Financial processing involves credit card transactions, online check transactions, or any other process that involves a movement of money.

Many companies in our BPO category offer check processing and financial processing. Financial processing could be anything from configuring e-Commerce portals, to actually taking credit card transactions over the phone. Credit card processingis actually complicated. There needs to be an actual company that you have an account with to accept credit cards. Another account with American Express and/or Discover if you are in the United States. The next thing you need is a portal. Then, there is labor involved in processing credit card orders as well. Financial processing is generally handled by large banking institutions, but smaller companies also do this. It is possible that in India you might get a better rate, and better customer service for financial processing.

One issue companies might have with credit card processing is that the bank or company offering processing might have a daily maximum or monthly maximum. It is important to know what will happen if you accidentally exceed your maximum. With online portals, the customer can do a transaction on their own without even talking to one of your staff members. In such a case, you will never know what your monthly maximum transaction amount will be. I personally had an experience with a company who stopped doing business with me and held my funds for several months simply because I accidentally exceeded our monthly maximum amount. I can't believe I was penalized for being successful. The only think they said to me is that, "You violated our contract, we are holding your funds and stopping transactions". I had to use checks and paypal, and then created a new account with Wells Fargo who was completely professional in how they handled my account.