Make a payment by credit card has become a simple action for everyone. Traders use the card readers in an easy intuitive process and customers are used to paying by inserting the card into the device or bringing it closer to the pos NFC for contactless payments. While card payments are an everyday gesture, many people are wondering how the process of developing a payment by credit card.

We are here to answer that question…

The process of elaboration of each payment by credit card takes place in an instant (with times ranging between 3 and 15 seconds), but actually requires a complex series of steps:

process of developing a payment

  1. The holder of the credit card presents the card (or the card number, expiration date and security code) to the merchant.
  2. Your credit card details are sent to the provider of high-risk merchant services using POS terminals, such as mobile card readers or contactless payments.
  3. The payment service provider of merchant communicates the payment information with the circuit card (such as Visa, MasterCard, American Express, etc.)
  4. The circuit calls on the bank of the cardholder if the funds are available. In the event of an affirmative answer, payment by credit card is authorized.
  5. The issuing bank notifies the result of the transaction circuit (approved or rejected).
  6. The circuit communicates the result to the provider of merchant payment services.
  7. The dealer gets the result of the payment by credit card and is issued a receipt.

It should now be clearer how the payment process by credit card for contactless payments and not. It is important to know that providers of payment solutions as Shark Process meet safety standards set and are equipped with EMV and PCI certifications. With high risk PSP, sensitive data is not stored and the data of contactless payments, with chip and magnetic stripe, is encrypted.

At no extra cost, all entrepreneurs can request a new service of payment remotely. This feature allows you to accept card payments easily and safely, for example, the phone; simply just by entering the data of your customer card.

With the launch of the remote payment, function users have the opportunity to significantly increase sales by as much as 10%. The transactions carried out with the remote payment function can represent 25% of the transaction volume and the service will surely be much required. Your customers want the flexibility and efficiency of the payment remotely.