What is business flow for accepting Credit card payment ?

Question

I have enabled the Credit Card Payment option on my Magento Site ? I have also successfully to completed a Test Order using a MasterCard.

My qtn: What next ? How do I process the Payment from the Card to our A/C ? Do i need to setup a link from Admin or is manually done ?

Thanks.

Aspiration Hosting · Accepted Answer · 2014-08-25 08:07:51Z

0

You will need a merchant account or a PayPal account at minimum.

If you have a merchant account, the amount charged to the card will be transferred to your bank account by the payment processor.

Let me know if this is not what you meant. :)

answered Aug 25, 2014 at 8:07

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Thanks for prompt response. How do i go about setting up a Merchant A/C ? Do I input details into "Payment Services" from Admin after i have spoken to the Bank ?
– Mave
Commented Aug 25, 2014 at 8:15
It depends on which merchant account you go with. Some of them will require an extra plugin/extension for Magento to communicate with their servers. Some popular merchant accounts include Authorize.net, CDGCOmmerce, etc. A modern payment processor like Stripe or Braintree is much easier to setup than a full blown merchant account but you'll need an extension to integrate them into Magento.
– Aspiration Hosting
Commented Aug 26, 2014 at 8:22
Thanks again. I simply want VISA & Mastercard. Do you any experience with these 2 ?
– Mave
Commented Aug 26, 2014 at 10:56
Yes any merchant accounts will allow you to process Visa and MasterCard.
– Aspiration Hosting
Commented Aug 26, 2014 at 17:29

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