Credit Card Machines Price Guide
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Firms working with credit card processing companies to decrease fraud
Some bank credit card processing companies are working with third parties to offer secure internet sites for customers entering credit and billing information. Small businesses using credit card processing solutions to large Internet merchants use processors to manage the retail credit card processing. However, the banks and credit card companies rely on other firms to make sure the transaction is secure.
The credit card processing solution involves many parties before a transaction is complete. First, the credit card processing company reads the transaction before submitting to the credit company. Another message is sent through another processor to the bank before the purchase is authorized and once it is authorized, a message is sent back to the merchant. These firms start the initial fraud detection at the beginning and charge an additional fee to the credit card processing company.