Processing Credit Card: Best Merchants Rates Are What Is Needed To Start Any Business. Mobile Credit Card Processing Consultants Merchant accounts are what make it possible for a business to not accept cash only. A payment card is usually a debit or credit card. To create an account such as this, there must be an agreement. A merchant bank and acceptor establish these agreements. Credit card processing is also under the agreement. Today majority of credit card transactions are sent electronically. This will include the capture and deposit as well as authorization. Another name for this is merchant credit card processing. While there are more favored methods, there are many different ways to present a credit card sale. No matter what the card must be read by a device. A credit card can be read by being manually entered into a card terminal, computer or website. It use to be that the only way to read a credit card was sending in the information by mail. Credit Card Processing Iphone It was also popular to pay over the phone. These two payment options are still available today, they are just overshadowed by the more popular electronic alternatives. Now a days most people are not paying for things with cash, so it is important to have a small business credit card processing system. A terminal for credit cards is a stand alone piece of electronic equipment that allows a merchant to enter or swipe a credit card. These machines can also process gift cards and more. These machines must usually be plugged into a power supply and a telephone line. There are now devices that can be attached to smart phones and iphones that accept credit card payments on the go. A payment gateway is an e-commerce service that authorizes payments for e-businesses and online retailers. An online business needs e-commerce credit card processing, to do this a payment gateway is necessary. A payment gateway authorizes online payments. A merchant account provider is usually through a separate company than the payment gateway. A gateway usually has 2 components; the virtual terminal that can allow for a merchant to securely log-in and a key in credit card number. This also allows for real time processing on a merchants website.