An e-commerce merchant’s payment gateway is a crucial component to accepting credit card payments online. When you set up an online store, a customer’s payment has to pass through your checkout page, through the digital payment gateway for processing, and finally into your merchant account. It is something that all online merchants need in order to process orders through their website.
However, the very concept of a payment gateway can become confusing to some. Instabill links e-commerce merchants to the best acquiring banking option, which in turn, provides the payment gateway. We’ve prepared this list of frequently asked questions we receive about gateways and provided answers to help merchants understand.
The internet payment gateway automates the transactions between the customer and the merchant. The payment gateway performs various tasks for the transaction process. Some of them are given below:
It seems like a lengthy process — but actually takes only a few seconds.
For a merchant, doing business online has now become an easy process. Internet payment gateway allows the business owner to process all kinds of credit cards online.
Internet Payment Gateways make real time online credit card processing possible. Transaction data is sent to the gateway via shopping carts and a secure server. When a credit card transaction is made, the payment gateway checks for validity, encrypts the transaction details, ensures its departure to correct destination and decrypts the responses that are sent back. It is very useful for e-commerce businesses.
Payment gateways provide users with a virtual terminal. It allows hosting terminals for multi-user networking. A virtual terminal also provides an online reporting facility for all the transactions and orders made. Through secure servers, the merchants can log in to a website and manually process credit cards, perform authorizations, etc…
The virtual terminal acts as an intermediary between the merchants and their merchant accounts. It is a web interface, which allows the merchants to enter the customer’s details manually into a browser and submit them for fast authorization and processing.
Virtual Terminal allows:
Payment Gateways are usually a third party service that automates the transactions between the customer and the merchant. A payment gateway is a system that processes, verifies and accepts the credit card transactions on behalf of the merchant. Business owners are able to accept all kinds of electronic payment through these secure internet connections.
Payment Gateways make real-time online credit card processing possible. When a credit card transaction is made, it checks for validity, encrypts the transaction details, ensures its departure to correct destination and decrypts the responses that are sent back.
A Payment Gateway also helps you to accept:
The customers do not need to be directly in contact with the gateway, as the data is sent to the gateway via shopping carts and secure server. The shopping cart uses plug-ins to send information to certain gateways in an acceptable format.