Hello Succeeding Small readers, PayFrog here! We are a premier merchant service and credit card processing company based in Florida and serving you wherever you are. Today, the team at PayFrog is coming to you with helpful advice on credit card processing.
We at PayFrog have been in the merchant services business since 2010. We are a family-owned and operated business, and our mission is to provide organizations with a simple, secure, and cost-effective payment processing solution backed by stellar customer support.
What Is Credit Card Processing?
Credit card processing is one type of merchant service. It is the process of transmitting data from a customer’s credit card from their account to the merchant’s account. This process can feel overwhelming and confusing at times, but can be broken down into these steps:
- Your customer will make a purchase with a credit card.
- The credit card will be swiped through a terminal to be processed and will be recognized for charging.
- The terminal will then contact the credit card processing company to authorize.
- The credit card processing company will send the payment to your business bank through a certified merchant services provider.
- Your business bank will deposit that payment into the connected merchant bank account.
- The statement will be sent to the business at the end of the month that details the interchange for all of the transactions that month.
Credit card processing is a critical service–one that most businesses rely on because it ensures that their customers can check out simply and quickly. As a small business owner, you will want to give your customers the best experience possible when they make a purchase. Credit card processors can do just that because they handle all the details associated with accepting debit and credit cards.
How Does Credit Card Processing Work?
When a customer makes a payment, they will present their credit card information. This can be in-store or online when customers present their cards through websites or apps. This information is sent to the processor, who then communicates with the customer’s bank via card networks like Visa or Mastercard. The bank approves or denies the transaction from there. After it has been approved, it is sent back through your credit card processor and, finally, back to the terminal or card reader.
Why Your Small Business Needs Credit Card Processing
As a business owner, you understand how important it is to have good tools in place to work with you. Cash continues to decline as a popular method of payment and is being continually replaced by credit cards. Allowing your customers to use credit cards will not only bring in more customers but will also increase your revenue. Because credit cards don’t require an immediate transfer or money from the bank, accepting credit cards can encourage more purchases from your customers. Accepting credit cards also means better automation for your business’s financial management.
Credit Card Processing for Small Businesses With PayFrog
Dealing with technology is part of our modern life, and it’s important for essential service providers to respond to these difficulties with excellent customer service. At PayFrog, we handle merchant services, like credit card processing, to help you give your customers a quality experience. We love partnering with small businesses throughout the U.S. and are here to answer any questions you have. As you search for the perfect credit card processing service, hop on over to PayFrog and discover how we can help.
