Payment Method
Accepted payment method
At pennybuying.com we accept all major credit cards and payments made through PayPal.
Payment must be made in full before shipment.
If you wish to pay with your credit card, please use the "Proceed to Checkout" option on the shopping cart page. You may pay using your Visa, MasterCard or American Express.
Our payment system has 2048 bit encryption and secure servers which enables you to make your payment with complete confidence.
Your credit card information is not processed through or stored on pennybuying.com servers, and no information is ever released to a third party.
pennybuying.com reserves the right to make changes in our policies at any given time. Notification of such changes will be posted on this page. If you have any questions or comments about any of our policies, please contact us
How Payment gets processed
When you pay for the online order using a credit card, the payment has to be processed before the funds are added to the merchant. Credit card processing is done for you by your payment provider. This process has the following stages:
Authorization
Capture
Clearing
Funding
Authorization
You use your credit card to pay for the order on this store. The payment provider checks with the issuer to make sure the credit card is valid. If the card is valid and has enough funds, then the issuer authorizes the payment. No funds are transferred at this stage.
Capture
After the payment is authorized, the payment has to be captured. When a payment is captured, details about the payment are sent to the acquirer, which is usually to be the bank.
Clearing
The acquirer reviews the payment details, and then requests the necessary funds from the company that processes the customer's credit card.
The credit card company sends the transaction information to the issuer. The issuer subtracts a small fee from the total transaction amount, and then sends the remaining amount back to the credit card company. The card company subtracts their fee, and then sends the remaining amount to the acquirer.
Funding
The acquirer subtracts a small fee from the amount, and then transfers the final amount to your merchant account.