What are merchant services and what is credit card processing?
Merchant services allow businesses to accept credit card payments online and in-person while also maintaining a level of security to mitigate fraud and lost capital.
Cocard Direct enables the secure transaction for a business from customer to the issuing bank of the debit or credit card used by the customer. Cocard Direct security is PCI compliant and has anti-fraud services, including end-to-end encryption, tokenization, and two-factor authentication.
Cocard Direct has many options for merchant services including payment processing, ACH transfers, gift cards, customer loyalty programs, payment gateway, the ability to accept credit cards online, mobile payment processing, and merchant cash advances.
Who is involved for payment processing?
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Merchant
The business that is collecting money for products or services to the end customer.
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Payment gateway
Portal that allows merchants to securely accept credit card payments from customers.
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Merchant bank
Bank where the business stores their money.
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ISO/MSP
The Independent Sales Organization (also known as Member Service Provider) connects the card issuing bank and the merchant.
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Issuing bank
Financial institution providing the credit or debit card to the customer.
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Card association
The issuing bank will offer a type of credit or debit card from a card association such as Visa, MasterCard, American Express, and Discover.
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