Merchant account payment processing

[caritop]

Hey everyone, I’ve been looking into setting up a merchant account for my small business, and I’m a bit confused about how payment processing works. Can anyone explain it to me?

[Gior]

Sure! Payment processing is essentially the process of transferring money from the customer's account to the merchant's account when a purchase is made using a credit or debit card.

[carrabad]

Hello. Merchant account payment processing https://corefy.com/ru/glossary/merchant-account-payment-processing refers to the system that allows businesses to accept payments via credit and debit cards. When a customer makes a purchase, their card information is sent to a payment processor through a payment gateway or terminal. The payment processor then communicates with the customer’s bank to authorize the transaction. If approved, the funds are held in a merchant account before being transferred to the business’s main bank account, minus any processing fees. This entire process ensures that transactions are completed securely and efficiently.