Accept All Major Credit Cards
No matter where you are accepting payments: in-person, online or on-the-go, 365 Glacier Payments makes it simple to accept all major credit brands and methods of payment. With 365 Glacier Payment’s wide ranging processing solutions, which include credit and debit card terminals, virtual terminals, payment gateways, point-of-sale systems, and mobile apps, merchants are able to find the right option and combination of payment solutions to insert, swipe, tap or manually enter payment information. Regardless of the credit type or payment environment, 365 Glacier Payments has you and your business covered.
Glacier Payments offers merchant services and payment product solutions to a wide variety of individuals and businesses. Let us provide you with a secure and frictionless payment processing solution that fits your business and industry, as well as integration options that align with your industry specific management tools.
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How Does Credit Card Processing Work?
Understanding all of the working parts involved in
processing a credit card transaction
1. Cardholder: This is the person who wants to buy the product or service. They apply and obtain a line of credit and then provide the information for their credit card to make the purchase.
2. Merchant: The company which is selling the product or service to the cardholder. The merchant accepts credit cards, collects the information about the card and the sale, and then requests payment authorization. In a brick-and-mortar store, this is often done on a point-of-sale (POS) system.
3. Payment Processor: The company which processes the credit and debit card transactions for the merchant, as well as provides the software and/or hardware to conduct credit card transactions in person or online.
4. Issuing Bank: This is the bank with which the cardholder has an account(s). They provide credit, so the cardholder can make purchases. Issuing banks may be banks, credit unions, and other financial institutions.
5. Card Associations: Major credit card brands like Visa, MasterCard, Discover, and American Express are card associations. They set the policies and standards for payment processing (such as interchange fees), and serve as the middle man between issuing banks and merchant banks.
6. Merchant Bank, Acquiring Bank: This is where the merchant has an account, and credit card payments are deposited to these accounts. This bank receives the payment authorization request, sends it, and shares the response with merchant. The merchant bank is also the payment processor in some cases.