Automated response Unit is a good help in financial processing
December 5th, 2009 | 
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ARU stands for automated response Unit which aids in processing the transaction via the telephone or cellular phone. Here the credit card details are manually entered and authorized through the telephone. This method has been used till date in nearly every credit card processing systems and is still used by some financial institutions today. This system is a little risky and cannot be made 100% fraud proof. It also puts the merchant account on risk.
Payment Gateway
A payment gateway plays a vital role in deciding the success or failure of an online transaction. A payment gateway is a separate entity and the customer does not directly interact with this gateway.
In other words payment gateway is an ecommerce service that aids in the verification and authorization of all online transactions of ebuisness and retailers.
The payment gateway consists of the following two options. It acts as a virtual Point Of Sale (like the terminals at retail outlets) It is at this gateway that a customer can securely login and give credit card information.
It also allows real time processing of the websites shopping cart after checkout. API aids in connecting to this gateway thus easing the entire credit card processing system.
Latest trends
According to a latest survey conducted to compare and contrast the services of various credit card processing services available in the industry, Flagship Merchant Services tops the list. Next in line is Merchant Warehouse, go Merchant Accounts, Chase payment, Transaction group. The inferences where made based on various important aspects of credit card processing service like the Application processing time, Required monthly fee, customer service, payment gateway, merchant accounts and virtual terminals.
Flagship Merchant account services were found to have a very high approval rating and charges low fees. The application process is paperless and hassle free. Flagship Merchant services allow you to operate with them on a month to month basis and you don’t need to sign a long contract with them. This reduces early termination or closure fee risks
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