PayHub Explains Credit Card Processing | Internet and Businesses ...

Many people do not understand the steps involved in a typical retail credit card transaction. Here is a step-by-step explanation of the transaction process found in our blog at PayHub.

Step 1??? The consumer purchases goods or services from the merchant.

Step 2?? The merchant transmits the transaction to the acquirer, by sliding the card ?????? ????????????? ??????????? through the terminal or magnetic stripe reader.? The most common device is a credit card processing terminal.? If the device cannot read the card, the merchant will manually enter the card information.

The terminal then transmits the sales authorization request via a standard phone line, internet, or cellular connection to the acquiring bank.

?Step 3?The acquiring bank? routes the transaction to a processor and then to the associations ? Visa System (Visa Net) or MasterCard System (INET).

Step 4??The association system then routes the transaction to the issuing bank and requests an approval.

Step 5???The issuing bank sends back the? response.? If the cardholder is approved, the???????????? ??????????? issuing bank assigns and transmits the authorization code back to the association.

Step 6???The association then sends? the authorization code back to the acquiring bank.

Step 7?? The acquiring bank routes the approval code or response to the merchant terminal.? The merchant terminal prints a? receipt for the cardholder to sign, which obligates the cardholder to pay the amount approved.

Step 8?Issuer bills the consumer.

Step 9?Consumer pays the bill.

Continue to learn with us at payhubpaymentprocessing.com

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