Retail Credit Card Processing

If you are doing business face to face, accepting credit cards is absolutely a necessity. Each year more and more consumers are not paying for their purchases with cash or checks. In fact debit transactions have been increasing at a staggering rate to the point that 65% of all transactions with any type of plastic card is a debit card. Your business is in jeopardy of losing sales if you are unable to accommodate this growing trend.

Whether you have a store, restaurant, or kiosk, Genesis Capital together can help your business set up a merchant account and accept all debit and credit cards for less money than you ever thought possible. In addition to providing processing for you with a credit card terminal, POS system, and a PC, we even offer the ability to transform your IPhone into a credit card processing device that you could take on the road with you to sell your products or services.

How Retail Credit Card Processing Works

The merchant swipes the customer's credit or debit card through the credit card terminal and enters the total sale amount. The terminal then connects to our processor for authorization.

The processor passes that information onto the bank that issued the credit card where the bank verifies the card and sees if the requested amount is available on the card.

The issuing bank then sends back an approval number or a decline message to our processor.

The information is passed back to the credit card terminal which prints a receipt for the customer to sign if the card is approved. It takes approximately 12-15 seconds to complete steps 1-4 on a credit card machine using a phone line. The newer internet enabled machines can cut this time to just a few seconds.

At the end of the day the merchant must “settle” or “batch out” their terminal which will begin the final process of the transaction. In most cases we can automatically settle the transactions at a specified time each day. Once the settlement process is initiated the funds are transferred from the card issuing bank and are electronically deposits them into the merchant's checking account. It typically takes no more than two business days from the time of the original transaction for the funds to reach the merchant's checking account.

Many businesses can benefit from an merchant account including:

Sole proprietors including attorneys and consultants to independent contractors who provide services to clients

Large commercial firms that need a large quantity of credit card transactions processed

Highly specialized shops that only do a few credit card transactions and need those to be secure

New or established retail shops that need to stay ahead of the curve and fit cashless commerce into their operations

Any kind of business that takes place either partially or totally over the internet.

START ACCEPTING CREDIT CARDS TODAY! Fill out the simple form above to the right or call 1-516-484-8411 to start accepting credit cards today with Genesis. We absolutely guarantee the most competitive rates in the industry and if you already have a Merchant Account with another processor, we will pay you $500 if we cannot save you money each month.