IAEE is pleased to bring you this valuable information from our new partner, BluePay. BluePay offers fast, easy, and secure payment processing solutions to fit every member’s needs. Whether a small business, large enterprise, e-commerce, B2B, or nonprofit – BluePay is the preferred all-in-one credit card processing company for the IAEE.

New to the world of credit card processing? It may seem like a complex process, but really, the ability to accept credit cards for your organization is simple and extremely beneficial. Credit card merchants can enjoy increased sales, streamlined payments, advanced security technology and much more.

Below, we’ll give you the basics on how credit card merchant processing works, in 8 simple steps:

  1. Making the Purchase.
    The customer finds a product that he or she likes and decides to make the purchase. The customer can use a credit card to pay for the item in the store, through an online payment gateway, by phone or by mail.2. Entering the Transaction.
    The credit card is swiped through a secure credit card terminal, or the card and transaction information is entered in. For online transactions, the cardholder keys in the payment option.3. Transmitting the Data.
    The credit card data is transmitted for approval as the terminal, POS systemor secure payment gateway is connected to the processing network.4. Approve or Decline.
    Once the data is transmitted, the credit card issuer can approve or decline the transaction. This is based on the validity of the card, the transaction, as well as the cardholder’s available funds.5. Responding.
    If the transaction is approved, the processor and the merchant receive an authorization response.

    6. Completing the Transaction.
    The merchant completes the transaction.

    7. Submitting a Batch Closure.
    The merchant completes the credit card payment process at the end of the day with a batch closure. This closes out the transactions that have been processed on that day. The processor’s acquiring bank then collects the funds from the credit card issuers.

    8. Depositing the Funds.
    The processor’s acquiring bank then deposits the funds into the merchant’s business account. This typically takes up to 48 hours.

The BluePay team helps the travel and event-planning businesses like yours meet specific needs and goals through simple, secure, cost-effective payment processing services. BluePay customizes a safe, easy solution with low transaction rates.

Posted by Elizabeth McQuade

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