Learn about how credit card processing works. Understanding the intricacies of payment processing can help you to run your business better.

When a customer makes a purchase using a credit card, it triggers a cascade of activities and transactions. Here’s what happens:

  1. Your customer gives you (the merchant) a credit or debit card or card information, via an on-site card swipe, phone or website.
  2. The merchant submits the transaction to the acquirer, who sends the information to the customer's card issuer for authorization.
  3. The card issuer sends authorization – that the card number and amount are valid – back to the acquirer.
  4. Next, the acquirer processes the transaction for the cardholder. This requires that the acquirer send the transaction to the card association, which debits the issuer for payment and credits the acquirer.
  5. Once the acquirer has been paid, the merchant receives payment – an amount equal to the transaction amount minus the discount rate, which is the fee the merchant pays the acquirer for processing the transaction.

Your time is more than valuable — it's precious.

Did you know some merchant account providers can take a week or longer to get you up and running? Not Envelo Bank Card Services Worldwide. With our fast-track application and approval process, we get you set up — or switched — fast, usually in less than 24 hours. And the faster you get set up with us, the faster you'll enjoy all of the other benefits that come with being an Envelo BCSW merchant.

Contact us right now and save time and money.

Click here to get started or call us today at (843) 353-0080.