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Chapter 11 - How Transactions Work

Before taking the plunge, aren’t you the least bit interested in learning more about the bank card world? Unless you are a banker, there are probably many things to learn regarding the industry. How card processing came about, who processes the actual transaction, what influences processing costs. These items will be covered in the next four chapters.


You, me, and most every adult in the United States is in a scandalous affair. With their credit card! What are the 5 key benefits that attract consumers and merchants alike? How can this knowledge help your sales efforts?


There are only two types of people in the processing word. Those who use credit cards and those who accept them. Many times one person can be both! We will take a look at the needs, concerns and issues of each, and see how one influences the other.


Our final topic of conversation is in introduction to how payment cards are processed. We will track the dollars from consumer to merchant, and demystify the process. Thus armed, you will better understand the value which you will bring to the merchant, from both a financial and service perspective.

iProcess - Knowing the Payment Industry

Chapter 11 - Transactions, Consumers, and Merchants

Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust

- Zig Ziglar

Before we move onto interchange, it is important to understand that the process explained previously is generally the same across the way that payment processing can occur in today’s market.

Not all cards are ‘swiped’. The card data may be provided in other ways:

  • Keyed-In Transactions (Non face-to-face activity) Transactions such as these occur either over the phone or via an internet-driven purchasing activity. Such examples are ordering a pizza for delivery or visiting Amazon.com and making a purchase.
  • Pin-Based Transactions Transactions . . . 

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iProcess - Sell Payment Processing Like a Pro!