Credit Card Processing

A merchant account is basically a contract between a bank and the merchant which allows the merchant to get all the transactions made while buying their products in return of a reasonable fee to the bank. The acquiring bank or the financial institution provide his credit to the merchant, then process the customer’s credit card information and finally approves the transaction. 

Sometimes the banks don’t extend their services directly to the merchants and in such cases merchant account service providers deliver their services to such business owners. AMLSV is one of the leading merchant account providers which have been giving merchant accounts to many businesses. AMSLV has connections with large number of acquiring banks through which the merchant accounts applications are fast approved.  

How the payments are accepted or rejected? 

The transactions are done with the help of a payment gateway. A payment gateway is nothing but a place to pay for the items to be bought. It is similar to cash counter in retail stores. Many websites use the same payment gateway for accepting the payments online. The payment gateway can be connected with the shopping cart on the merchant account provider’s site. So, this way the payments done online are processed. 

After the order is placed by the customer along with the credit card information, the information is send to the payment gateway, which forwards it to the acquiring bank of the merchant. The bank further forwards the information to the card association, from where the information is send to the issuing bank of the card, which processes the balance available with the customer. Then the bank approves or rejects the payment made by the customer and also provides a valid reason for rejection. 

Many merchant account providers provide free credit card terminals and internet payment gateways and even free payment gateway software while others charge a low transaction fees. But the important thing is every e-commerce business should look for reliable and secure merchant account services.

AMSLV offers fraud-proof merchant account services for all types of business owners. We also offer PCI-complaint gateway through which you can keep a track of all transactions taking place and prevent chargebacks.