The online billing goes to the merchant who in turns processes it through the credit card company.
There is a back-end process to credit card captures. First, the payment details goes through the merchant via a secured form. Then it is sent through the payment gateway linking the site to the financial institutions. It gets processed by the credit card company who debits the credit card balance of the cardholder and credit the merchant account of the merchant.
who is the merchant
The term usually used is a "claim".
Merchant Warehouse is a payment solutions company that was established in 1998. It sells credit card machines to companies and allows for companies to provide mobile payment options to their customers.
Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.
Information on Mercury payment systems is available directly from their own website. It is also available on merchant review websites, where they compare different types of payment systems.
insure claim resived bu party
Transfer of your card details and details of a transaction via a secure connection to an online payment provider (either the merchant will have an in-house system or they will use a 3rd party gateway) who will then arrange the transaction between your card company and the merchant's bank.
There are several ways someone can make a payment to Chrysler financial. The payment may be mailed to the company or it can be made directly at their website.
The major participants in processing cards online are: i. The merchant ‐ A company that sells products or services ii. Acquiring bank/merchant bank ‐ In order to process payment cards for Internet transactions, an online merchant must set up a merchant account. The merchant bank collects credit card receipts on behalf of the merchant form the payment card issuer, it credits their value to the merchant's account. iii. Payment card authorization company/Credit card association The financial institution providing card services to banks (eg. Visa and MasterCard) iv. The customer ‐ The individual processing the card v. The customer's bank -- the financial institution that provides the customer with a card.
Joe Cantinori inquires about his unpaid bill and asks whether the physician received payment from his insurance company. When you check his record, you find that your office submitted the insurance form on his behalf. However, the physician did not accept assignment on the claim, since he is not a PAR provider in that program. This means that the insurance company will send the payment directly to Joe. How would you explain this to Joe
1. You place an order. 2. The merchant or their payment gateway takes your card details. 3. These are sent to the merchant bank which will notify the card issuer who can authorise the transaction. 4. Confirmation is returned to the merchant or payment gateway. 5. You are notified.
One pound of flesh.
An eCommerce merchant account is a payment gateway for businesses doing transactions online, primarily using credit cards. The merchant account with the credit card company, such as Visa, is what allows the business to accept credit card payments online and have them processed.