The entire process for credit card processing is a multi-step process between numerous entities. Still, approval for a customer order happens in a matter of seconds. All in all, the entire settlement process takes a few days. This article lays out each entity and each step in the process.
This article explains types of credit card fraud and provides steps for what to do, as a merchant, if you suspect credit card fraud.
A business needs a payment service provider, also known as a third-party payment provider, payment facilitator, or processing aggregator, to take credit card payments without a merchant account.
A merchant account is a bank account that receives electronic transactions such as credit card payments, debit card payments and ACH payments. It’s required for any business that offers online payments because it is the only way these funds can be received.