Online credit card transactions
There is a one common way to do online transaction that is credit card payment, still one thing comes to understand that how credit card processing works most of us are quite mystified.
Whenever a trade store cashier swipe your credit card throughout credit card fatal, the subsequent procedure takes place: credit card and payment details are sent by electronic means to merchant’s acquiring bank, which contacts credit card issuing bank; in case transaction is accepted, money are deposited on the merchants account. A merchant require having a merchant account and a compensation gateway account in order to set up credit cad handing out in his store.
When you do an online credit card transaction there are lots of things that you perform. The virtual store that you would like to buy from will inquire for your name and credit card number. The online credit card transaction arrangement will confirm whether or not the credit card is owned by the name specific. This step is in fact not obligatory since not everyone uses their own credit card, and the name is most of the times written on the credit card well.
Individual sort of business I have individually set up with QSR is a drive- from side to side ice cream store. My mercantile client treasured the enlarged speed of the transactions. He did not require bending out of the serve window and handing the customer a receipt and pen to sign. He simply handed a receipt to the customer all along through their buy, that customer then throng away and my merchant client was on to handling his subsequently customer!
The customer does still obtain a receipt. The credit card company do motionless need that every consumer using their credit card does collect a receiving for their credit card transaction.
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Help answer the question about online credit card
Looking for online credit card processing company that will work with website from 3rd world country.?I live in SE Asia country and want to open an online travel business and sell tours / services online, however most the online credit card processing companies i have investigated dont want to do business in my country. Even paypal will only allow me to send , not to recieve funds from my country. Any help would be greatly appreciated. Thank you.
September 21st, 2009 at 11:58 am
Follow the instructions, First name, then last name . . .
The merchant will submit the name to the credit card company for verification. As long as the credit card company doesn't have the name wrong, it should work.
September 21st, 2009 at 12:51 pm
all this information makes a very big difference.
This is actually exactly what I do.
I would avoid paypal and the fees they charge.
Your better off going with a processing company
You should contact me at mbader@prairieprocessing.com
I could give you several ideas or you could give my contact information to the group
September 21st, 2009 at 12:59 pm
great
September 21st, 2009 at 8:12 pm
September 22nd, 2009 at 12:42 pm
You have to contact the website where you made the purchase. Having the order number when you contact them will be handy. I would call them instead of sending an email because this needs quicker attention.
September 22nd, 2009 at 9:01 pm
YES. the site doesnt know the difference between debot ro credit online.
September 22nd, 2009 at 11:33 pm
Dont buy it, its junk. Plus they test on animals!!! Buy a mascara thats cruelty free and works great……try http://www.sephora.com they will take your credit card and they have the best products!!!
Good Luck!
September 23rd, 2009 at 1:06 am
credit card transactions vary from merchant and credit card companies. Sometimes it will take a few hours only, others will take up to a week or longer. I know some companies process credit card payments daily or weekly depending on how or what benefits or saves them the most money.
So I would just calm down and know that your payment will be taken care of in due time.
September 24th, 2009 at 5:43 pm
September 24th, 2009 at 9:12 pm
Ok this is going to be a little long
I work in the merchant services field and I will try to point you in the right direction. First and foremost you have to understand how credit cards work. There are 3 main players. One being the company that you purchase from, since this is a gambling website I can tell you right away this is a waste of time. All these companies are based out of the country and are not subject US law. Second is the merchant processing company. This are the people that actually handle the transactions. Once again since the site is a gambling site I am positive they are with a high risk provider based out side the US.No real recourse there. The last is the issuing bank, this is the bank that actually issued the card. There is a pretty good chance they are US based and you best bet. Now to give you a little understanding on how all this works in the simplest way possible.
When you son went online and went to the site he entered the CC info. That info is then sent from the website to the processing company. The processing company then sends the info to the issuing bank(your CC company). The issuing bank then check the MCC code and verifies the funds are available. If the funds are available they send the funds back to the processing company, which in turn send the funds back to the website owner. That being said, what is a MCC code.
When a merchant processing company sets up a client (in this case the gambling site) they have to disclose what type of business they are. This is done by a MCC code. There is an MCC code for every type of business. This code tells the issuing bank what type of company is trying to get funds.
Now to things could have happened. 1 the processing company lied and gave them a different MCC code which is possible but not likely. The other is the bank new about it and let it go through anyway.
Now after all that here is your answer. Based on the The Unlawful Internet Gambling Enforcement Act of 2006 a cc company is not violating US law. The law states it is illegal to receive funds not send funds. So based on this law the only person that is liable is the website. However the law was changed again in 2007. Now i am not a lawyer but in
Section 5364 mandates that the Federal Reserve Board and the Secretary of the Treasury issue "appropriate" regulations designed to identify and block the transfer of funds to the online gambling operators from U.S. financial institutions. The regulators are given nine months to put these regulations in place. Once the regulations are issued U.S. financial institutions will be required to comply with them.
Now hear is where it get really tricky. Within the last month or so there is a lot of talk about having this billed removed . The president and so other people are stating this bill is hurting our relationship with Europe and want to ax it.
So after all this I would recommend this. First read up on the law and understand it for yourself also contact your CC company and ask them to send you a copy of the terms and agreement of the card(DO NOT MENTION ANYTHING TO THEM ABOUT THIS YET). Find out what website he was on and do a quick search of who they are. May give you a little insight on where they are. Then see if you can find out any if on your cc statement, as far as where you funds went, if there is a phone number of the company, or anything else. You might get lucky and find out the bank the money was sent to is in the US but I doubt it. Next I would call your CC company and put a claim. Be careful how you word this claim. I would not state this is fraud. I would simply claim that you do not recall making these transactions. The good thing is that since most of these companies are outside the country it is harder for the bank to verify the funds. I will not boar you with the details and how this works but it is you best bet. If after that they still want you to pay I would call up the bank and state you found out this was done on a gambling website and you want to know why they allowed the transaction and maybe get in touch with a supervisor and state some case law. If all else fails contact a lawyer and just simple ask I believe I have case against my bank. They more than likely will tell you yes or no.
One last item I do agree with the previous answer that you son has to own up. However I don't believe you should be liable for his mistakes. Try to get this fixed and the remove the charges but regardless of the outcome I still would make him pay for the bill. Hope this helps