Merchants play an important role in the credit card industry. Aside from the merchants, other role players in the credit card processing system are the credit card issuing bank, the consumer, the merchant service provider, and the merchant bank. Below is an overview of how these role-players conduct credit card transactions.
When a consumer purchases products from a merchant, he may opt to pay via a credit card transaction.
Once the merchant swipes the card on the U.S. Bankcard Services, Inc. credit card processing terminal, the machine dials the acquiring processor for verification via the appropriate card association brand.
The merchant bank may then accept or decline the transaction based on the information sent. Afterwards, the credit card processor sends the information to the merchant via the U.S. Bankcard Services, Inc. terminal. The merchant can now close the transaction with the consumer by delivering the products or services they requested.
Retail Merchants deal directly with end consumers or retailers. They sell commodities to businesses. Business-people who own shops, boutiques, and markets are retail merchants. Retailers may opt to buy large quantities of products and resell their products for a smaller quantity to end consumers.
Mobile Merchants are on-the-go merchants who have U.S. Bankcard Services, Inc. credit card processing equipment that can travel with them. This is possible due to wireless coverage, allowing mobile merchants to conduct businesses at trade shows, conventions, and swap meets.
Mail-Order/Telephone Merchants provide products or services through mail or telephone orders. Although they cannot run transactions physically, business is still possible with the help of U.S. Bankcard Services, Inc. Card information can be keyed in through a U.S. Bankcard Services, Inc. credit card processing machine or through a virtual terminal where the credit card information is entered through a secure gateway provider.
Additionally, Online Merchants conduct businesses over the internet. With the advent of online shopping, online merchants abound nowadays. Transactions are done via the internet through U.S. Bankcard Services, Inc. E-commerce packages that allow for real-time credit card processing. This includes a transaction gateway for online merchants.