How Do Credit Card Transactions Work

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💳 Here’s what happens when you run a credit card transaction. • • One. The customer swipes or inserts their credit card, or the seller types in their credit card information. • Two. The credit card information is sent through the seller’s payment gateway to the network/acquirer, an entity that verifies transactions and also moves money from account to account. • Three. The network requests an authorization from the customer’s bank, called the card issuing bank. • Four. The card issuing bank checks the customer’s account to make sure they have the credit or funds available. The bank authorizes or denies the transaction accordingly. • Five. The network receives the response from the card issuing bank and sends it back to the payment terminal. If authorized, the transaction will go through. • Six. These authorized transactions accumulate throughout the day. They form what’s known as a batch—a collection of authorizations. • Seven. At the end of the day, the network collects the funds for every transaction and deposits them in a lump sum in the business’s merchant account, a special bank account for receiving credit card transactions. • Other helpful blogs: • ➡️ How to Secure Credit Card Transactions Online • https://ebizcharge.com/blog/how-to-se... • ➡️ How Credit Card Processing Works • https://ebizcharge.com/blog/how-credi... • • Discover the #1 integrated payment platform with EBizCharge. Enjoy lower credit card processing rates with transparent flat rate pricing, no contracts, and no switching costs. • Call now for a complimentary cost savings analysis. • ⚡️ https://www.ebizcharge.com/ • 📞 (888) 500-7798

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