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When it comes to shopping, nothing says more about ease of use, huge selections and convenience rather than the online shopping experience. With online shopping, you can easily surf through the different items that are up for sale and look through them.

Additionally, you don’t have to get your items because they will be delivered straight to your doorsteps and when it comes to payment, you no longer need to use cash since it’s all done with credit cards. Many of us though wonder about the online credit card processor part of the online shopping experience.

An online credit card processor is basically the one who processes the credit card of the customer and transfers funds to the seller’s bank account, all done online. When you have an online store and you want to have an online credit card processor service available for your customer, you will need to open two accounts. The first account will be your merchant account for your business and the other will be a checking account from your bank. After each online transaction is done, the online credit card processor will transfer funds to your merchant account.

When a customer checks out of an online store, the store would ask for their mailing address and credit card information. Upon clicking of the checkout or pay button, the transaction will be sent to the bank that issued the card for verification. All these are done in a matter of seconds; while the customers are waiting, the bank will send the money to your business account and inform the shopper that their payment is successful.

Online stores would usually give tracking numbers so that the customer can keep track of their items while they’re on their way. If in the event that the customer gave wrong credit card information, the online credit card processor will ask the customer for a new credit card.

Many online stores make use of PayPal and Google Checkout as their online credit card processor because these sites offer free and easy payment transactions. They no longer have to go through the banks and thus eliminating any charges or fees. When opening merchant accounts or checking accounts, banks may charge you a onetime fee or transaction fees.