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IN WHAT WAYS CAN CREDIT CARD BE
ACCEPTED?
Credit cards are accepted through
various terminals and online gateways.
It is not that a customer gives the
credit card and the merchant accepts it
as a payment. But the credit card has to
be processed through the credit card
terminals and various other modes of
card processors.
Merchants usually accept various credit
cards to receive payments from the
customers.
Internet is a must to accept credit card
from the customer. On the internet,
there is a POS (Point of Sale) terminal
which is totally based on the web. This
system helps to accept and process the
credit card online. A computer and
internet connection is required for the
functioning of the POS terminal. Other
hardware and telecommunication device is
not actually required.
One of the examples of the card
processor is the Orbital Virtual
Terminal which is the most reliable and
convenient system. A set of
comprehensive payment and management
function is offered by the virtual
terminals. It includes shipping,
retrieving, reviewing the batch
processing and so on. Batch processing
is done automatically by the virtual
terminals or a merchant may customise
the virtual terminal to a manually
operated system. The reports of the
batch processing are generated at the
end of the day or a merchant can view
the record during the day by simply
logging in to the virtual terminal.
With the virtual terminals that process
the credit cards, a merchant can easily
look into the orders undertaken
previously. These terminals provide a
safe transaction. While logging in, a
merchant may be asked to key-in the
password multiple times in order to
maintain safety. The system specializes
in processing of the credit card
transactions, capturing of bad credit
cards, making refunds and also authority
inclusion.
The other mode of accepting credit card
is through mobile billing system. This
is carried out through a cell phone that
we use in our daily lives. In this
process, the credit card information has
to be typed in from your cell phone to
make payments or it can also be done by
making a call to some toll free number
and following the instructions of the
IVR (Interactive Voice Response) system.
The processing of the credit card
through a cell phone will cost around
ten dollars per month which is cheaper
as compared to other means of making
payment but there are some high level
companies that charge up to thirty
dollars in a month. Unlike the credit
card terminals, cell phone processing
takes two working days for the funds to
be deposited into the respective account
whichever bank in the country. There is
no need of buying computers, printers
and terminals like in credit card
terminals but only a cell phone is
required.
Technical background of these services
provides a toll free number which is
useful to the merchant to ask for any
kind of assistance regarding the cell
phone payment systems. The processing of
the credit card through the cell phone
is done by calling these toll free
numbers and following the instructions
accordingly. All transactions are
encrypted to a high level of security to
assure a safe transaction. |
