Question by kumaran: What is Internet Payment Gateway?
An internet payment gateway is the most important part of any online business. What an internet payment gateway enables is a way for your site to process credit and debit card payments. One is a gateway which processes the credit card numbers and the second method is an internet payment gateway which collects the numbers and necessary information with you needing to run the numbers yourself on an offline credit card machine. Many companies, banks and websites offer this service online.
Best answer:
Answer by Sky Lin
An online Internet payment gateway allows you to process credit card orders from your website in real time. This way, the customer knows immediately whether or not their credit card was approved.
A shopping cart is usually used before the payment gateway. This function allows your customers to pick and choose the various items they want to purchase from your website, including options such as size, color, etc. At checkout the shopping cart totals the items, adds tax and shipping and collects the customers shipping and billing information.
The payment gateway captures the credit card transaction, encrypts the transaction information, routes it to the credit card processor and then returns either an approval or a decline notice.
This is a seamless process and your customer does not directly interact with the payment gateway as data is forwarded to the gateway via your shopping cart and a secure connection.
There are three vital things that an online payment gateway does when a customer attempts to make a purchase from your website using a credit card or a debit check card. These include authorization, settling, and reporting.
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Question by Jessie: what is fashion pay payment gateway?
I want to buy some shoes online and under payment method it said FASHIONPAY payment gateway
Best answer:
Answer by Mohammad
1. FASHIONPAY payment gateway is a system to confirm availability of funds in the credit/debit card of the purchaser.
2. The website of Fashionpay gives the following information about the Payment Gateway:
“Payment Procedure
“Online Shopping Payment Procedure
1. Online shopper visits the merchant’s website and attempts to pay for service product.
2. Merchant’s website sends transaction enquiry to the payment system.
3. Online shopper’s bank debit card makes payment to the bank.
4. Fashionpay checks the merchant information and finds no transaction request errors.
5. Payment request is produced and sent to fashionpay gateway which checks the transaction information between the payment system and merchant’s website.
6. If there are no errors, the payment order is produced and sent to the bank’s payment platform.
7. Fashionpay returns the result from the bank’s payment gateway to fashionpay server.
8. Fashionpay server notifies both the merchant’s website and the customer that the transaction is completed.”
http://www.fashionpay.com/sht/en/pay.html.
.
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Ingenico Group's Fully Managed IPhone-based Payment Solution Selected By …
In addition, Ingenico Group will also manage all the European transactions through its central gateway. This fully PCI DSS compliant solution will help Loewe control costs, providing end-to-end security in compliance with international payment …
Read more on RTT News
Apriva Partners with GoCoin to Offer Bitcoin and Altcoin Payments
International payments platform GoCoin has announced a technology partnership with point-of-sales (POS) service provider Apriva. Apriva's Gateway connects payment devices, merchant acquirers and payment processors to deploy and manage wireless …
Read more on CoinDesk
Question by brianluke1: Webmasters Payment Gateway Providers?
Can you refer me to a cash processing gateway? Yes, I have merchant accounts with Amex and MC and Visa I need a way for customers to place their orders.
Best answer:
Answer by Ron
6 Payment Gateways Reviewed: http://www.sitepoint.com/article/money-where-mouse-is-gateways/
Ecommerce Payment Gateway Primer: http://www.websitepublisher.net/article/payment-gateway/
What You Should Ask A Payment Gateway Provider: http://michellenewman.wordpress.com/2007/07/19/what-you-should-ask-a-payment-gateway-provider/
Ron
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Coversure chooses Callstream for PCI compliance
The details are then forwarded directly and securely to the Coversure credit card payment gateway. Because data is passed securely to the payment gateway and not stored, Vault achieves PCI Level 1 compliance, whilst at the same time satisfying FCA …
Read more on Finextra
Apriva to Preview AprivaPay Plus v3.0 at TRANSACT 14
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Apriva, the leading provider of end-to-end wireless transactions, gateway services, and secure information solutions, announced that it will preview its next-generation AprivaPay™ Plus mobile payment acceptance …
Read more on Business Wire (press release)
All you want to know about gross merchandise value
However, in the case of an e-commerce company with a "market-place" model, profit is equal to revenue minus costs like volume discounts, marketing, payment gateway costs and other expenses. Experts are of the view that given the focus of most …
Read more on Economic Times
Discover Looks To Tap The Asian Market
Earlier this month, the company entered an agreement with Bangkok Bank in Thailand, and is also associated with the RuPay payment gateway system that was launched in May 2014 in India. Discover is the third largest credit card company in the U.S. after …
Read more on Trefis
MICROS and Elavon Deliver Secure Payment Technology
Powered by the MICROS Payment Gateway™ and Elavon's Fusebox™ gateway solution, this next generation payment environment is built upon decades of proven PMS and payment processing expertise. Robust scalability offers a great fit for businesses of …
Read more on Newswire Today (press release)
Why a Currency Based on an Internet Joke Should Be Taken Seriously
EGifter is working with GoCoin, a cryptocurrency payment gateway, to allow consumers to pay with the two altcoins. GoCoin allows clients to immediately exchange digital currencies into U.S. dollars to avoid price volatility risk. GoCoin charges 1% per …
Read more on American Banker (subscription)
Canadian websites hit by Heartbleed vulnerability
Heartbleed is a vulnerability in the OpenSSL encryption code that is used by two-thirds of all websites. A popular method of encryption because it is open source and freely available, OpenSSL ensures your private information is securely transferred to …
Read more on ITBusiness.ca
Question by Paul: What is a good payment gateway slash merchant account solution?
