This example shows how wireless credit card processing works and how merchants can use a wireless credit card machine to complete sales at almost any remote event.
The merchant swipes the customer's card through a wireless credit card machine and enters the sale amount. The terminal connects and sends the credit card information data thru a network similar to your cell phone.
The transaction information is routed to a processor. In this case it will be a Swipers.com processor.
The processor passes the information onto the bank that issued the credit card. The issuing bank checks to see if the card is valid and if the amount requested is available on the card and secures the amount of the purchase for the merchant.
The bank sends a decline or approval code message back to the processor.
Transaction data is transfered back to the wireless credit card machine. It takes approximately 15 seconds (or less) to complete the transaction depending on the coverage available and network bandwidth.
The sales amounts are then transferred from the card issuing bank and are electronically deposited into the merchant's checking account. Transfer time is usually one or two business days from the time of the "batch/settle" time to where funds are available in your business account.
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