Payment Processing Service for visa payment

visa payment

1. Payment Processing Service By Ibrahim El-Attar April 2022

2. Aims of the presentation: Explain my understanding about processing. Explain the added value that I will make in this area. Explain the plan and perception when it comes to dealing with clients, and convincing them to purchase the processing service.

3. My understanding about processing

4. What is payment processing? Payment processing is the way in which a payment made by a customer on your eCommerce website makes its way to your account. This process requires several parties working together to ensure that the customer has the necessary funds to pay for the product or service they want and to then transfer the funds to the merchant’s account.

5. Which Parties Are Involved in Processing a Payment? Customer  - the person who makes an order on the website and proceeds to pay with a debit or credit card. Merchant  - the business that provides the product or service and wants to accept the debit or credit card payment by the customer. Payment gateway   -  is the secured connection between your website’s shopping cart and the payment processor . Payment processor  - also known as the payment service provider (PSP), the processor authenticates the transaction with the issuing bank regarding the availability of funds in the customer's account and then confirms or rejects the transaction. Issuing (customer) bank  - the bank from which the customer's funds will be transferred . Acquiring (merchant) bank  - the bank at which you, as a merchant, will receive funds in exchange for selling your products or services.

6. The Difference Between a Payment Gateway and a Payment Processor? The payment gateway  is the software that encrypts the customer’s transaction data and sends it to the payment processor. It enables the merchant, to provide customers with various payment options, such as credit and debit card payments, bank transfers, eWallets , and other alternative payment methods. The payment processor receives the encrypted transaction information from the payment gateway and then sends it to the credit card network and the issuing bank for authorization. It provides the exchange of information between the acquiring bank, the issuing bank, and the merchant. The online payment gateway and payment processing can sometimes be provided by the same company.

7. The Added Value for MDP Organization

8. I can add value to MDP Organization by performing 7 things: Good Customer Service Bring in More Money Increasing Efficiency - Monthly reports - Client presentations - Minutes of the meeting - Price quotations - Contracts - Invoicing and billing - Inventory management 1 2 3 - Up sell products to existing customers - Improving customer experience, and using new sales techniques - Use the right paperwork, product samples, to impress potential customers - Serving customers through different channels with high quality

9. I can add value to MDP Organization by performing 7 things, etc.. Save Resources Becoming an “expert” in a specific task Reduce Your Manager’s Stress and Workload - Showing that I am capable of handling more tasks is one way to prove I am ready for such a responsibility. - Volunteering to take on more tasks, even those at your current skill level also contributes to the company 4 5 6 - Being an expert in a task can increase my contribution to the company, and enables me to help others with their work. - By completing work on time and utilizing the given resources, I am assisting in saving money for the company and being a valuable employee.

10. I can add value to MDP Organization by performing 7 things, etc.. Solve Problems 7 Taking the time to find out what can be done to improve the situation . When encounter a problem, I spend time researching two to three possible solutions then create a detailed action plan for each of those solutions, then present it to my boss.

11. Convincing Clients to Purchase the Processing Service

12. - I can convince the clients to purchase the processing service, after explaining the importance of the service to their business, and explaining the potential ROI after adopting the payment processing system. - Also, mentioning some success stories about existing clients will encourage new customers to purchase the service or sign up for demos. - In addition to that I must highlight key features of service: 1 – Accept credit card and debit cards 2 – Offer your customers alternative paperless payment options, like paying via their smart phones with mobile wallets 3 – Integrate payments with your own systems 4 – Direct pricing, direct relationships with no third party involved 5 – Flexibility to grow with your business, due to changing payment options, by helping businesses accelerate revenue through optimized processing while reducing costs 6- Simple reporting and offer financial insights by having instant, accessible,  up-to-date and accurate insights on the sales of a store, company or any business is vital in making better business decisions 7- Security and fraud protection