
Integrate electronic payment processing into your application for better customer service.
Consumer transactions have come a long way since the days of a mostly cash based economy. Now a days if you are a merchant trying to make a living selling or engaging in other transactions over the internet, it is more or less vital to have an online merchant account or credit card account.
For decades, credit cards have relied on magnetic stripes located on the reverse side of the card to store data. To transmit this data, the card must be swiped through a magnetic reader, making physical contact with the stripe.

The Payment Card Industry Data Security Standard (PCI DSS) was implemented to increase the security of credit card transactions at the merchant level. Merchants often keep the credit card information of their customers on file for months or even years. This is done for a number of reasons. Some are required to by the credit card companies, others use the information to facilitate returns and future transactions and still others file customer data under credit card numbers.

For Credit Cards Safety Change your PIN regularly & do not give out your card number or CVV number (three-digit number) to anyone on the phone, unless you are dealing with a reputable company. – When shopping online, submit credit card details only through secure websites. – Always keep a track of your billing cycle & pay bills on time to avoid interest charges & late fees. – Always scan your credit card statements for unauthorized transactions. If you’ve been defrauded, contact the issuing bank

THE TWO COMPONENTS OF A CREDIT/DEBIT CARD TRANSACTION
Each time a merchant process a credit or debit card transaction, she is charged an inquiry fee and a percentage of the total transaction. The inquiry fee is a flat amount, typically between 20 cents and 35 cents. The percentage charged, is typically…