PayCly Blog

International Credit Card Processing For Accepting Secure and Flexible Payments Globally

International Credit Card Processing is getting hugely recognized in the recent years because of the increasing globalision. Given that Singapore has an average of four credit cards users, it is scarcely surprising that 1.06 billion credit cards were used in North America in 2019.

No matter what kind of ecommerce business you run, if you're wondering how to accept payments online, your first port of call should be the modest pair of credit and debit cards.

However, you will want a merchant account before you can begin accepting credit cards online.

A merchant account, also referred to as International credit card processing, is a form of bank account that enables your business to accept online payments.

The procedures for processing credit cards

The three processes of credit card processing are funding, settlement, and authorization.

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The authorization stage is the first step:

  • The cardholder displays their card while paying for your products or services in person, online, or over the phone.
  • Your chosen payment processor receives a request for payment authorization from your payment gateway.
  • The transaction is submitted by the payment processor to the designated card network, which then sends it on to the issuing bank.
  • The issuing bank authorises or rejects the transaction and then communicates the outcome to the card network, your bank, and finally to you.
  • During the negotiation stage:

    • Batches of authorised transactions are sent to your payment processor by your international payment gateway.
    • The related card networks then communicate the debits with the appropriate issuing banks after receiving the authorised transaction data from the payment processor.

    Finally, during the finance stage:

    • Prior to the funds being sent to your company bank account, the issuing bank charges the cardholder's account for the transaction amount (minus interchange fees).

    The main participants in debit and credit transactions

    The following parties are engaged in credit and debit transactions:


    A client who acquires a credit (or debit) card from a bank that issues them. And then uses the card's linked bank account to make purchases.


    Businesses that take credit cards as payment for the products or services you offer clients.

    Payment Gateway-

    The electronic counterpart of a physical point-of-sale system that processes transactions online. It provides e-commerce platforms with integrations and APIs, encrypts and transfers data to payment processors, and gets bank approval to transfer client payments to high-risk business merchants.

    Payment processor-

    A service that connects the merchant, the issuing bank, and the acquiring bank with the essential transaction data. To process credit card transactions, you require both a payment processor and a payment gateway. While processors transfer the necessary data from one place to another, the payment gateway manages the transaction's start and finish.

    Acquiring Bank:

    The financial institution that manages your merchant credit card processing account.

    Issuing Bank:

    Any bank that manages the customer's credit card is the issuing bank.

    Card networks or schemes:

    Paid services that establish the policies and technical foundation for processing payments made with credit and debit cards. They establish interchange rates, qualification standards, and act as a liaison between acquiring and issuing banks. Some of the biggest card networks in the world are UnionPay, Visa, Mastercard, American Express, and Discover.

    Advantages of taking Credit Card Processing

    You could survive without accepting payments online even if your company advertises and offers services online. You could stick to the norm and mail a bill and wait for a check to arrive.

    But given all the advantages and conveniences they provide to your company, accepting online payments is undoubtedly something you'll want to do.

    • Make your financial reporting simpler
    • Increase the speed of your transactions
    • Give your clients more convenience and payment options.
    • Make sure that payments are received promptly.

    Whatever you sell, accepting payments online will assist your company since they:

    Your audience base- More individuals will find it convenient to do business with you if you accept a variety of payment methods. Customers are more likely to have a pleasant experience with you and return to do business with you if your payment procedure is smooth.

    Make it simple to set up subscriptions and memberships- Automatic recurring payments are made possible by payment service providers like Stripe and PayPal. You no longer have to worry with billing clients and getting money each billing cycle. Additionally, it increases retention because customers aren't required to review their monthly bill and determine whether to renew their subscription.

    Be paid more quickly- It can take days or weeks for a consumer to receive an invoice and mail you a check. Online payments can take place immediately or, at most, over the course of two or three days.

    Why choose PayCly for getting best credit card processing?

    PayCly is the largest payment service provider it handles more of International transactions. International merchants make up their clientele. PayCly offer e-Commerce experience in sectors like online gambling, retail, and travel, and it works with both small and large organizations. We are offering unique International Credit Card Processing solutions that will help you locate your business internationally.