REPLICA CREDIT CARD PROCESSING ISSUES WITH
INTERNATIONAL CREDIT CARDS
Credit Card is one of the
most innovative tools that exist today.
The primary reason for its popularity is
its core concept which is “Buy Now Pay
Later”. It means that the holder of the
credit card can buy what he wishes too
even though he does not have money now
and pay for it later. Also, he can
either pay the full amount or pay it in
instalments. There are several other
advantages of credit cards.
To accept credit cards
you need to have a credit card processor
associated with your business. To accept
international credit cards then you
should have a processor who processes
this kind of cards. Some of the
processing issues with International
Credit Cards are:
Deferred Processing
This technique is a lot
cheaper that the real time processing of
credit card. It is much simpler to
implement and does not require a secured
gateway. The absence of a secured
gateway in the system does not imply
that it is not safe. Most customers will
not even know whether your payment
processing system uses deferred or real
time processing.
“Deferred Processing”
permits the processing of credit cards
in the manual mode. This method does not
have the level of automation that exists
in the real time processing system. It
is slightly slower and a manual process.
Processing of several orders on the
terminal is an every day task. Also,
there is a high potential for errors. A
number can easily be mistyped by the
operator resulting in an unsuccessful
transaction.
How does the “Deferred
Processing of Credit Card Payments”
work?
1)
Customer chooses a product and adds it
to the shopping cart.
2)
The web connection enters the secure
mode while the customer will enter the
payment details. Then the information is
encrypted and sent from the customer’s
computer to the server.
3)
The customer will finish the order and
quit from the site.
4)
The vendor or merchant will process
those orders after some time through a
credit card terminal.
5)
The terminal will report back to the
merchant with the status report which
can be either approved or denied.
Processing of
International Credit Card
Because of security and
to protect your business from fraud, it
is advised that you should not accept
these credit cards. Provide your
international customers with other
alternatives like wire transfers or
international money orders. Taking
payments through International Credit
Cards is very risky due to numerous
reasons. The most important reason is
you cannot verify the address. So if
your foreign customer uses a stolen card
to pay the bills then you will get stuck
with. You will have to pay additional
fees apart from refunding the money. To
insult you more, you are required to pay
the charge back fees.
International Orders
Catering to international
orders is a very complex issue. Mainly,
the problem is the payment concern that
is described above. Then, you are stuck
with the shipping charges which is very
expensive. Contact
one of our helpful account
representatives to assist you in the
setup of
a
high risk merchant account or
offshore merchant account for a
high risk merchant. |