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Ideally, an online transaction is a real-time transaction that is carried out online. This is very different from batch processing where transactions are “kept aside” so to speak and wait processing later. As you can see, this can result in problems, among which would be authorizing a transaction even when the funds are insufficient or not available. Online credit card payments thus offer a more superior way of conducting business since it offers a less error-prone system in addition to no wasted time and expense in the process.

Unfortunately service providers and third-party processing come at a fee and in some cases, it can bite off your pocket if you plan to employ some of them. On the other hand, if you are planning to conduct business purely online, you may have little choice but to pay up. About 90% of the entire market today relies on service providers for online credit card payments processing. They have the necessary application servers running the processing engines. They will usually charge a monthly service charge in addition to a per transaction fee. This transaction excludes the per merchant account per transaction fee as well.