Card Category: All Business Charge Foreign Poor Credit Pre-Paid Regular Reward - Airline Reward - Auto Reward - Cash Reward - Finance Reward - Gas Reward - Hotel Reward - Retail Reward - Sports Reward - Travel Reward - Other All Reward Cards Secured Student Intro APR: All 0.0% 1.9% or Less 2.9% or Less 3.9% or Less 4.9% or Less 5.9% or Less 6.9% or Less 7.9% or Less 8.9% or Less 9.9% or Less Time Period: All 3 Months or More 4 Months or More 5 Months of More 6 Months or More 7 Months or More 8 Months or More 9 Months or More APR (Purch.): All Less Than 6% Less Than 7% Less Than 8% Less Than 9% Less Than 10% Less Than 11% Less Than 12% Less Than 13% Less Than 14% Less Than 15% Less Than 16% Less Than 17% Less Than 18% Less Than 19% Less Than 20% Less Than 21% Less Than 22% Less Than 23% Less Than 24% Less Than 25% Annual Fee: All $0 $10 or Less $20 or Less $30 or Less $40 or Less $50 or Less $60 or Less $70 or Less $80 or Less $90 or Less $100 or Less $110 or Less $120 or Less $130 or Less $140 or Less $150 or Less

Credit Card Processing:Step by Step Processing

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Author: Jack Chevalier

Article source: http://www.paynetsystems.com/. Used with author's permission.

This includes general information with a shipping address usually. This follows with the consumer entering payment information either into a form secured by a protocol or into an application, such as Internet Explorer or Netscape Navigator. With the secured form, the payment information is protected by Secure Sockets Layer as it is sent to the merchant. Using the payment software incorporated in the Web server, the merchant sends the encrypted transaction to the acquiring processor for authorization. The authorization is a request to hold funds for purchase. The acquiring processor either authorizes a certain amount of money or declines the transaction. An authorization reduces the available credit limit but does not actually put a charge on the customer's bill or move money to the merchant. If the transaction is authorized, a "capture" is the next step. The capture takes the information from the successful authorization and charges the authorized amount of money to the consumer's credit card merchant service. In line with bank card association rules, the merchant is not allowed to capture transactions until the ordered goods can be shipped, so there may be a time lag between the authorization and the capture .If the consumer cancels the order before it is captured, a "void" is generated; if the consumer returns goods after the transaction has been captured, a "credit" is generated.

The final step is to "settle" the transaction between the merchant and the acquiring processor. Captures and credits usually accumulate into a "batch" and are settled as a group. When a batch is submitted, the merchant's payment-enabled Web server connects with the acquiring processor to finalize the transactions and transfe the cash to merchant bank account