Business credit cards processing seminar abstract, an introduction
Credit card processing or Business credit cards processing may seem to be a complex procedure by many, but it requires proper understanding. For those who are not able to understand that how the credit card processing is done can understand this through some very simple steps described here. I am explaining the basics of Credit Card Swiping and the underlying mechanism.
Purchasing The Products
In order to understand the processing of credit card the first and obvious step would be to make a purchase. After buying the item the customer opts out credit card payment from the mode of payments in a store, on a website and so on.
Punching The Transaction
The person present at the payment desk swipes the credit card through a secure credit card terminal and the required information like card number and card holder name is entered. It is important to give the card holders name while making an online purchase.
Process thereafter
After this the credit card information is transferred for approval and it could be either accepted or rejected. Upon acceptance the card holder and the seller are informed and the transaction is completed. At the end of the day the seller completes the whole process with a batch closure and the bank collects the payment. Within 48 hours of Batch closure the acquiring bank deposits the money in the merchant business account.
We prepared and published this seminar abstract for final year engineering students seminar research. You should do your own research additional to this information before presenting your seminar.
Please include "Reference: Collegelib.com" and link back to this page in your work.
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Credit card processing or Business credit cards processing may seem to be a complex procedure by many, but it requires proper understanding. For those who are not able to understand that how the credit card processing is done can understand this through some very simple steps described here. I am explaining the basics of Credit Card Swiping and the underlying mechanism.
Purchasing The Products
In order to understand the processing of credit card the first and obvious step would be to make a purchase. After buying the item the customer opts out credit card payment from the mode of payments in a store, on a website and so on.
Punching The Transaction
The person present at the payment desk swipes the credit card through a secure credit card terminal and the required information like card number and card holder name is entered. It is important to give the card holders name while making an online purchase.
Process thereafter
After this the credit card information is transferred for approval and it could be either accepted or rejected. Upon acceptance the card holder and the seller are informed and the transaction is completed. At the end of the day the seller completes the whole process with a batch closure and the bank collects the payment. Within 48 hours of Batch closure the acquiring bank deposits the money in the merchant business account.
We prepared and published this seminar abstract for final year engineering students seminar research. You should do your own research additional to this information before presenting your seminar.
Please include "Reference: Collegelib.com" and link back to this page in your work.
Subscribe via email for more Latest topics
12 Steps to boost your innovative project ideas