Hi everyone,
I’m looking to understand how credit card processing works a little better, especially from a small-business perspective. There seem to be several steps involved between a customer making a card payment and the money reaching the merchant’s bank account.
From what I understand, the process involves the payment gateway, credit card processor, card network, issuing bank, and acquiring bank. I’m also curious about how credit card processing fees, authorization, and settlement fit into the overall process.
For businesses that accept card payments regularly, what factors do you think are most important when choosing a credit card processing solution? Is it better to focus mainly on processing fees, security, reliability, or customer support?
I’d appreciate hearing about other members’ experiences and rec