Merchant Accounts

If you are a business, you need to set up a merchant account with a bank to handle credit card transactions. This can be done easily with your bank. Usually a fee is charged for this type of transactions yet it is worthwhile for the benefits you get. The flow of the process is, when a customer uses a credit card to purchase a product, money from the customer’s credit card account is deposited directly into the company’s merchant account. The financial institution that sets up the merchant account, process the transaction and deposits the amount to the merchant’s account.

Following diagram shows how the cyber source credit card services function. Cybersource act as the intermediary that receives the credit card payment, transfer it to the issuing bank, receives confirmation and then deposits the money in the merchant’s account.

CyberSource transaction process