The Safest Options for Card Payment Processing

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The Safest Options for Card Payment Processing
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Importance of Principal Members of VISA and
MasterCard

• Principal members of Visa, Master card brands are
  the banks or financial institution that are
  authorized to acts as issuing bank that is they
  can provide credit cards and can act as
  acquirers, means the financial institution that
  provide transaction processing services.The
  principal members are responsible to contact
  directly to the card brands that
  is VISA, MasterCard or others and settle the
  funds of those transactions.

Banks might ignore to work directly with them or
ask for guarantee from any third party, if any
high-risk businesses, like gaming, e-Cigarette,
pharmacy, firearms, adult products, media
productions, start-up and more.
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Pivotal Role

• Thats where, these principal member financial
  institutions play a pivotal role by just cross
  checking the business documents and existence. If
  they find the business eligible for association,
  these institutions just ask for fulfillment of
  the minimum legal requirement that is generally
  required for establishment of merchant accounts.
• These principal members have the capability to
  enable any business to process cards for any
  online business for which they can assist the
  merchant to get the access of virtual terminal to
  collect and authorize the payment. Many of such
  financial institutions have authority of
  accepting and exchanging the currency and have
  option for acquiring remote payments. These
  financial institutions are certified by Payment
  Card industry Data Security Standard Council (PCI
  DSS). This proves that they have secured data
  management systems deployed for their data
  management of card information.

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Using Financial Institution Reasons

• The reason behind the merchants or corporate
  prefer to contact such financial institutions
  over the traditional banks to get access of a
  merchant account and virtual terminal is unlike
  banks, these financial institutions provide ample
  support to merchants, regarding any issue that
  merchant can face during authorization or funding
  of the transaction of money.Plus, these
  institutions have some of the technologically
  advanced products that help merchants to analyze
  their business process, improve their working
  strategy and grow their business.
• The other transaction related services that these
  financial institutions provide to merchants is
  notification about every transaction that is to
  be transferred to Merchant account for product or
  services that is ordered by the buyer.
• They also help merchants to cross check the
  validity of the transactions which will ensure
  that the merchant have the safe environment while
  dealing the customers.The most crucial support
  that these financial institutions provide to
  merchant or account owner is the notification
  about the cases of transactional disputes that
  are also known as Chargeback.

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How It Work

• Most of their working is dedicated for card
  processing they have other business products that
  are specifically dedicated to providing services
  to merchants, business or corporate who look for
  keeping or transferring the payment (that is
  salary, business, gift, prepaid or any other such
  type of wallet cards) or accepting card payments.
  Many of these institutions have their own
  developed card authorization virtual
  gateway/terminal. All these financial
  institutions accept any type of card payment
  issued under the card brand VISA and MasterCard.

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