Credit card processing for your online business

What is credit card processing?

For the merchant

For businesses, credit card payment processing means accepting credit cards as a payment method within their online store or website. A consumer provides merchant credit card data to be processed, which usually delivers the money to the merchant's account in a couple of days.

For the payment system

For the payment service provider, this definition means so much more - there are many parties involved from the time the card is used for the payment until the money is transferred into the merchant's bank account. And each of them is in charge of a critical phase in the sequence of events.

Step 1

The customer enters card details on a merchant’s website.
Step 2

The merchant sends the payment data via payment gateway tot the acquiring institution.
Step 3

The acquiring institution securely forwards the card data to the card network.
Step 4

The card network requests payment authorization from the cardholder’s Issuing bank.
Step 5

The Issuing bank sends the response (approwed or declined) back.

Credit card payment processing involves the following parties:

Buyer with card (Cardholder)

Someone who has a bank card or credit card.
The issuing bank

A bank that issued the credit card
The merchant

A business accepting credit card as payment for provided goods or services

The payment system

The payment processing software provider that enables merchants to accept online payments
The acquiring bank

The bank that transmits transactions to the network, which subsequently forwards them to the issuing bank

There are two possible integration options offered within our system:

Hosted

Integrated

For the merchant:

Simple, no-coding integration

Reccuring payment option

Full interface customisation possibilities

Firm security provided by the processor

The checkout page is located on the processor's website

Payment details are transmitted directly to the payment processor

For the client:

Redirection to payment page

The cart summary is available on payment page

For the merchant:

The fully-guided setting, yet IT forces required

One-click payment option

The checkout process is located on the merchant's website

Payment details are collected directly from the merchant's website

Fully-customisable interface

For the client:

No redirections to payment page

The checkout process is executed as a seamless procedure

Possibility to pay for the following purchases in one click

Processing costs for credit cards

Many payment processors have a slew of hidden costs when it comes to credit card processing.

Transactional fees

Such as interchange reimbursement fees and assessments.

Flat fees

Such as PCI fees, yearly fees, early termination fees, and monthly minimum payments incidental expenses, such as PCI fees, annual fees, early termination fees

Monthly minimum fees

Like chargebacks or verification services.

Pricing offered by exactly® is fully transparent and tailored for each business individually. Before cooperation beginning, merchant is provided with the list of possible costs for all types of transactions that may appear.