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Usageof credit cards in business-to -business transactions

According to smallbusiness.yahoo.com,when Western Union first

gave charge cards to their best customers in 1914, no one would

have guessed that over $2 trillion would be charged in 2003. As

ubiquitous as credit cards are, their use is still growing. The

exploding world of online commerce is playing a part, as is the

increasing usage of credit cards in business-to-business

transactions. While some businesses could not open their doors

without a credit card processing service, it is more of a

question for others.

Types of credit card processing:

1) Bank: Banks can be the easiest source to turn to for credit

card services; many offer service packages for businesses that

include merchant services.

2) Third Party Processor: Third party processors dedicate

themselves to handling credit card processing. As such, they

take care of different aspects of the transaction process such

as authorization, billing, reporting, and settlement.

3) Independent Sales Organization: An independent sales

organization (ISO) is essentially a registered credit card

merchant broker who represents one or more third party

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processors.

4) Financial Service Provider: MasterCard and Visa requires

establishing a merchant account through an intermediary.

5) Association: Small business and trade associations often

offer credit card processing at discount prices

About the author:

For more information on credit card

processing,please visit http://www.paynetsystems.com<

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