing Networks

Certified Credit Card

Payment Gateway allows merchants to accept credit cards and other forms of payment in a secure, real-time environment, directly from their website, through Mobile devices, and directly from their place of business.

Realtime authorizations ensure the validity and accuracy of each transaction and merchants get the added convenience of having funds deposited directly to their specified account(s). With a payment gateway, merchants can have many users entering transactions from various locations, all at the same time.


Certified Credit Card Processing Networks

Typical Visa transactions have four parties:

  • The merchant is any entity – a store, restaurant, online retailer, hotel or airline – that accepts Visa as payment.
  • The acquirer is a financial institution that enlists merchants to accept Visa payments and ensures they get paid for each transaction.
  • The issuer is a financial institution that provides Visa-branded cards or other Visa-branded payment products to consumers and businesses. In the event of a Visa-branded credit card usage, the issuer “lends” the consumer the funds to complete the transaction. If it is a debit or prepaid card transaction, the funds are automatically withdrawn from the account and transferred to the acquirer.
  • The account holder is any consumer or business using a Visa card or other Visa-branded payment product to make purchases.

A Seamless Global Process

A Visa transaction is a carefully orchestrated process. When a Visa account holder in Mumbai uses a Visa card to buy a pair of shoes, it’s the acquirer – the merchant’s bank – that reimburses the merchant for the shoes. Then, the issuer – the account holder’s bank – reimburses the acquirer, usually within 24 to 48 hours. Lastly, the issuer collects from the account holder by withdrawing funds from the account holder’s bank account if it is from a debit account, or through billing if it is from a credit account.

What is a merchant account:

A merchant account is a credit card processing or debit card processing account with a bank that is a member of the Visa and MasterCard associations. Such a bank has a certification from Visa and MasterCard associations and can provide you, the merchant, with all the services related to your merchant account. Once your merchant account is set up and “live” on the credit card system, you can start the real-time processing of a credit card.

What is Real-Time Processing?

A real-time credit card processing system is a transaction processing system that functions as a payment service using a secure transaction server on the Internet. Merchants with a valid merchant account can use the system to submit, authorize, capture, and settle a credit card or eCheck transaction without the need for a separate transaction terminal or processing software.

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