Payment Gateway

If you have an online business, then for selling the products or services on Internet, shopping carts and the modes to accept the payments from the shopping carts are needed and with shopping cart payment gateways are inseparable. A payment gateway is a service, which enables computer, based credit card processing merchants to securely transmit their payment information to a processing bank over the Internet. It is a part of every merchant account and is integrated with the website's shopping cart. To say, it is a third-party solution but there are companies, which offer the services directly to their merchants.

Therefore, merchant credit cards accounts are simply one of the best steps taken for a business owner. Customers are known to spend more, when they shop with easy and convenience of different credit cards with the security network. This also leads to a gain in impulse buying.

It is necessary to understand that a "card swipe" transaction acceptance method is not supported by a payment gateway. It is a virtual service and accepts the key-entered transactions, either by a virtual terminal, or by the merchant itself. All features found in a physical terminal, including authorization, refunds, capture and voids are supported by a payment gateway.

An online payment gateway makes a link of transactional portal or website and a bank. When the cardholder enter his/hers required details after purchasing from the website, the gateway process starts. At the cardholder's web browser side the information is then encrypted and is sent to the merchant’s website securely. From this stage the encrypted information is resent from the merchant server to the gateway by a Secured Socket Layer encryption, which connects the system used by the merchant's acquiring bank. The system then forwards the information regarding transaction to the credit card interchange, which then routes it to the issuing bank.

The reverse process also happens within just seconds and along with the issuing bank's response some other details, such as: the transaction status, a notification code. In other words, this information flows from the credit card interchange, the acquirer processor, the payment gateway, the merchant's website and finally to the cardholder.

The rest of the transaction happens in a different time frame, and shows the delivery of the product and the money transfers from the acquiring bank to the merchant's account.

Merchants can take advantages of online payment gateways, one can see: make refunds, authorized transactions and capture payments by evaluating the real time reports and tools applied for these purposes. In some cases, online payment gateways allow merchants to work easily with different card types and currencies.

As gateway site system is browser-based, so you can monitor it from any place. No installation is needed and it provides with 24 hours service to its customers with live support. It keeps a full record of your transactions. It has an electronic check system and multiple users can accommodate within your business.

Ideal for merchants with high capacity transaction volumes, Power Pay Services provides a fast and secured, Internet payment gateway, platform-independent. Integrating to a secure gateway helps merchants to offer a variety of multi-currency transfer options on their web sites including Visa, MasterCard, American Express and PayPal.

Setup a credit card processing merchant accounts to accept credit cards today!