Visa Credit Card ProcessingBy LILY of Cashsee.com
Visa Processing is nothing but the processing of the payments done through the visa credit cards.
This is a very crucial step in the payment process because the acceptance or rejection of any payment made
through a visa depends on this.
Verification of a visa can be done in either of two ways,:-
Firstly, on a real time basis
Secondly, on a time-lag basis
The real time
Visa Processing is done through the Internet.
It helps in fast and secured verification giving competitive edge to the merchants or business owners.
Other channels of
Visa Processing involves the offline ones. The offline processing generally
takes place on a time-lag basis.
The medium of this type of processing includes cellular services, wireless and telephonic services.
All merchants are not entitled to accept payments through the Visa credit cards unless they open a merchant account.
This account can be opened through a MSP (Merchant Service Provider) or Merchant Bank. Merchant accounts allow the
business entities in accepting payments from the customers made through credit cards. The charges associated with this
account involves interchange charges, monthly interest payments and additional fees (monthly minimum fees, authorization fee, etc).
Visa Processing can be made in the following ways :-
Through Visa Terminals The Visa Terminals are electronic devices present in the merchant shops for accepting payments done via visa credit cards.
The merchants either swipe or wave the card over the terminal
The information in it are transferred to the main processing unit either through online or offline mediums.
These information are processed and the verifications are done either on a real time or time-lag basis.
Verified informations are sent back to the terminals
Based on the verified results, the merchants take decision of accepting or declining the payment through visa
Through Payment Gateway Payment Gateway is a completely online service for Visa Processing. Its specialized terminals are situated in almost all shops.
The secret information like visa numbers are seen in encrypted form making the system secured. The online nature gives it the required fastness for giving its
customers the competitive advantage over their competitors. It is basically a third party Visa Processing system.
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