Pay Visa Credit Card

Payment with Visa credit card

The Visa payment system We' re writing about many branch related employees of the card business here in this blog: Service, System, Products, Best Practice, etc. As best we can, we try to tell you how the credit card business works and, more importantly, where your place is. It' the Visa payments system, the largest payments system in the whole wide range and the one that will probably process most of your card payments.

Let's take a look at how visas work. Which is Visa's payment system? Visa's system comprises technologies, as well as goods, as well as service and merchandising programmes that facilitates the sharing of information and money electronically between banks, traders, consumers, corporations, non-profit organizations and government. Visas define the regulations that allow safe and reliable execution of certain types of transaction, as well as operational and technological details.

And who participates in Visa's payments system? Following companies participate in every Visa enabled transactions. Dealer - a company (business or non-profit) that is entitled to use Visa credit card to pay for goods and provide a service. Aquirer (also known as a commercial bank) - a credit institute and a Visa member who enters into agreements with traders to pay for goods and provide certain Visa card payments.

The cardholder is an authorised Visa card holder. Borrower - a credit institution and a Visa member issuing Visa card for use in transactional activities and making arrangements with its card holders for the settlement and of such transaction. Visas Inc - a listed company that works with banks that issued Visa credit card (the issuer) and/or signed merchant Visa credit card to pay for goods and provide service (the acquirer).

Visas offers card services, supports the Visa trademark and lays down the terms and conditions for handling card transfers. Visas also runs the world's biggest retailer online merchant transaction platform to simplify the transaction workflow between acquiring companies and card issuing companies. VisasNet - part of Visa's single user ePayment system, VisasNet is a set of schemes comprising the following:

Authorisation services that allow card publishers to authorise or reject Visa card purchases. An electronic clearance and clearing services that settles trades between acquiring parties and the issuer to secure this: Visa transaction payment is made easier by the issuer to the acquirer in order to be added to merchants' account. Now, let's see how all these subscribers are fitting into Visa's system.

This is how each of the above units takes part in a Visa transaction: Cardholders provide the merchants with a credit card. Card information is directly scanned from the card by a POS terminal, input by the retailer with a code or provided by the card holder on the retailer's website or over the telephone.

Merchants transmit the information on the transactions to the acquirers. Visa receives a payment authorisation enquiry from the acquiring party. Visas will send the application for approval to the issuing body or, in certain cases, may carry out stand-in operations on the issuing body's account and authorise or refuse the operation. Visa will receive an authorisation reply from the issuing company either authorising or refusing the operation.

The Visa will send the authorisation reply to the acquiring party. It is the acquiring party who forwards the authorisation reply to the retailer. Typically, a visa operation consists of three phases: authorisation, clearance and settlement: Authorisation is the procedure by which the originator approves or rejects a trade (as shown in the figure above). Clearance is the procedure of transferring definitive trade information from acquiring parties to issuing parties for processing.

This phase is used to calculate the fee and charge for the operation. Clearing is the real transfer of resources between the acquirer and the issuer for all settled trades. This is a graphical illustration of the last two phases of the visa payments process: If you are a Visa trader, you are involved in the Visa payments procedure at the cash desk of your shop, where you accept your customers' debit and credit card payments.

No matter if you're new to the business or if you' re new to it, if you do a few fundamental card adoption processes, you'll do it right the first and every one. This table gives an outline of the Visa card acceptability process that should be performed at your point of purchase kiosk. Provided you comply with these card acceptances at the point of sale, you will not be held responsible for any loss resulting from cheating.

Part of your work is to make sure to the best of your knowledge that every card you pay for is genuine. Verify the characteristics and safety precautions of your customer's card to make sure it is current and has not been modified in any way. When one of the Visa card's safety feature is absent or appears to have been changed, you should make a Code 10 call or answer according to your business procedure.

Lastly, you must make sure that the client sign the proof of purchase (if necessary) and check this against the one on the back of the card. According to the Visa card and POS terminals used, the client should have a full overview when either affixing the signatures to the receipts or displaying the signatures within the terminals area.

When verifying the digital signature, check the name and bank number on the card against those on the payment slip. When using swipe card operations, ensure that the last four numbers of the card bank number correspond to those on the voucher, as shown below. Once the signatures have been obtained, the ones on the back of the card correspond to the signatures on the proof of purchase.

Visa's payments system processes most of the card operations of a traditional retailer. Unique handling utilities (e.g. point-of-sale terminal and gateway ) may differ from vendor to vendor and are dependent on the environment of the deal, but are all dependent on the same main units (some deals may include one or more extra participants) and are handled in exactly the same order of interaction as described above.

Picture credits: Visa.

Mehr zum Thema