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Credit Card Processing

A Faster & Easier Way To Transact Payments at a Low Cost.

 Credit Card Processing


Credit Card Processing


Available 24/7
365 Days


Cloud - Based
POS Systems


Transaction Fees


Same - Day

Talk to one of our experts and start saving on every transaction today!

What Is Credit Card Processing?


What Is Credit Card Processing?

Credit card processing is the process and transmission of credit card data from a point-of-sale system through vast credit card networks and banks, resulting in the transfer of funds into your business account.  Transactions can take place almost anywhere—in person, online, over the phone, or by mail. With that being said, several organizations are involved in credit card processing, such as consumers, the business (merchant), payment gateway, the credit card processor, card networks, the issuing bank, and the acquiring bank. The four largest credit card networks are Visa, MasterCard, American Express, and Discover. Credit card processing companies, which fall into the categories of merchant account providers and payment processing providers, handle the logistics of accepting card payments.

Merchant Services
Why Choose Steer Financial?


Helping Small Businesses Grow Across The U.S.

At Steer Financial, we understand that no two businesses are alike.   We offer financing solutions as unique as the business owners we help.  Together, we can help steer your business to its full potential.  Step one is determining which type of merchant service is ideal for your business.  We work hard to deliver honest, reliable, and transparent customer service so you can feel confidence choosing us to help you meet your business needs.


Serving All 50 States

We proudly serve all types of businesses across all 50 states.  We do it all; brick and mortar or on-the-go businesses.  Our goal is to offer unique and  tailored solutions to businesses regardless of their size or industry.

Secure + Safe Data

We utilize advanced security measures and the latest encrypted credit card processing point-of-sale terminals to protect your clients' credit card information and provide you with peace of mind as you run your business.  


10+ Years of Experience

Our expertise has enabled us to understand small businesses and offer the highest level of service.  We strive to recommend the best credit card processing solutions, so you can run your business smoother. 

Talk to one of our specialists to get started on credit card processing for your business.

How Does Credit Card Processing Work?


How Does Credit Card Processing Work?

Step 01

Credit card processing starts with the consumer. The consumer (customer) submits a payment request using their credit or debit card, and the small business (merchant) is provided with the relevant payment information.

Step 02

The information regarding the payment can be accepted and collected by the merchant in one of two ways:

  • In person, which is referred to as a "card-present" transaction.

  • Online or over the phone, which is referred to as a "card-not-present" transaction.

Step 03

After then, the information regarding the payment is transmitted to the credit card processor, who then transmits it to the card network.

Step 04

The information on the payment is sent to the consumer's bank, which is known as the issuing bank.

Step 05

It is the duty of the consumer bank to check whether or not the cardholder possesses an adequate amount of available dollars or credit to finish the transaction. Additionally, the bank could conduct some security procedures to check if the purchase is authentic. The next step is for it to decide whether or not to accept the transaction, after which it will convey its verdict to the credit card processor. The three most typical explanations for why a transaction is refused are as follows:

  • There are insufficient monies in the account.

  • The credit limit has been reached by the consumer.

  • The purchase was made without permission (e.g. if the card used has been reported lost or stolen).

Step 06

If the transaction is able to pass the verification processes of the consumer bank, then the monies are transferred from the merchant account of the consumer bank to the account of the merchant, and then the settlement process begins.

Step 07

In the meantime, the notice is sent from the consumer bank to the point of origin of the sale. This, in turn, often results in a message being shown on the card reader or the virtual terminal that informs the merchant whether or not the transaction has been "authorized" or "declined."

Step 08

Settlement is the final stage in the process, and depending on the card network that was involved in the transaction, it can take anywhere from a few hours to several days to complete. The term "settlement" refers to the formal transfer of the transaction amount, less any relevant processing costs, from the consumer bank to the merchant bank. Mantra Payment credit card processing can offer same day or next-day settlements upon request.

With Steer Financial As Your Financial Partner,
Anything Is Possible.

How To Apply for Credit Card Procesing
Small Business Loans - Steer Financial

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Start saving your business money today!

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