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Entities involved in the Payment Process
Your Merchant account has multiple entities involved, including:
You (the Merchant), the Merchant Service Provider (MSP), the
Payment Processor, and RTWare.net (the Payment Gateway
and Acquirer of eCheck.Net services).
Merchant
A Merchant is a person or entity that sells goods or services.
Your Merchant account enables you to accept and charge credit
cards.
Merchant Service Provider
The Merchant Service Provider (MSP) is a bank or Independent
Sales Organization (ISO). Usually, your Merchant Service Provider
also acts as your RTWare.net Sales Agent, selling you the
RTWare.net service. Among other things, the MSP normally
does the following:
- Assigns you a Merchant Account Number.
- Sets up your RTWare.net account.
- Assigns you a Login ID and password for use with your
RTWare.net account.
- Acts as your main point of contact for basic issues regarding
your Merchant and RTWare.net accounts.
- Enables you to add certain types of credit cards to your
Merchant account.
- If the Merchant Service Provider is also your RTWare.net
Sales Agent, they activate processing capability for those
cards on your RTWare.net account.
- Deposits credit card funds to your account.
RTWare.net
RTWare.net is your electronic gateway to the payment processing
network. The RTWare.net Payment Gateway allows you to submit
your information securely to the Payment Processor. RTWare.net
receives the results of the credit card transaction from the
Payment Processor, records the results in its database, then
displays the results to the merchant and/or customer. RTWare.net
also acts the acquirer of eCheck.Net (electronic check) transactions.
Payment Processor
The payment processor submits credit card information through
the Credit Card Interchange system to the cardholder’s
bank, returning transaction results to RTWare.net. |
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