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Payment Processing: How Does It Work?

capture-enrollment“Payment Processor” definition, according to Wikipedia: “A company (often a third party) appointed by a merchant to handle transactions from various channels such as credit cards and debit cards for merchant acquiring banks.  They are usually broken down into two types: front-end and back-end.”

Huh?

What’s the difference between a front-end processor and a back-end one?  What makes a bank an acquiring bank?  Is my bank my processor too?

Confused yet?  If so, you’re not alone.

Most of us participate in payment processing every day, yet we don’t think much about how it works.  We swipe magnetic strips, insert chip cards, or enter sequences of numbers online for payments we make large and small.  The process is invisible and seems like magic, but it’s not.

Let Diamond Mind show you how payment processing works and how it benefits independent schools and their school families.

Click and watch our recorded webinar here:  Demystifying Payment Processing.

Learn what happens to make electronic payments possible!  While you learn, you’ll also hear how schools and Diamond Mind work together and how Diamond Mind can help your school business office run smoothly.  Contact us at info@diamondmindinc.com or 888 566-0945 x777.  We look forward to hearing from you!