If you are new to merchant accounts and the credit card transaction and settlement process, here are a few things you should know. National Transaction acts as a link between your business and the financial institutions that issue credit cards and handle the settlement process.

On the front line is a terminal of some sort. Payment terminals range from a swipe machine with keys on the front, to a simple swipe bar that you can plug into a laptop, notebook, tablet or desktop PC. There are also wireless devices that can work through your internet enabled cell phone and others that operate independently from your cell phone on separate cellular towers. There are also web sites that are essentially transaction gateways that you can type in all the transaction details (including the cardholders credit card). There are many options for inputting the credit card information for processing. Learn more by clicking here.

Once the information is swiped, keyed or typed in, the transaction is sent to National Transaction for authorization, fund availability, and upon success an approval code will be returned to the terminal for receipt printing. This usually occurs in a one to three second window of time.

National Transaction interacts with the Credit Card Interchange System to deal with the many member banks that issue credit cards to individual card holders. Upon approval NAtional Transaction hosts the transfer of funds from the issuing bank to the Merchant Bank Account. This simplifies the complicated process for our merchant account holders by abstracting that complex procedure into a layer that is invisible to our customer.

We also Provide online reporting and account management so that books can be reconciled and deposits verified. At National Transaction we are with you every step of the way. No complicated phone menus, no voice mail or phone tag. Pick up the phone, call us, we answer. It's that easy.