George Featherstone
posted this on February 21, 2011 12:57 pm
You can use iClassPro to process credit card or eCheck (ACH) transactions. Accepting payments from your website is also possible using the iClassPro customer portal. You must have a payment gateway account and a merchant account to process credit card payments with iClassPro.
The payment gateway account is what iClassPro uses to approve transactions in real time. It allows you to authorize, settle, and manage credit card and electronic check payments. It is the link between iClassPro and your merchant account. The payment gateway account does not store or hold your money; it simply approves or declines the transactions.
Once you have submitted the transaction through your payment gateway using iClassPro, it is passed to your merchant account. Normally, your payment gateway will batch all the transactions at the end of the business day to your merchant account for processing. Then, the merchant account will process the credit card or ACH transaction and deposit the funds into your bank account.
For full details please download the Electronic Payments Guide.