Also, processing credit cards using a cell phone does not require any initial equipment fee or set up costs. A cell phone payment-processing system uses a particular gateway of dialed numbers for processing the payment. An alternative to wireless equipment for accepting credit cards is using a cell phone or touchtone phone to process payments. The maximum time taken for the transference of funds is usually two business days. This entire process takes no more than 8-12 seconds! At the end of the day you may initiate the settlement process with the bank, which will then deposit the funds into your merchant account. The final information is sent back to the wireless credit card terminal, whence a receipt is provided to the customer. The bank may send a decline message in case the card is reported stolen, or there is any other reason, strong enough to prevent the credit card transaction from going through. If the card is valid and the amount required for the current transaction is available on the card, the necessary funds will be earmarked and an approval will be sent back to the processor. The processor further transfers this information to the concerned bank, to which the customer's credit card belongs. The customer's card is swiped on the wireless machine, which connects to a radio tower to route the transaction information to your payment processor. Wireless credit card equipment comes in very handy as you interact with your customers! This is how wireless equipment is used for processing credit cards. The advantage is that you can take the wireless equipment to any corner of the world to make a transaction with a physical credit card. For Pizza deliveries, transportation services and other ?on?the-move? high-volume businesses, wireless equipment is a perfect fit! However, to use wireless credit card equipment, you need to shell out money for the initial setup and equipment fees.
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