How does a payment processor take money from a credit card and give it to a merchant on the backend?
112195
The merchant will usually receive deposits into their bank account daily for credit card sales. However, as a fee to process the credit cards, a "discount" of a certain percentage (anywhere from 2%-5%) will be taken out. The discount may be charged as a lump sum each month or your deposits into your account will be reduced by the amount of the discount on a daily basis. Credit card processors will send a monthly statement to help you balance to your actual credit sales and your bank statement.
1177827
That is ILLEGAL you can go to jail. If the person's Credit Card Company is nice then they may give the money back,
232597
Payment to what? your credit card? a person? a company?\n\nIf it is a company, use their web page..\n\nif it is a person ask them if they take paypal?
757172
provide data storage and transaction
1109146
If using paypal they take their cut
674978
I think there are quite a few agencies that can collect the payment for you. Most recommended is "Paypal".\n\nPaypal will give you some code that you need to put on your website then anyone can make payments through there creditcard and paypal will collect it for you.\n\nhttps://www.paypal.com/us/mrb/pal=SKTWSKBV45NPS
604171
You buy.\nThe bank pays the merchant (less a discount)\nYou pay the bank.\nThe bank pays the credit card issuer a fee\nThe merchant pays the credit card issuer a fee\n\nWorks well if you don't abuse it!!
149956
Some take paypal, which requires a link to a bank account. But it is very limiting as most sites require a credit card.
342626
If your debit card has the Visa or Mastercard logo on it, it works as a credit card too. If yours doesn't then talk to your bank and ask for a newer card, because these days almost all debit cards can be used just like a credit card.\n\nAMEX sometimes works as a credit card, sometimes not. It depends on if the merchant does business with AMEX. Same with Diners. The reason no one takes those cards any more is that all charge/credit cards (Visa, Amex, etc) make their money in part from fees they charge the merchant. Amex and Diners charge fees that are a LOT higher than Visa/MC. That's how they can stay in business and not charge the cardholder any interest.
51510
https://www.ezcardinfo.com/\n\nPlains Comerce Bank uses this service to handle thier payments.
408664
probably the same way a offline system works.... i don't have debt YET so i can't really answer... but depending on the size of the project, i wouls assume an online system would be a server, maybe SSL, a database, a team of people to input data, and then a way for you to manipulate the data to the debtor.???
929900
I haven't processed credit card payments for over 10 years, but the rule used to be that you had to accept any charge - even a 25 cent pack of gum.\n\nHowever, I don't believe they had any rules about whether or not the business could have a surcharge to cover their losses on the small transactions.\n\nBusinesses are charged a percentage of total transactions made on credit cards. The percentage is calculated by the average amount of each charge. For example, if your average customer charges $250, you may only pay a fraction of a percent. However, if the average customer charges only $20, you'll pay a higher percentage.\n\nSmall charges lower the average, so the business gets burned on small purchases.\n\nContact your credit card company and ask if they have any policy barring businesses from collecting a surcharge. They won't know unless someone tells them.\n\n.
159880
yes..it works like a debit card in a way if you dont have the money in there it wont accept it trust me been there done that.
539170
Yes you do.The very nature of ecommerce is to for the buyer to receive their product or service ASAP.Likewise the seller  wants to sell while the visitor is there.You could operate on checks and money orders ,but that involves additional cost(postage) and elongated time for the buyer to receive their product or service,as the seller has to wait for the check to clear and then ship.Many items(non tangible)do not require a shipping cost ,but if you have to send a hard copy,then you have additional shipping cost added to the cost of the product or service.This is the day of instant acquisition and gratification,and if the customer doesn't buy from you because you offer no way to pay immediately,they will buy from someone else.Sellers are not responsible for credit card debt,the credit card holder is,and its about time they shoulder the responsibility for their own mismanagement.
479447
Sure you can.  Go ahead and continue through the payment process.  As long as you don't commit the transaction, it won't be posted.  If you run into issues, just contact customer care and they will be glad to take your info.
568903
You must have a merchant account to process credit card payments. You can apply for a merchant account from your bank or merchant account providers. You will receive the money paid less processing fees charged by Visa/Mastercard/Amex/Discovery + fees by your merchant account provider.\n\nIf on the Web, you can choose to get a payment gateway services such as Verisign Payment Services http://www.verisign.com/products-services/payment-processing/online-payment/index.html whereby when a buyer puts in their credit card information, everything is automatically done and put into your bank account. Otherwise, you can manually input the credit card information into a credit card processing machine.
980062
The credit card company will reverse the payment to the merchant and they will lose out in the end.