An often ignored and under analyze part of building your eCommerce business is the backend processing of your orders. Entrepreneurs spend lots of cash and time into making sure their website design is just perfect , but frequently gloss right over their order processing systems. Spending a limited time in making design pinch into choosing the perfect merchant processor , payment gateway provider and you will save a lot of bucks!
Payment gateway is the system used to transmit your clients payment details from your safe website to your secure mercantile processor. Think of it as the terminal that collects, encrypts, and safely convey the data to your merchant account. There are many varied services to choose from when selecting your Online Payment Services Provider, although, it is necessary to know that the gateway you prefer must be perfect -matched with your eCommerce business. be sure to get a list of the diverse gateways your eCommerce solution accepts, and contact each one to know of their charges and service providing.
The payment gateway convey the encrypted information to your business processor who is then responsible for routing this details to the credit card. The credit card system confirm that your clients credit card is valid has sufficient funds to cover the transaction, then notify the payment gateway, which then commune with your eCommerce solution. If the transaction is accepted, then the mercantile processor will convey your settled orders to your bank account.
The mercantile processor is the out of sight system that communicate with the payment gateway, your clients credit card network, and your bank account. This is a streamlined way to accept credit cards online. It’s significant to know whether your payment gateway, merchant processor, and eCommerce solution all work collectively. Please confirm your merchant processor interface with your payment gateway and your bank account!
What to Know
Payment Gateway’s – when choose a payment gateway verify and review the following:
- Gateway Setup Fee – many payment gateways will need an initial payment to setup your gateway.
- Per Transaction Fee – every transaction made gets charged a fee. This also includes; refunds, voids, and declines.
- Monthly Gateway Fee – this is an ongoing fee for the license of using the payment gateway
- API Integration – make sure your websites shopping cart can integrate with the gateway of choice.
Merchant Processors – when selecting a merchant processor verify and review the following:
- Setup Fee – same as above
- Monthly Fee – same as above
- Per Transaction Fee – same as above
- Contract – same as above
Payvement is the one stop solution for Payment Gateway, Merchant Account, Credit Card Processing and Online Payment Processing Services. We are the biggest Online Payment Services Provider in UK.