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Card processing validating credit cards

Although being familiar with the credit card transaction process may not seem useful to the average consumer, it provides valuable insight into the inner-workings of modern commerce as well as the prices we ultimately pay at the register.

It occurs simultaneously with the settlement stage.

For the convenience of their customers, many merchants accept credit cards as payment.

On the surface, the credit card transaction process seems simple: Customers swipe their cards, and before they know it, the transaction is complete.

Behind every swipe, however, is a profoundly more complex procedure than what meets the eye.

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When a credit card is declined, the point of sale (POS) terminal will return a response code that explains why. In those instances, only your credit card issuer can identify the particular reason for the rejection, so you may need to call customer service to resolve the problem.

Below are some of the most common issues you might encounter if your card gets declined: Disclaimer: Editorial and user-generated content is not provided or commissioned by financial institutions.

Hence, most will seek the cheapest credit card processing rates or mark up the prices of their products so customers’ payments can absorb the card-processing cost.

Depending on the type of merchant and through which platform a good or service is delivered (e.g., at the retail store, through e-commerce or by phone), credit card processing rates will vary.

Comments Card processing validating credit cards

  • How to Validate Credit Card Information

    This gives merchants a way to verify the validity of a card number prior to accepting the customer's payment. The calculation to compare a credit card number against its check sum is known as the Luhn algorithm. You can. For credit cards with 15 digits, you would double the digits in the even-positioned spots. If doubling a.…