In these times of quick paced business solutions, the idea of E-Commerce is quickly getting momentum. The terminology basically means performing and accepting payments over the internet. Although you may not have a web-based store, you may raise your business profits by taking credit card payments. The reason being you might have clients who prefer paying by their credit cards for the transactions. To receive payments through credit cards, you should have a merchant account with any loan provider along with the merchant services of an online gateway provider. Processed payments can then be transferred to your merchant card account.
To get connected to the gateway account, your business website will require a few technical modifications to receive credit payments. The web designer will add a purchase order to a shopping cart, in which a client may include personal information along with credit card details.
The gateway organization, as a part of the merchant services can verify the credit card details by sending information to a credit card issuer. Following the acceptance the gateway can receive an approval or decline message based on the credibility of the details. The message is shown on the screen. Right after receiving the approval message, the payment is transferred to the merchant card account.
These payment gateways offer unique payment solutions to online retailers, retail and mobile merchants and telephone order vendors. Web retailers can connect with the gateways via server-to-server link for sending transaction information to the payment gateway. With the latest Simple Integration Method (SIM) the gateway keeps track of data collection and procession, the whole transaction process, and responding to the merchant. Alternatively, the retail merchants can buy licensed, ready-to-install POS (Point of Sale) device or a solution which is incorporated into the gateway organization.
Add to favorites