How do you process credit cards?

Re:How do you process credit cards? by debt on Friday February 06, 2009 @03:27PM (#470293)

He doesn't mention a merchant service provider. Does this mean he deals only with the bank?

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Re:How do you process credit cards? by tptacek on Friday February 06, 2009 @04:05PM (#470361)

Aren't they getting that from Authorize.net?

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Re:How do you process credit cards? by aston on Friday February 06, 2009 @04:10PM (#470375)

Authorize.net, basically just an API front for the real money handling, is only available through 3rd-party resellers. My best guess is that 37s's bank is one of those and is also providing the merchant account.

I know that you can just grab a merchant account and then find a reseller for Authorize separately, but it just seems easier to take the package deal from someone, and banks are safer than some random Authorize reseller on the web, IMO.

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Re:How do you process credit cards? by debt on Friday February 06, 2009 @06:26PM (#470552)

No. There's a misconception that money is immediately deposited into your merchant account once a transaction is authorized and captured.

In fact, there's a middle man called the merchant service provider which holds your funds and deposits them to your merchant account. They are contracted out by your bank.

A transaction is sent through Authorize.net to the msp then through to the customer's bank.

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Re:How do you process credit cards? by ja2ke on Friday February 06, 2009 @08:43PM (#470698)

Didn't they mention Chase?

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