Why Pay Retail for Merchant Services?
Simple and reliable payment processing solutions for your business. Get Merchant Services specializes in cutting the cost period.
Online Payment Processing done right
We’re here to help your business with point-of sales equipment, payment processing, and software solutions. Get Merchant Services Phoenix, is Arizona’s leader of cutting costs and helping businesses stay resilient with accepting payments in store, online, or on-the-go.
Accept payments across all sales channels with Get Merchant Services.
The Three Parts of Payment Processing
The payment processing procedure can be divided in three parts – authorization, settlement and funding. Let’s go through them carefully.
For additional information, speak to our Phoenix merchant account specialist.
Authorization is a process by which you confirm if your customer’s credit card has enough credit to buy goods or services from you. The authorization process also confirms whether the card is valid or not. Authorizations can be obtained through an e-commerce website, a credit card machine or over the phone.
The process of authorization consists of a series of steps and the entire process takes place within seconds. First, the customer displays their credit card information to buy a product or service. This can occur online in person or over the phone.
Secondly, you communicate the card information to the Merchant. In a card-present environment, for example, by swiping the card and entering the price of the good or service you are sending the necessary data to make the transaction Merchant. Then, Merchant forwards your request to the specific card payment brand. These brand is usually Visa® or MasterCard®.
Afterwards, the payment brand (like Visa® or MasterCard®) sends your request to the card issuer (the bank). The issuer then processes the approval or decline of the transaction. The response is sent to the payment brand and the payment brand transmits the answer to Merchant.
Finally, Merchant forwards the response to you. This can be done via e-commerce website, your point-of-sale device or verbally over the phone. Now you have all you need to complete the transaction.
If the card is approved, you will receive an authorization number. If the card is declined, the purchase will not be completed. A third option is that the card can be referred. A referral is a request for further information from the seller or the cardholder before issuing the authorization. Merchant can receive a referral response as a security measure. If the event of receiving one, we will contact the issuer and request an authorization on your behalf directly.
Your customer considers that the sale is complete after leaving your store, hanging up the phone or logging off your website. But the sale is not complete for you. The transaction is still in process and now it has to be settled.
The process of settlement manages electronic payment transactions in order to fund them appropriately. To make this happen, you have to present all the approved card transactions to Merchant. After receiving them, we submit the approved transactions to the payment brands through interchange.
The funding process occurs when Merchant deposits money into your account in order to pay you for all the transactions that have been processed. Funding is actually an extension of the settlement process. Sometimes you may see these two processes explained interchangeably.
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Additional Services Areas:
Valley-Wide & National Services