Payment Gateway a Vital Tools for E-stores!!!!
Looking for starting an ecommerce business? The main tool is essential to have an online merchant account and payment gateways. This online merchant account and payment gateway will help you to start accepting payment through credit and debit card directly on your website. There are many options with a merchant account and payment gateway from which they can vary. A payment gateway is attached to a credit card swiping machine and it is equivalent to online point-of-sale system. When a shopper selects the button PAY on the website the payment gateway start working behind the screen. This payment gateway passes the payment information to the secure server to a gateway and create a link between your bank and customer's bank. The transaction details are sent to your account within 2 to 3 days. The transaction details are sent to your account within 2 to 3 days. The merchant account bank request for authorization from the customer issuing bank to complete the payment. The issuing bank either allow or deny the payment and send the details of the authorization through the payment gateways to your website and the customers.
The payment gateway has become an essential tool in progress of online payments. The security is the main concern, issue while dealing with an online business. The payment gateway system has a high Tec tool helps to deal with security problems. There are some tools which detect the fraud transactions and also calculate the tax in real time, thus this an additional help which simplifies the whole transactions. Many tools are available in the payment gateway which can trace the real locations and detect the fraud happenings while processing the payments.
Today this shouldn't be an issue, it is much easier to collect the payments from anywhere in the world at any time via payment service provider with so many online payment solutions. Which one you trust, is wholly depends upon you. The most top 10 payment solutions are:
1 Google Wallets
2 PayPal
3 Amazon Payments
4 Dwolla
5 Authorize.Net
6 Wepay
7 ACH Payments
8 Stripe
9 2Checkout
10 Woo Commerce
What to know while selecting the payment gateway
1 Setup Fee - some of the payment gateway provider needs an initial payment to design your gateway.
2 Monthly Gateway Fee - this is a constant fee for the pleasure of using the payment gateway.
3 Per Transactions Fee - every transaction charge a fee and this include refund, voids and declines.
4 Batch Fee - if you choose to settle down the transaction, each day, then you will be charged this fee on a daily basis.
When reviewing the data read all the document carefully regarding the fees and requirements.
While selecting the payment gateway, security is the major concern in any electronic transaction. E-business will only grow when people lose the fear of losing out their money or holding out their credit card information to a fraud. The customers and even merchants feel hesitated in carrying out the electronic transaction or carrying the transaction through the web. The payment gateway system reduces the fear of fraudulent activity and got more concern about such transaction and build a good confidence among the user of payment gateways
About the Author
Patrick Daniel who is the author of the article is been associated with Radiant Payment Gateway Solutions and have an approach towards the article and believe in rewarding the partners for their undying efforts to make it happen.For more information visit http://www.radiantpay.com/highrisk.html
Submitted on: 2015-12-15 00:52:10