credit card processing

What is Credit Card Processing?

Credit card processing is used through a payment processor, who is appointed by a merchant to handle all of their credit card transactions. They are usually broken down into two types: front-end and back-end.

Front-end processors have connections to various card associations and supply authorization and settlement services to the merchant banks’ merchants. Back-end processors accept settlements from front-end processors and, via The Federal Reserve Bank, move the money from the issuing bank to the merchant bank.

In an operation that will usually take a few seconds, the payment processor will both check the details received by forwarding them to the respective card’s issuing bank or card association for verification, and also carry out a series of anti-fraud measures against the transaction.

Additional factors such as the card’s country of issue and its previous payment history are also used to gauge the probability of the transaction being approved.

Once the payment processor has received confirmation that the credit card details have been verified, the information will be relayed back via the payment gateway to the merchant, who will then complete the payment transaction. If verification is denied by the card association, the payment processor will relay the information to the merchant, who will then decline the transaction.

Century Business Solutions Credit Card Processing is Different

Century Business Solutions offers credit card processing to our merchants. However, it is what we offer in addition to the payment processing that sets us apart from all other payment processors. No matter the size or type of industry, we can offer credit card processing for any vertical.

Most payment processors don’t offer software integrations as part of their merchant services. At Century Business Solutions, we pride ourselves on being unique to the payment processing industry because of our integrations. As a technology based credit card processor, Century Business Solutions offers customized integrations that will lower your interchange rate if you use an ERP system, accounting software, or online shopping carts.

If you do not require any integrations, we offer credit card processing for your business while matching or lowering your current interchange rate.