Payment Processing: Overview and BlueSnap

Payment processing is the process of transferring value from a customer to a merchant, which can be carried out either in physical stores or online. It consists of several steps, such as authorization, payment gateway verification and settlement. Businesses rely on payment processing to accept payments, enhance security, reduce operational costs and facilitate repeat purchases. Payment processing services are offered by specialized companies such as BlueSnap , which provides merchants with platforms to accept various types of payments.

The Four Main Steps of Payment Processing

The four main steps of payment processing are: authorization, payment gateway validation, capture and settlement. Authorization involves verifying that the payment card details provided by the customer have sufficient funds and the details have not been stolen or forged. Payment gateway validation verifies the payment details provided by the customer and checks if the payment can be processed securely. Capture ensures that the funds are transferred from the customer’s bank to the merchant’s account. Settlement is the final step of the process and it involves the funds being fully transferred from the merchant’s bank to the customer’s account.

Types of Payments Accepted by BlueSnap

BlueSnap offers merchants the ability to accept a wide variety of payment types. These include credit cards, debit cards, e-checks and electronic wallets. BlueSnap also accepts alternative payment methods, such as PayPal, Amazon Pay and Apple Pay. By accepting multiple payment types, merchants have the flexibility to offer customers more options when making a purchase.

Security Measures Used by BlueSnap

At BlueSnap, data security is of utmost importance. All transactions are encrypted using Secure Socket Layer (SSL) technology for maximum security. In addition, BlueSnap uses two-factor authentication to further protect customers’ data. Furthermore, all payments processed by BlueSnap are monitored for fraudulent activity. This helps to protect both the customer and the merchant against any potential losses due to fraudulent activity.

Customer Support and Fees Assessed by BlueSnap

BlueSnap offers round-the-clock customer support to ensure that merchants are able to quickly resolve any payment issues. Support is available via email, phone and live chat. In terms of fees, BlueSnap charges a transaction fee of 2.9% + $0.30 per transaction. There are no setup fees and no monthly fees, but there are additional costs associated with certain payment methods such as PayPal.

Benefits of Using BlueSnap for Payment Processing

Overall, BlueSnap is a reliable and cost-effective way to process payments. It offers businesses multiple payment options and enhanced security measures, making it an ideal choice for those looking for a secure payment gateway. Additionally, it is easy to use, offering real-time access to payment reports and analytics. Finally, BlueSnap has 24/7 customer support to help merchants with any payment issues they may face.

In conclusion, payment processing is an important part of running a successful business. With the right payment processor, such as BlueSnap, merchants can offer customers multiple payment methods, enhanced security, low fees and robust customer support. This can lead to increased customer satisfaction and an improved overall customer experience.