{"id":4527,"date":"2017-08-17T10:18:47","date_gmt":"2017-08-17T14:18:47","guid":{"rendered":"http:\/\/www.nationaltransaction.com\/credit-card-merchant\/?p=4527"},"modified":"2023-03-29T16:09:01","modified_gmt":"2023-03-29T20:09:01","slug":"electronic-payment-processing-everything-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/electronic-payment-processing-everything-you-need-to-know\/","title":{"rendered":"Electronic Payment Processing: Everything You Need to Know"},"content":{"rendered":"<h4><strong><span style=\"color: #008000;\">How Do Credit Cards Work?<\/span><\/strong><\/h4>\n<p>Paying with a credit card seems like a simple process. You charge the customer, they swipe their card, and then they walk out the door.<\/p>\n<p>But behind the scenes, it&#8217;s a bit more complicated.<\/p>\n<p>A credit card payment involves four parties.<\/p>\n<ul>\n<li><strong><span style=\"color: #008000;\">The Merchant<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #008000;\">The Customer<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #008000;\">The Issuing Bank<\/span><\/strong><\/li>\n<li><strong><span style=\"color: #008000;\">The Merchant Services Provider<\/span><\/strong><\/li>\n<\/ul>\n<p>You know who the Merchant and Customer are &#8211; that&#8217;s the easy part.<\/p>\n<p>The Issuing Bank is the institution that lends money to the Customer.<\/p>\n<p>When the Customer swipes their card, the Issuing Bank lends them the sale amount. This <span style=\"color: #008000;\"><strong>loan<\/strong> <\/span>is given with the understanding that the Customer will pay the amount back within 30 days or repay it with interest.<\/p>\n<p>Before the Merchant sees any of that money, it goes through the Merchant Services Provider. In exchange for their credit card processing services, they take out a fee before paying that money to the Merchant.<\/p>\n<p>These fees vary between Merchant Services Providers, but one thing is certain: The Merchant always receives less money than the Customer paid them.<\/p>\n<p>This might seem like a raw deal. However, <span style=\"color: #008000;\"><strong>accepting credit cards can lead to more sales than if you only accept cash.<\/strong><\/span><\/p>\n<p>On our next article we will discuss how to start accepting credit card payments and understanding the processing fees&#8230;.so stand by for more information about Electronic Payment Processing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How Do Credit Cards Work? Paying with a credit card seems like a simple process. You charge the customer, they<\/p>\n<div id=\"more-button\"><a class=\"btn btn-more excerpt-more\" href=\"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/electronic-payment-processing-everything-you-need-to-know\/\">Continue Reading<\/a><\/div>\n","protected":false},"author":2,"featured_media":4529,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,122,50],"tags":[199,21,608,151,423,84,27],"class_list":["post-4527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-practices-for-merchants","category-credit-card-processing-2","category-electronic-payments-2","tag-bank","tag-credit-card-2","tag-customer","tag-electronic-payment","tag-loan","tag-merchant","tag-payment"],"_links":{"self":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/4527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/comments?post=4527"}],"version-history":[{"count":2,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/4527\/revisions"}],"predecessor-version":[{"id":4905,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/posts\/4527\/revisions\/4905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/media\/4529"}],"wp:attachment":[{"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/media?parent=4527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/categories?post=4527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaltransaction.com\/credit-card-merchant\/wp-json\/wp\/v2\/tags?post=4527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}