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ank Acquiring Solutions is a good and most effective
partner and way of merchant’s debit & credit card payment processing system
and it is a financial institution or also known as an acquirer. The rapid
growth in banking services from last two decades has changed the geographical
and functional scope of banking. Now today’s all banks are transforming the way
of transaction in diverse mode which play better role and will be proof so comfortable for
merchants. ATM channel and mobile banking is one of the most popular
comfortable ways of transaction.
Today’s customer
looks convenience for payment and finds it comfortable by using diverse mode of
payments. Bank Acquiring Solution’s
transaction switching services provide integrated payment processing, card
management, and merchant acquiring solutions.
This era is
partially focus on online selling and purchasing system where customers consume
their time and money both without going on any mall and shopping center door
and this online shopping trend is increasing the use of credit and debit card
facility. Sometimes online payment process proof as complicated for merchants but
bank acquiring solution keep out so far to this complication, process the
credit sales of merchants, and credit them to the account of merchants.
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Payment Processor
The payment
processor is a significant part in this payment mode it uses the technical and
software system as recommended and creates the possibility to be associated
with various card associations. Gradually it is third party appointed by a
merchant to handle transaction from various channel such as debit card and
credit card for merchant acquiring banks, which is broken down into two types
front-end and back-ends system.
The concept known
as software as service (saaS) is partner with merchants for modern payment
processor, for any operation it takes few seconds and checks the both details
issuing bank and or credit card association for verification.
For more,visit: https://www.payscout.com/bofa
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