TRUST YOUR BUSINESS TO THE INDUSTRY EXPERTS!
From stalls to retail stores, restaurants to contractors, more businesses accept credit cards because more consumers want to pay with them. Credit cards aren’t just one of the most convenient ways to pay, they allow both businesses and consumers to track spending, earn rewards and enjoy a host of security benefits. Businesses that don’t accept credit cards risk sending their customers to the competitors that do. That is why owning a credit card processor is a must as a business owner whether you need credit card processing products or credit card processing for gas stations.
For start-ups, very small businesses, or home-based businesses, it is not always a given that your business will be granted a merchant account. It may be best to apply for merchant account status with the bank with which you already do business. Banks view granting a merchant account as an extension of credit and will evaluate your business as such. Your business generally has to have been in business for up to 2 years.
How does credit card processing work?
Here's how the process works. Your customer pays with their credit or debit card. CardConnect, as your payment processor, receives the payment details and reviews them for potential fraud, before forwarding them to the card association or bank that issued your customer's card. Once we are able to verify your customer's credit card details, we relay that information back to you the merchant via one of our secure, online payment gateways, who may then complete the transaction. If verification is denied by the card association/issuing bank, we will relay that information to you (the merchant) who can then decline the transaction. All of this happens in a matter of just a few seconds.