Credit card processing is the service in which you can use credit cards for making your financial transactions. When a credit card is swiped, the amount is withdrawn from the account of the bank which issues the credit card and is transferred to the seller's account. You have to then make the payments to the credit card issuer bank that paid for your transaction. This entire process is known as credit card processing. Big names in the credit card world include MasterCard and VISA. Credit card processing is very important in the financial world of today where most people buy things on credit and pay it back later.