Are you looking to accept more payment types from your customers? Global Payments Inc. can help. Learn more about this processing powerhouse here.
Payments are an important aspect of our lives. We have payments for everything from the coffee we put in our coffee maker to our Netflix membership. There are hundreds of options for payments out there for our consumers.
Though consumers have many options for making payments, businesses still face challenges. Chargebacks and a lack of payment options remain concerns for many.
Are you interested in offering your customers more ways to pay? If so, read on to learn more about Global Payments Inc and how you can work with them.
Global Payments: Company Overview
Global Payments Inc. is a leading provider of end-to-end payment processing solutions and services. The company provides a full suite of solutions that enable businesses to securely accept and process all major credit, debit, and alternative payments.
Global Payments is dedicated to expanding its customers’ payment options and providing the best possible experience. The company is constantly innovating and expanding its product offerings to meet the ever-changing needs of businesses and consumers.
Global Payments is a trusted partner that businesses can rely on to help them navigate the complex world of payments. The company serves the financial, corporate, government, and merchant communities worldwide. It offers funds transfer, merchant banking, accounting, internet, and other services.
Global Payments’ Credit Card Processing
Global Payments Inc is expanding customers’ payment options with the addition of a new credit card processing service.
As a business owner, you know that offering your customers more payment options can help them feel comfortable doing business with you. With Global Payments credit card processing, you can expand your customers’ payment options, making it easy for them to pay the way they want.
Global Payments offers a wide range of credit card processing solutions, so you can find the right one for your business. And with their easy-to-use online tools, you can get started accepting credit cards in no time.
This new service will also allow you to process credit cards from anywhere in the world, and will also offer you the ability to process American Express cards.
So don’t wait any longer, start expanding your customers’ payment options today with Global Payments.
Steps Involved in Credit Card Processing
Global Payments Inc is expanding your customers’ payment options by allowing them to pay by credit card. This is a great way to increase sales and keep your customers happy. Below are the steps involved in credit card processing.
- Authorization and Electronic Data Capture
Once the electronic information is captured from the magnetic stripe or chip on the card, an electronic imprint of the card number and other relevant information are passed to Global Payments for authorization.
Global Payments then electronically routes the data from the card to the card issuer through the payment card brand networks.
- Funding
This is the process of moving the funds from the cardholder’s account to the merchant’s account.
- Settlement
The process of moving the transaction information from your business to the cardholder’s financial institution.
People Involved in the Credit Card Process
Who takes part in the credit card payment process? Let’s know each of them below.
- Cardholder
This is the person that presents their card for payment of goods or services.
- Issuer
This person provides the cardholder with their credit and a physical card. They are responsible for approving and declining transactions, customer billing, and collections.
- Merchant
This is the business that sells goods or services.
- Merchant Account
A type of bank account that allows businesses to accept credit, debit, and mobile payments.
- Acquirer
The person who solicits underwrites and owns the accounts merchants need to accept credit cards. They can also provide the technology permitting businesses to process transactions, take on chargeback risk, and deposit funds into a merchant’s bank account.
- Payment Processor
These are organizations that partner with acquirers to open merchant accounts, handle support, manage payment processing, and build technology on behalf of acquirers.
How Long Does a Credit Card Payment Process Take
Payment confirmation at the POS takes only a few seconds. The payment process then continues behind the scenes with the billing process. Payment processing times vary, but on average, it takes one to three days.
Tips for Maintaining a Payment System
Below are some key tips from Allied Wallet, a global payment gateway company, for setting up and managing a payment system that accepts global credit cards.
Ensure Your Support System Is International
Make sure your system accepts different currencies and credit card types. It must also be approved and ready to accept payments in accordance with various international regulations.
Invest in a Reliable Global Payment Gateway
Unfortunately, accepting global payments leaves your business vulnerable to a whole new set of security threats. You should invest in layered and heavily monitored security protections.
To make sure that your global payment getaway is reliable, they should have important features like the ones listed below.
- PCI Compliance
- Chargeback Protection
- SSL Encryption
Watch Out for New Payment Methods
As the world increasingly moves toward a cashless society, businesses must adapt their payment methods to stay ahead of the curve.
Global Payments Inc is leading the way in providing innovative payment solutions that give customers more options when it comes to paying for goods and services.
By expanding your customers’ payment options, you can stay one step ahead of the competition and meet the needs of the modern consumer. Common payment methods vary by country and continent, and new methods emerge. So make sure to stay updated.
Learn More About Global Payments Inc
Global Payments Inc offers a great way for businesses to expand their customer’s payment options.
By offering a credit card processing service, businesses can give their customers the ability to pay with credit cards. This is a great way to increase sales and improve customer service.
So what are you waiting for? Contact them now to learn more about how they can help you take your business to the next level.
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