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What is a Credit Card Processor?
Sometimes, in the credit card processing industry, terms and descriptions can get lost in the translation. Before long, you’re more confused than you were before you began your research. As part of the FDIS commitment to its customers, we answer routine questions via our blog entries. Lately, and with so much going on in the industry, we’ve been asked to differentiate between credit card processors, swipers and check feeds.
A credit card processor is the actual hardware or machine that processes your customer’s transactions when they pay with a credit or debit card. It’s connected to the FDIS network and the moment you scan a personal check or swipe a card, that network goes to work in an effort to return an approved or declined message within a few seconds.
Both your card swiper and check feeder are considered parts of the credit card processor. They’re designed to be sturdy and able to withstand wear and tear that’s inevitable near check out lines. Not only that, but your credit card processor retrieves important information almost instantaneously about your customer. If the card has been lost or stolen and was reported, you’ll receive notification, it verifies the billing address and ensures the card is not expired. Consider the credit card processor as your clearing house for all of your merchant credit card processing services.
Finally, the credit card processor ensures the logistics are in place so that you receive your funds from the appropriate bank.
FDIS has several credit card processors and other related hardware that can increase your profits while not breaking your profits. Visit our online store for the latest in technology, including stripe readers, mobile credit card processing units and check readers – all designed to keep your business running efficiently while offering your customers the most payment options.
