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How Mail & Phone Order Credit Card Processing Works1. The customer will call in an order to the merchant and give them their credit card information. The merchant will then enter it into a credit card terminal or PC software. 2. The terminal or PC will then dial a toll free number and connect to your processor for authorization. In some cases the PC software may be able to use the merchant's internet connection to connect. Once the terminal or PC has connected it will send the credit card information and amount of the purchase. 3. Your processor will then pass that information onto the bank that issued the credit card. The issuing bank will then check to see if the card is valid and see if the amount requested is available on the card and set aside the amount of the purchase for the merchant. 4. The issuing bank will send back an approval number or a decline message back to your processor. 5. That information will then be passed back to the credit card terminal or PC software which will give the merchant the approval number and will allow them to print a receipt for their records. It will take approximately 3-15 seconds to complete steps 2-5. 6. At the end of the day the merchant may manually "settle" their terminal which will begin the final process of the transaction. In most cases it can be automatically settle the transactions at a specified time each day. Once the settlement process is initiated the funds will be transferred from the card issuing bank and will electronically deposit them into the merchant's checking account. It typically takes 2 business days from the time of the original transaction for the funds to reach the merchant's checking account.
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