I am looking for a payment solution for my e-commerce shop. I am interested in a gateway / merchant account combo.
I have heard of Total Merchant Services.
I really need some recommendation.
Thanks!
Best answer:
Answer by mss
Payment gateway is a part of an eCommerce merchant account. A merchant account is the service that enables you to accept card payments. Payment gateway is an online service that merchant account providers use for transferring payment details between the merchant website and the bank processing center. The payment gateway will be integrated directly with your shopping cart. The integration process varies by providers and will be handled by their technical staff. Generally the following documents will be required during a merchant account application process:
1. A merchant application – you will have to complete and sign this form. It includes general information about you and your business.
2. A copy of your organization’s Articles of Incorporation, unless you are a sole proprietor.
3. A copy of a voided check for the account that you will want your money to be deposited into.
4. Business or personal financials. Your tax returns for the last two years may be requested if your business is new.
There are many things you need to know when selecting a payment processing provider. The most important issue is processing costs – you certainly don’t want to be overcharged. The costs are comprised of various fees and charges and I have given you a breakdown below.
1. Discount rate – the amount a merchant is charged by his acquirer for processing the merchant’s transactions. It consists of a percentage fee (e.g. 2.19%) and a fixed, per transaction, fee (e.g. $ 0.25). You should not agree to anything higher than 2.19% + $ 0.25.
2. Authorization fee – another “per-transaction” fee. You should not pay more than $ 0.12.
3. Application and set up fee – one-time fees to apply for and set up your account. You should NOT pay ANY set up or application fees!
4. Monthly maintenance fee – as the name suggests, it is charged monthly to keep your account on file. You should not be paying more than $ 10.
5. Support fee – another monthly charged for customer service. You should NOT pay ANY such fees.
6. Virtual terminal fee – a virtual terminal is the application that you will open in your browser and enter the payment information as you are taking it over the phone or getting it from a form you got in the mail. It should be provided for free.
7. Gateway fee – it should not cost you more than $ 15 per month.
Once your selection is made and all required paperwork is submitted, the set up of your merchant account should take no longer than two business days.
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Question by bhu: What is Payment Processing engine and Payment Gateway?
Can a corporate setup its own gateway or engine to process online money transactions. How is it done and what would be the cost to setup one.
Best answer:
Answer by ERAZ
Through payment gateway you can accept online payments from your clients on your website like 2co.com, moneybookers.com etc and they charge some percentage for providing this service like (.05$ +10%) for transaction > 100$ but exact figurs vary from gateway to gateway and yes you can setup your own for this you need to open merchant account in any bank. but my advice is to go for 2co as they also accept paypal along with credit cards and their fee is less than others and also taking services of any gateway is easier than settingup your own as gateway also provide security for not only client credit card but also for you and client feel more comfortable with well known gateways.
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Creditcall Announces Certification with 12th Processor in North America and …
Creditcall, the EMV-ready payment gateway provider and EMV migration specialist, has expanded its North American reach by certifying with Canadian processor Desjardins, its fifth processor partner in the nation, and 12th in North America. The …
Read more on Parking Network (press release)
TransFirst and InvisiCorp Announce Alliance
HAUPPAUGE, N.Y., Sept. 11, 2014 /PRNewswire/ — TransFirst, a leading provider of transaction processing services and InvisiCorp, Inc., makers of InvisiPay, have announced their alliance to provide increased value to their customers. The companies are …
Read more on IT Business Net
Privacy Policy
All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and …
Read more on Delphos Herald
GuestLogix Signs 5-Year Agreement with Pan-American Carriers, InselAir and …
GuestLogix' Global Payment Gateway™ will also be leveraged to provide enhanced revenue protection via advanced fraud reduction tactics. With this agreement, GuestLogix expands its Americas footprint and successfully grows its presence in Latin America …
Read more on Newswire Today (press release)
