What is Bankcard processing?

pretty-lady-bankcardBankcard processing refers to the process of accepting different types of cards issued by banks. In business terms this typically refers to credit card and debit card processing. Credit card processing merchant services will generally accept debit card processing as well.

A debit card is something that customers will resort to if they are extremely conscious of their spending habits. Essentially a debit card is a checkbook in plastic form and the transaction is instantaneous. Transactions are refused if the customer’s account does not have sufficient funds. This means that a customer can never get into debt by spending money they don’t have, as is the case with credit cards.

Your business may be considering a move towards more payment methods, such as accepting credit cards. In this situation, the merchant account processing provider you choose should ideally support bankcard processing as well. By having this feature, you will give your customers more options to spend. This will also increase your customer base because customers who do not possess credit cards can now make purchases with you.

To learn more about bankcard processing, talk to a representatives from several merchant services companies. They will be able to give you industry specific recommendations, which will help you find the optimum package for your type of business. You might want to investigate the option of multi-tier pricing, which will give you pricing options for different types of cards instead of a blanket cost for all types of cards. Making an informed decision in selecting a provider will benefit your business greatly.