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How To Accept Credit Card Payment Online On Your Website

By: Joe Lee

Accepting credit card payments plays an important role in ensuring the success of your online business. Most of the online transactions are done through credit card payments. Your business will be greatly affected if your website cannot accept credit card.

While it is true that people will still buy your products if you don`t accept credit card payments, you will greatly enhance your chances of closing a sale by giving the customer the option of paying you through credit card.

In this article, you will learn how online credit card payment processing works, how to accept credit card on your website, issues to handle when accepting credit card payment on your website, and 3rd party credit card processors.

So, how does it work? First, you`ll need to have a merchant account. In fact, a special type of merchant account called internet merchant account. Don`t worry if you don`t have one now. I will show you how your website can still accept credit card even without a merchant account. It is a special banking account that enables you to process credit card payment from your customers.

Credit card payment involves a very simple process i.e. to transfer funds from the customers credit card account to the seller`s bank account. The sequence is basically as follows:-

1. The customer goes to your site and decides to buy from you. He then enters the credit card details onto a SECURE ORDER FORM on a secure server (denotes as httpS://). The next stage is basic fraud avoidance like validating the card number and address verification etc.

2. Then, this information is transmitted through a payment GATEWAY to the Credit Card Association such as Visa or MasterCard. A GATEWAY is the mechanism that transfers your customer`s credit card details to the processor so that you get paid.

3. Transaction is either authorized or declined depending on the state of the card, whether it has been stolen, or has exceeded its credit limit, available funds and other things it deems important before allowing transaction to go through. Results are sent back to the merchant. If it is authorized, the customers will be led to a 'thank-you page' where the downloading instructions of your infoproduct are given.
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