In the first quarter of 2024, the credit card sector moved more than R$635 billion , according to the Brazilian Association of Credit Card and Service Companies (Abecs) . This is one of the payment methods most used by Brazilians.
Therefore, it is important to understand how credit card payments work and how to implement the solution in your company. This payment method has specific characteristics that can bring significant advantages to your business.
In this article, we will clarify all these doubts about paying and receiving money by credit card . To find out more, continue reading.
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How does receiving payment by credit card work?
Payment by credit card follows the vietnam whatsapp number data period established with the payment intermediary , which receives the amount from the card brand at the time of sale. The period varies according to the type of sale: cash, recurring or installment.
To do this, the company needs to have an account with a financial institution, so that payments made by customers can be transferred . This can be a traditional checking account or a digital account.
Billing transactions must be made through a payment intermediary . That is, an acquirer, such as a card machine, or a billing platform, such as Asaas .
So, when the company receives payment by credit card, the intermediary makes the connection between the card and the company. It works like this:
- Customer payment: The customer makes the payment, providing credit card details in the transaction;
- Secure sending : The data (card number, expiration date and security code) are transmitted to the acquirer via a secure connection;
- Processing : The acquirer sends the information to the card brand, which in turn sends the data to the bank that issued the credit card;
- Authorization : The issuing bank checks the card’s validity, balance and possible signs of fraud; with the correct information, the bank authorizes the transaction;
- Confirmation : The acquirer receives authorization and confirms the transaction, allowing the payment to be made;
- Settlement : Once authorized, the transaction is recorded and the balance is reserved and will proceed to the settlement process, to transfer the balance from the buyer to the seller.
Does credit card payment go through immediately?
In general, every company must wait for the barbecue pavilions for intermediary’s time to clear the purchase. In other words, the amount does not fall at the time the purchase is made , due to the many steps to complete the purchase.
Asaas, as a financial management platform, clears payments received by credit card within 32 days after confirmation.
However, if the company needs to receive the amounts quickly, it is possible to count on the anticipation of receivables .
This allows the payment intermediary to advance the values of cash and installment sales, making the resources available to the company before the regular compensation period.
What are the advantages of accepting credit card payments?
The use of a credit card to receive cn numbers from a company is essential, due to its widespread use. In addition, it offers a great advantage: secure receipt and quick payment confirmation .
For entrepreneurs, offering multiple payment options, including credit cards, can reduce cart abandonment and increase conversion rates . In addition, accepting credit cards offers other significant benefits.