Best Credit Card Processing Services

Since the advent of the first credit card, this system of non-cash payment, or as it is commonly known, credit card payments has come a very long way. The days of heavy stacks of paper bills and endless counting of coins are fading fast as the majority of purchases done today are through the use of credit or bankcards. This has made accounting easier for merchants and provides an easy method for customers to keep track of their spending.

For this system to work efficiently, it will require the best credit card processing company with reputable and reliable services that guarantee smooth functioning of businesses for customers.

Credit Card Processing System
When a credit card or bank card is tendered to a merchant for goods or services purchased, it goes through a series of steps before the funds are actually deposited in the merchants account. First the card is swiped on the credit card machine. If the information is taken over the phone or if a problem arises with the machine and for some reason will not read the swiped card, also if it comes through the mail the information will be keyed in.

Whichever way the information is gathered, it is entered into a credit card terminal or an online/virtual terminal. This credit card terminal connects with the issuing bank that then will send an approval or decline response code back to the merchant via the terminal either approving or declining the card. If approved the bank will put the funds on hold and send an authorization code to the terminal which will print a receipt for the customer. Merchants familiar with credit card processing know that this is the simplest way for customers to receive goods and services, and in today’s online world, it is the most convenient.

This step will be repeated for as many bankcard transactions done with credit cards throughout that day. At the end of the day a reconciliation of all bankcard transactions will be done and sent to the credit card processing company used by the merchant. They are responsible for sending a request to all the banks holding funds for the merchant on each bank transaction done that day.
These funds are deposited into the credit card processing company's bank account, which then transfers it to the merchant’s bank account, after withholding the pre arranged fees for merchant services rendered. This process makes the need for utilizing the best bankcard processing company and credit card processing company crucial for any business.

How to Choose The Best Credit Card Processing Company
If you are a merchant, wondering what is a merchant account, or  how to get a merchant account, you should begin researching what is involved when you want to accept credit card payments and begin merchant account processing for the first time, it is important that you do a thorough check of all the credit card processing companies offering services. As shown above the function of the credit card processing company chosen will be very crucial to your business. There is a lot of information available online concerning the various credit card processing companies and the fees they charge.

To help steer you in the right direction this article will show you the features of the best bankcard processing companies to assist you in making the right choice in selecting the company to manage your funds and provide you the best merchant services for your money.

Key Features to Consider in Choosing a Credit Card Processing Company
In today's world of finance credit card is the way to go for most shoppers. Everyone in business needs a credit card merchant processing account. As more merchants adopt this method of payment, merchant bankcard processing companies are rising up overnight to get your business. Online merchant accounts are everywhere you look, and shop.  Therefore merchant accounts are necessary to ensure you are getting the best merchant services available
Some of the best features include:

Some may offer you merchant services for less. Be wary, as there may be hidden fees and costs that are not readily apparent. Cheap does not always mean lacking merit however, and it may be worth your while to investigate the merchant services being offered before negating an offered.

The best merchant services will usually have the following:
• A built in secure system to handle your credit card processing
• Provide reasonable and affordable low discount rates for services
• Safeguard your business from fraudulent transactions
• Ensure rapid deposit of funds to your bank account
• Provide services such as: free set-up, no contract, offering month to month usage allowing termination on either end at any time, no cancellation fee and ease of acceptance into system
Other services should include low rate merchant accounts which allow merchants to accept any of the major credit cards from customers such as Visa, MasterCard, Discover, debit or gift cards for the same fee. These low rate merchant accounts will be beneficial in helping the new small businesses gain financial footing, along with a service offering genuine merchant services for less.

One key element in merchant accounts is not to overlook low discount rate merchant accounts. It should remain in the vicinity of 1-3%.  Anything higher will be out of your league as a small business. Do your research before deciding on a credit card processing company looking at all their fees including their transaction rates both retail and those conducted over the internet. Opt for the one that offers low discount rate merchant accounts.

Now armed with the information necessary to choose the right credit card processing company, you can begin to accept credit and debit cards from your customers and improve your financial position in your business and begin to enjoy the best merchant services for less. Contact Ignite Payments/FDIS Colorado today for a quote and easy, affordable merchant accounts. Visit their website at www.bettercreditcardprocessing.net or call them at 888-224-9571