How Wireless Credit Card Processing Works?If you are a small business or a services owner who travels for providing the goods and services, you may know the hassle of doing business with just cash or checks. Most of the clients may want to pay you through their cards and you may just loose a potential business due to the fact that you cannot charge them through their cards.
To solve the above issue, you can now use wireless credit card processing option. This way, you can charge your customer’s credit or debit card using a wireless equipment at the place you provide your services or goods. This way, you get the ultimate mobility for your business and ability to charge the customers from any location.
Let’s have a look at how wireless credit card processing works.
In order to get on with wireless credit card processing, you need to have a wireless credit card machine and a merchant account. A merchant account can be easily setup through a bank or an institution which provides the accounts. This process may take a few days, although most of the merchant accounts can be setup within a matter of two days. Just make sure your give this process a little extra time it requires.
When it comes to the wireless credit card machine, you will have to buy a known, reliable brand. If it is not reliable, you will face many problems when you actually charge the customer’s card. If your machine does not work at the site, then you will have a disappointed customer.
First of all, in the wireless credit card processing, the merchant (in this case assume it is you), swipes the credit card through a wireless credit card machine. The wireless credit card device works as a mobile phone and sends the relevant information (credit card details and the amount) through a radio tower to your warehouse. Through the warehouse, the information about the purchase is passed to the inventory system as well as to the bank which issued the credit card of the customer. The bank then verifies the validity and the available balance of the credit card. If everything is fine for the wireless credit card processing, the bank sends out the approval of the transaction to the warehouse. If the card validity check fails for the wireless credit card processing, then the bank sends a decline message to the warehouse. Then the warehouse passes the information through the radio network to the wireless credit card machine in order to approve or decline the wireless credit card processing. Depending on the wireless network coverage, this process usually takes between eight to twelve seconds to complete. At the end of each day, you have to manually settle the credit card payments and then the credit card issuing banks will transfer the money to your merchant’s account. This is how the wireless credit card processing takes place.
Remember…always keep up to date with merchant account fraud and credit card fraud education! Please see the following to help advise about credit card fraud and merchant account fraud and how you can avoid the issue:
PCI | FBI | FTC | Stop Fraud .gov | HG | USA.gov | DOJ | SS | FFIEC | CSOS
Contact us anytime with your merchant processing questions.
