Online payments are made thousands of times all over the world. There are hundreds of various ways these payments are made. This includes EFT and paypal transactions. A huge proportion is based on payment gateway technology. Payment gateways allows a connection directly between a bank and a website. This means that payments can be placed right on a website and deposited directly into a bank account. Payment gateways are servers that are dedicated to linking banks and websites. This is done so that online credit transactions can be completed in real-time.
These gateways work by supplying the secure, integral link between the bank and a website. The payment gateways receives credit card details that are submitted on a website. It sends them to the bank for verification. The bank replies with a response. It is generally accepted or declined. The gateway sends this response back to the web server. This is done when the popper message is displayed to the user.
A Payment gateway is require if you are looking to accept real-time accepting credit cards on your website. There are three primary requirements for a gateway to work:
* A websites needs to meet the eligibility and security requirements for the bank to be able to issue a merchant account.
* A merchant account from a bank is required. This is a special type of bank account that can be linked directly to a payment gateway. These bank accounts are issued upon review of a website. This ensures that it meets security and privacy requirements. These requirements often include a privacy policy and an SSL certificate.
* A payment gateway provider is also required. Payment gateway providers offer a server that acts as a link. It acts as a link between your website and the bank. The server has special configuration. It has a very high level of security because of the sensitive nature of the information being transferred.
The payment gateway needs to be connected to the website as well as the merchant account once all three requirements are met. This will allow real-time credit card processing.
When you incorporate a payment gateway into your e-commerce website, you can ensure that you are providing the easiest and most streamlined purchasing experience for your clients. The earlier it is to purchase from your online store, the more likely you are going to have visitors to buy from your online store. A payment gateway is beneficial for a few reasons. One of the reasons is that visitors stay on site. Plenty of websites will take advantage of third-party or hosted payment processing facilities. Paypal is one of those facilities. These facilities work well. They can provide secure payment options. Sometimes they do have drawbacks. A major benefit of using payment gateways is that customers will not leave your website to make payment. All user information and credit card details are put on your website. There are fewer steps for the buyer.
Author Bio:
The author of this company has extensive knowledge about card payment gateways solutions and various other kinds of merchant credit card solutions. The author has researched a lot before penning down his views on the above topic.
Category:
Finance