Mobile Payment Processing

Mobile Payment Processing: Big Savings from Small Devices

Mobile phone payment processing makes use of technological advances that enable companies to accept payments via mobile devices. Mobile payment processing companies are merchant-appointed businesses that handle mobile credit and debit card payment processing services for these companies so they can concentrate on what they do best, and save time by eliminating the hassle of paper checks. End users enjoy the convenience of being able to make payments from anywhere at anytime.

YapStone: An Industry Leading Mobile Payment Processor

YapStone’s mobile payment processing solutions include powerful features such as detailed reporting that helps businesses reconcile and gain insights from analytics, and the ability to handle industry-specific data. With years of experience in the field, YapStone is among the best mobile credit card processing services that empowers you to accept credit and debit cards from smartphones. We are fully PCI Level One certified, and offer a solution that is focused on both reliability and security.

How Does Mobile Payment Processing Work?

There are a number of steps involved with processing a mobile credit or debit card transaction:

Step 1: User Initiates Online Payment Via Mobile Phone 

The user logs in to one of YapStone’s payment solutions on a mobile device with the intention of paying rent, HOA dues, vacation home rental charges, inn charges or a church donation. After selecting credit card or debit card as the method of payment the user provides information such as name, credit or debit card information, and billing address, and then submits payment.

Step 2: YapStone to Payment Processor

YapStone sends the transaction details to its payment processor using a dedicated link that’s monitored 24 x 7 to ensure phone payment processing without interruption.

Step 3: Payment Processor to Card Networks to Card Issuing Bank

The payment processor validates the payment details by sending them through the credit / debit card networks (Visa, MasterCard, American Express, Discover) that then send them to the card issuing bank to be authorized.

Step 4: Card Issuing Bank

The user’s card-issuing bank approves/denies the transaction based on the card status and whether the transaction is within the cardholder’s credit limit.

Step 5: Payment Processor to Credit Card Networks to YapStone

Assuming payment is approved, the user is charged by the card issuer who sends the funds to the card networks minus fees to cover costs such as credit risk and rewards. The card networks send the transaction-approved status back to the payment processor, which in turn informs YapStone who passes on the funds, less the applicable fees.

Step 6: YapStone to User

YapStone’s informs the user if the transaction is approved or denied via the mobile device interface. If paymentis denied, YapStone’s payment gateway informs the mobile site or app and because the card issuer did not authorize the transaction, no further action is taken.

Step 7: YapStone to Merchant

Lastly, YapStone transfers funds to the merchant’s bank account. Funds are normally received in 1-2 business days. Usually a receipt is emailed to the user, payment notifications are sent to the merchant, and detailed YapStone merchant reports update in real-time. These include the Transaction Activity Report, Batch Reconciliation Report and Transaction Summary Report.

*Not all mobile payment processing follows this flow. This is just one possible scenario from several options offered by YapStone.


YapStone: Top Mobile Credit Card and Debit Card Processing

YapStone’s smartphone payment processing solutions encompass an advanced set of features that make it simple to accept payments including credit and debit cards via a mobile device. We like to think of ourselves as the best mobile credit card processing service out there,and the loyalty of our customers bears this out.

We work with a veritable who’s who of top companies, big and small, that are looking for top mobile credit card payment processing and other mobile payment services. These businesses value our profound knowledge of the industries in which we work, our sophisticated payment and risk management platform, and the cache we’ve accrued from processing 8-billion dollars in electronic payments a year.

Contact us today for your mobile payment processing needs