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| "When more and more of our
general contractors wanted us to accept their credit cards for payment,
I knew we had to change our billing procedures. Now, we get paid immediately
after the job is done, and we have saved a lot of money in postage, paper,
and manhours.”
Shirley Edison
Edison Brothers Electrical Contracting
Salem, OR
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| Sales received in the mail or taken over the phone
and accompanied by a credit card payment has become a necessary option
for today's expanding and versatile businesses. Because there are greater
risks to mail order and phone order (card not present) non-swiped credit
card transactions compared to retail (card present) swiped transactions,
the payment processing industry has developed specific requirements for
MOTO (mail order/telephone order) transactions. Typically, processing
rates for MOTO transactions are higher than for retail.
You will be set up with a merchant account to accommodate MOTO (mail order/phone order) transactions at the lowest available credit card processing rate. In addition, our customer service personnel will train
your people in the best formats to follow that will avoid additional charges
due to improper procedures. And because customer service at AMERICAN BANCARD
is 24/7, you can get help at any time should different or re-occurring
problems arise.
Our MOTO business has increased dramatically because we take
pains to train and clarify, which is unique to the industry. Trust us.
Call 800-793-3250.
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Credit Card Processing at the MOTO Level
| STEP 1: |
| 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. |
| STEP
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. |
| STEP
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. |
| STEP
4: |
The issuing bank
will send back an approval number or a decline message back to your
processor. |
| STEP
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. |
STEP 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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AMERICAN BANCARD, LLC is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, CA.
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