MERCHANT ACCOUNT SOFTWARE SECURES CREDIT CARD TRANSACTIONS

2007-03-08 10:33:40

( Business )



Merchant account software is important to processing credit card transactions. It allows transmittal of credit card sales through the merchant’s modem to the bank. Merchant providers, independent service organizations and independent software providers can set up merchant account software. Merchant providers and independent service organizations lease merchant account software while independent software providers directly sell it. Leasing result to higher cost in the long run while direct purchase of merchant account software lower your costs.

Merchant account software allows computer modem to process credit card transactions. The actual transmittal of data is done through telephone lines or internet. Security of credit card data is at risk with internet transmittal. But good merchant account software mitigates such risk.

Credit card information is at risk in two ways, the bank processing period and the online transaction period.

Bank Processing Period

Credit card data is secured by a dial up communication modem provided by terminal programs of merchant account software. It is an independent process to encode and encrypt credit card data.

Online Transaction Period

The stage wherein customers purchase through credit whether online or face to face is the pre-bank processing period. Security of credit card data during this period is implemented through a secured site commerce which encrypts and store data. Direct online credit card transactions can be also secured by merchant account software which enables offline sales processing to the merchant’s bank using the computer modem.

Security of credit card transactions is the primary responsibility of the merchant. Merchant banks and credit card processors prioritize dealings with merchants who can assure security of credit card transactions. Thus, it is necessary to implement business intelligence software in your merchant account process.

Choose the best merchant account software. Get referrals from merchants on the best merchant account software in the market. Check your own bank’s merchant account software and research the history of its performance. Also, compare the cost of leasing and directly purchasing merchant account software. Select what will work for you.


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