In the case of an Internet merchant, two options exist. If the merchant wants to process credit cards in real time or is a new merchant, then he or she needs to apply for a new Internet enabled merchant. Even though electronic business is booming, merchants dealing with the unseen customer still have a difficult time being accepted by banks. Startups and certain types of commerce are categorically denied access to merchant accounts by most financial institutions. Transaction Processing Linking to a payment gateway such as SurePay, generates an authorization request when the customer places an order which can then be authorized in real time, without any intervention by the merchant.
Settlement occurs at the time of fulfillment by the merchant.
The easiest process to integrate into an existing business is an off-line authorization and settlement process. For more advanced web merchants who are processing more than 50 transactions per month, real time credit card authorization becomes economical. Northern Trust Merchant Services, a First Data alliance, offers world class payment processing capabilities not to mention industry leading customer service. Being aligned with the world is largest back-end payment processor brings the benefits of size and scale to merchants that others cannot. With cutting edge monitoring tools backed by extensive disaster recovery plans , Northern Trust Merchant Services can ensure that from the time of authorization to the time of settlement, your transactions will be processed in a timely, effective manner.