Send us a request and we will contact you as soon as possible.
The payment gateway enables the payment ecosystem to function smoothly, as it helps companies and individuals to process payments on the Internet. If you have an online store, you don’t need to be a payment gateway pro, but it’s important to understand the basics of how an online payment flows from your customer to your bank account.
Let’s take a look at what a payment gateway is, how it works, what an online merchant is for, and how to determine which payment gateway service is right for your company.
Before getting to the concept of a payment gateway, you need to identify the main players in online payments. When a customer clicks the “Pay” function on your site, the main players take part in the payment.
A payment prossesor is a technology that collects and transfers payment data from the client to the acquirer, and then confirms the acceptance or cancellation of the payment back to the client. The payment gateway carefully checks the details of the client’s card, guarantees the availability of finance and, as a result, enables merchants to receive payment. It acts as an interface between the merchant’s website and its acquirer. It encrypts sensitive credit card information, allowing secure data transmission from the customer to the acquiring bank through the merchant.
In general, the payment gateway is an intermediary between the buyer and the seller, ensuring that payment is made safely and quickly. An online payment gateway can make it easier for sellers to introduce the required software. As an intermediary in payment processing, the gateway regulates the security of confidential customer card data between the acquirer and the merchant.
One may wonder why a payment gateway is needed if it is an intermediary? An online payment is processed as a payment without presenting a card. The customer’s card cannot be physically passed through the POS terminal, as is the case in ordinary stores. Therefore, you can rely solely on the card data that the client writes on the payment page. However, how to be sure that the card used by the client belongs to him/her? In operations without presenting a card, the risk of fraud is the highest, and it is in these situations that the payment gateway helps a lot.
What happens if the payment gateway is removed from the flow of Internet transactions? Fraudsters will easily gain access to the data of the cards used to make payments, which will make any business vulnerable to fraud and reverse transactions. In addition, scammers will look for additional options for making illegal payments, which can damage the reputation of your company.
The payment gateway keeps your client’s privacy. The payment prossesor directs information from you, the merchant, the acquirer and the issuing bank using data encryption to prevent unwanted threats from personal card data. In addition to controlling fraud, the payment gateway also protects merchants from expired cards, not getting enough money, closed accounts, or exceeding credit limits.
The client determines for himself/herself the product or service that he/she needs and goes to the payment page. Most payment gateways offer you different options for your transaction page. Such mechanisms offer you the following options for customizing your payment page, customized according to your business requirements.
A ready payment page where customers will be directed when making a payment. The payment prossesor securely receives the payment information before sending it to the acquirer. A hosted payment page minimizes the PCI load for online retailers as long as you don’t collect and store cardholder information on your own server.
Server-to-server connection is also called direct integration, as the process connects 2 servers – the merchant with the payment gateway. By requesting card details on the payment-processing page, you can provoke a direct transaction. Customers can make a payment by card without being redirected to the payment gateway page, which will give a faster payment, a more user-friendly interface and more control over the design of the payment page from the merchant’s point of view. Server-to-server integration is fine if you need saved customer billing information before sending it to a payment gateway for further processing.
Client-side encryption, also referred to as encryption at source, is confidential encryption on the client-side device before it is sent to the merchant’s server. This enables the merchant to facilitate PCI compliance requirements. In general, it enables you to accept transactions on its website while at the same time encrypting the card data in the browser using the payment gateway encryption library.
Based on the message, the seller can either confirm the payment or ask the buyer to try a different payment option.
Both sellers and buyers benefit from using a payment gateway, although most of its operation occurs in the background of the transaction. All the steps mentioned above take very little time.
If you are interested in any commercial field, you can also see different offers of businesses for sale in various jurisdictions. In particular, you can pay attention to the following categories:
Our specialists will help you to choose the best option among the proposed companies. Feel free to contact us anytime.
Buying property in Cyprus is a sophisticated decision requiring a clear and comprehensive understanding of all the aspects of living on this island. It includes costs, culture, traditions, laws, tax regulations, expenses, and so on. But first of all you have to know that the state is split into Northern and Southern parts, each of…
This region is a prime attraction for overseas estate consumers due to its picturesque views, rich heritage, and friendly atmosphere. In contrast, purchasing for householding abroad can be challenging, regarding local lawful demands. This short article is designed to assist the quest for overseas purchasers by providing transparent and pivotal information about property for sale…
Cyprus, the Mediterranean’s third-largest isle, has been a famous attraction for expatriates and retirees looking for sun, sea, and a slower pace of life. Known for its a place with a deep historical heritage, breathtaking scenery and welcoming residents, this isle suggests an appealing mix of cultural experiences and modern amenities. However, like any place,…
Indonesia’s affordability and growth prospective make it a compelling option for international immovable property stakeholders. However, for those new to the region, purchasing real estate in Indonesia could be complicated. Investors may face unforeseen obstacles and challenges, making vigilance crucial. Our community of property buyers and local partners have shared various concerns, which we’ve compiled…
Cyprus is pretty costly for livelihood. Nevertheless, the costs are more reasonable in contrast to the UK, USA, West and North Europe. But don’t forget that it mostly depends on the city. For instance, it is more lucrative to reside in Cyprus if your wish is a big city. If you are curious about the…
Buying property is always a responsible decision, that requires full comprehension of the law and regulations of the country you want to buy a housing in. This also applies to one of the most desirable places for investment – Cyprus. The island is famous for its clean remarkable sea and hot sunny days almost all…
Chattel real levies are imposed by officials in many states around the globe either yearly or semi-annually, with the level of charges depending on the overall price of an investor’s asset. In contrast, in the world there exist some countries with no property tax.Here, we provide a comprehensive catalogue of places with no property tax…
Investing in chattel real abroad has gained immense popularity as a means to preserve and grow wealth. In this article about, six routes that have captured the curiosity of stakeholders in question considering questions in property for sale from non-EU nations. We delve into why these routes are currently the utmost appealing, providing valuable insights…
Acquiring estate is a complex endeavor. While saving up the necessary funds is challenging in itself, it’s only the beginning. Verifying papers, drafting contracts, navigating the purchase agreement, and registering the housing – each step presents feasible pitfalls that could leave you both financially and literally homeless. Therefore, selecting the right seller is paramount to…
Bali attracts everyone from digital nomads and entrepreneurs to retirees and the ultra-wealthy. The island’s enduring popularity among tourists combines with a vibrant local market, presents lucrative chances. Nevertheless, discrete analysis is crucial. This article highlights pros and cons of investing in property in Bali and other details you may be interested in. Why Bali’s…
Bali, the jewel of Indonesia, is no longer just a traveler’s paradise – it’s an investor’s dream realized. The island’s allure extends far beyond its captivating beauty, fueled by a potent combination of surging tourism and unwavering economic strength. This tropical haven boasts an enviable economic track record. Indonesia’s GDP has witnessed a remarkable upswing,…
Dreaming of life under the Turkish sun? A Turkish Residency Permit is your ticket to a carefree holiday. Residency allowance not only legalizes your stay for a year or more but also opens doors for work, depending on the type of document obtained. Learn who can get the coveted status, under what terms, and what…