Wireless Credit Card Processing

New credit card processing options are available to telephone and mail order merchants that make it easy to do credit card processing by phone. A wireless credit card reader makes it easier for mobile merchants to obtain authorizations from remote locations than ever before. In most cases wireless credit card processing is even faster than for traditional landline transactions. Dedicated networks have been developed for wireless credit card processors of all types, which can transmit and receive data faster than most cell phone networks. Wireless credit card processing increases sales, saves time, and reduces operating expenses. * Wireless is small, lightweight, and portable. Can carry in your pocket! * Can accept cards where it previously was impossible (in a parking lot, outside a sports event, etc.) * No second phone line needed and no need to rent phone lines at tradeshows. * By swiping credit cards you get lower rates. This one feature alone can save you hundreds of dollars per month. * Reduces risk. Swiping reduces chance of fraudulent or stolen card being used. * Increased security. Wireless processing reduces the amount of cash you and your staff handle. How a wireless credit card processing works? 1. The merchant slides the customer's card through the wireless credit card machine and enters the sale amount. Using a technology similar to a cell phone, the terminal will connect to a radio tower and send the credit card information and amount of the purchase. 2. The transaction information will be routed to Merchant account's processor. 3. Merchant account's processor will pass that information onto the bank that issued the credit card. The issuing bank will check to see if the card is valid and if the amount requested is available on the card, and set aside the amount of the purchase for the merchant. 4. The issuing bank will send back an approval number or a decline message to Merchant account's processor. 5. The information will be passed back to the mobile credit card machine, which will print a receipt for the customer to sign if the card is approved. It will take approximately 8-12 seconds to complete steps 1-5. At the end of the day the merchant may manually "settle" their terminal which will begin the final process of the transaction. In most cases Merchant account's processor can automatically settle the transactions at a specified time each day. Once the settlement process is initiated the funds will be transferred from the card issuing bank and Merchant account's processor will electronically deposit them into the merchant's checking account. It typically takes two business days from the time of the original transaction for the funds to reach the merchant's checking account.