Batch Processing

Before a business or merchant can be set up to receive payments through debit or credit cards, it must first set up what is called a merchant account. A merchant account is a special kind of bank account, which monitors and tracks financial transactions associated with it, and allows an establishment to accept transfers of money for goods or services rendered to a customer. This account must be installed by agreement with an acquirer. An acquirer is a bank that processes and settles credit card transactions with assistance from a card issuer. Some commonly known acquiring banks would be Citibank, Capital One, or Bank of America.

The main four steps in the credit card processing cycle are authorization, batch processing, clearing, and funding (in their respective order as listed). Batch processing, also referred to as batching, is literally the second step in this cycle. Batch processing will normally not be able to take place until the end of a sales day, after the business or store closes.

A simple way to demonstrate just how this credit card processing step works would be as follows:
The customer goes into a local retailer to buy items, which could include general dry goods, groceries, electronics, tires, jewelry, clothing, or various other types of items that can be purchased. When the consumer gets to the register to pay for the items, he or she decides to use a credit card instead of cash. The retailer can accept the credit card payment, whether from Visa, Mastercard, Discover, or other issuer, because it already has a merchant account established with an acquiring bank. The cashier would swipe or scan the credit or debit card and wait for an authorization code to verify that the card is valid and there is credit available. The store cashier may also ask the customer for some form of identification or the person might have to put in a pin number to verify that they are the owner of the card. It is always very important to remember to get verification from the cardholder to help avoid delays in receiving payment at the end of the credit card processing cycle. It is also the responsibility of the merchant to get a signature from the customer authorizing the transaction. Once a transaction authorization is received from the acquiring bank through the electronic system, the cardholder would receive the product or purchased goods. After the store closes, the cash-register or computer would be prompted to run a batch report of all authorized sales that have taken place during that business day. The merchant would then send the batch to the acquirer to receive payment.

GET FREE QUOTE TODAY AND START SAVING


Testimonials

It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. CreditCardProcessing.com was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 CreditCardProcessing.com. All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon CreditCardProcessing.com's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by CreditCardProcessing.com.

Call (866) 837-0751 for details.