1 / 4

Credit card processing

Moreover, credit card processing involves more than swiping or inserting a card. It is a complex process that includes transaction authorization, data encryption, and secure communication between the merchant, acquiring bank, and card network. By using a trusted service, businesses can save valuable time and resources. This allows owners to focus more on growth and less on dealing with payment complexities. Visit: https://pentaxx.exchange/

jamesdavis7163
Télécharger la présentation

Credit card processing

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Understanding Credit Card Processing Credit card processing is the silent engine of the global economy, facilitating secure and efficient financial transactions that are essential for businesses worldwide. In 2023, the global card payment transaction value reached an astounding $4.5 trillion, underscoring its critical role. For over 90% of US businesses accepting non-cash payments, robust credit card processing systems are not just a convenience but a necessity, enabling the seamless flow of commerce from local shops to international enterprises.

  2. The Transaction Flow: From Swipe to Sale Initiation Cardholder begins transaction via POS terminal or online gateway. Encryption Transaction data is encrypted and sent to the payment processor. Routing Processor routes request through card network to the issuing bank. Approval Issuing bank approves/declines based on funds and fraud checks. Settlement Approval sent back; funds typically settle in 24-48 hours. The entire six-step authorization process, from the initial swipe to the final approval, is completed in a mere 1-3 seconds, a testament to the sophisticated technology underpinning modern finance.

  3. Technology and Security Standards 1 EMV (Europay, Mastercard, Visa) Chip cards have significantly reduced counterfeit fraud by over 75% for chip-enabled transactions, providing enhanced security at the point of sale. 2 PCI DSS The Payment Card Industry Data Security Standard enforces 12 core requirements for any entity that stores, processes, or transmits card data, ensuring a secure environment. 3 Tokenization Replaces sensitive card numbers with unique, non-sensitive tokens, protecting actual card details from exposure during storage and processing. 4 End-to-End Encryption Protects data during transmission, rendering it unreadable to unauthorized parties without the correct decryption key. 5 Fraud Detection Systems Utilize advanced AI and machine learning algorithms to identify suspicious patterns, successfully blocking over 90% of fraudulent transactions in real-time. These robust technologies and standards are crucial in protecting sensitive financial data and maintaining trust in the payment ecosystem.

  4. Website : pentaxx.exchange

More Related