How Credit Card Transactions Work

An experienced payment solutions company, ElitePay Global works with merchants to arrange payment processing in a convenient manner for both vendor and customer. ElitePay Global also offers merchant education to help clients understand the payment process.

A credit card purchase begins when the customer hands a card to the merchant or enters his or her information online. At that point, the selling organization requests authorization from the card issuer, then sends the transaction to its payment processor. The processor next takes control of the transaction and confers the information to the card network, such as Visa or Mastercard. The processor then sends the transaction to the issuer, which in turn transmits an authorization code.

Subsequently, the card network officially debits the issuer and credits the selling organization’s processor. The issuer is responsible for posting the transaction to the customer’s bill, and the payment processor for crediting the transaction to the seller. The processor charges the merchant for costs incurred in this process, which primarily consist of interchange fees due the issuer and assessment costs required by the card networks.

Payment Card Industry Compliance and Security Standards

Due to the threat of identity theft and compromised account information, ElitePay Global offers PCI compliance services to merchants, particularly small to mid-sized businesses. As a payment solutions company, ElitePay Global helps businesses protect themselves and consumers from credit card fraud by using hardware and software products that comply with the Payment Card Industry Security Standards Council.

In an effort to protect merchants and consumers, the Payment Card Industry (PCI) Security Standards Council serves as an organization comprised of representatives from major credit card suppliers who work together to standardize security initiatives. Merchants must comply with the security standards set forth by the organization, and they must prove they possess the required technology and understanding of security measures to maintain compliance during transactions. Validating a merchant’s compliance involves on-site audits and assessment questionnaires completed annually. Quarterly scans of a merchant’s electronic payment activity occur, as well.

To learn more about PCI compliance and standards and preventing payment fraud, visit the organization’s website at www.pcsecuritystandards.org.

Features of the Ingenico iSC Touch 480

ElitePay Global offers a variety of countertop and mobile payment processing solutions, including the iSC Touch 480 from Ingenico. ElitePay Global offers this model for clients seeking industry-leading technology and options for multiple payment types.

Compliant with all software and hardware security requirements within the payment industry, the Ingenico iSC Touch 480 offers 3.x level Payment Card Industry and PIN Transaction Security (PCI-PTS) certification. The system earns customer trust with an optional PIN shield, which supports feelings of safety in use, and offers point-to-point encryption to protect data further. In addition, the device’s electronic signature function offers biometric measurement functions that support more accurate signature authentication.

Beneficial to the retailer as well, the signature screen supports up to 1 million signatures and features a high-readability, low-reflection display. Both the keypad and the card reader feature extra lighting to help both retailer and customer easily use the device. The card reader itself accepts 500,000 swipes, while the stripe reader includes two magnetic heads to support efficient and effective card reading. After the device reads the card, the data is processed quickly by the system. These features combine with a number of connectivity options, including USB and Bluetooth, to support nearly any sales setting.