Credit Card Processing in NJ
Credit card processing in NJ starts with the swipe of the stripe, reading the chip, or somehow getting a consumer’s credit card information into a payment processing system for purchase approval. For a business there is no more important transaction to revenue stream than processing a payment, particularly a credit card payment.
Elite Merchant Services provides credit card processing in NJ. Our point of sale systems power bottom line credit card processing in millions of transactions every day.
Here’s how we do it:
- Collect consumer credit card payment information
- Communicate the information to the consumer’s bank
- Verify credit standing/approval
- Communicate results to merchant
Collecting credit card information for credit card processing in NJ
The front end of credit card processing is gathering the card information from the consumer. This transaction is done in a few ways. The most common transaction merchants in NJ present payment processing companies like Elite Merchant Solutions is through a point of sale terminal.
At the point of sale, the consumer presents their credit card to the POS device. The device can be either a stand-alone card reader, a card reader integrated into a combination POS system, or a mobile POS card reader.
Once the information is obtained, it is communicated upstream through the payment processing company for verification.
Communicating credit card information and credit card processing: PCI compliance in NJ
The most important thing a business owner needs to know about transmitting consumer credit card information is PCI compliance.
PCI is a standard in which all payment processing equipment, software, and cloud services must adhere to. If a consumer’s credit card information is compromised using a non-PCI compliant system, the business owner and payment processing company face serious jeopardy.
Smart business owners know that transferring the liability of PCI compliance is best done using a PCI compliant payment processing company like Elite Merchant Services. The standard is rigorous with specifications for connection security and data-encryption.
PCI compliance is best left to professional services like Elite Merchant Services so business owners can concentrate on what they do best: Serving their customers.
Verifying credit standing/approval in credit card processing for NJ
When the consumers credit card company gets the consumer’s request to extend credit, the credit card company verifies the consumers credit worthiness and decides whether to approve the purchase or not.
During this process the credit card company will check the typical metrics for good standing, but they will also look for potential fraud. If the consumers transaction looks suspicious for any number of reasons, the credit card company may issue a card declined. If the card is declined the consumer can not complete the purchase, and the business may still pay the fee for processing the information through payment processing.
Communicating credit approval/disapproval to the merchant in credit card processing in NJ
If all goes well the credit card company transmits approval through the payment processing company secure network and your customer gets the product or service, and your merchant account gets credited the payment due. After which, you can transfer your merchant account payment to your regular business bank account.
Credit card processing in NJ with Elite Merchant Services | Simple solutions to a complicated topic
Elite Merchant Services wants to be your payment processing company partner so you can relieve the worry of electronic consumer payment transactions. Our dedicated team of support staff and account managers are ready to help you through the most advanced, or simple, payment processing system.
Before you commit to any payment processing company for credit card processing, give Elite Merchant Services a call.