Ecommerce Payment Gateway
Many merchants are confused about how to accept credit cards online through an ecommerce payment gateway. While similar to offline processing, online credit card processing has a few minor differences -namely the way the information is transmitted.
Instead of swiping a customer's card through a credit card machine, the card information is entered in a form online and sent electronically over the Web through an ecommerce payment gateway.
The credit card processing company takes the information, runs a myriad of fraud checks, and then sends the transaction back as either an approval or decline. If the transaction is approved, the money is usually deposited into the merchant's bank account with two business days.
eCommerce For New Entrepreneurs
New businesses are born every day. If you're an entrepreneur who is looking to accept credit cards online, there is plenty of information on the Internet that will help you research your options.
Don't let the technical aspect of it all confuse you. A few simple elements are all that are required and you can accept credit cards and debit card payments over your website. All you need is an Internet merchant account and a payment gateway.
How the ecommerce checkout process works
The online ordering process works something like this. Customer chooses which items in your online catalog they want to order. When it's time to pay, he/she will submit credit card information through a secure order form.
The job of the payment gateway
Your shopping cart software will send the transaction to what's known as an ecommerce payment gateway. This is simply software that routes the customer's information to the credit card processing company.
Credit card charge gets approved or declined
Next, the processor will contact the bank that issued the customer's credit card and learn whether the charge is valid.The bank either approves or declines the transaction.
The credit card processor sends the information back through the payment gateway to your shopping cart system again.
Entire ecommerce checkout process is completed in seconds
In a matter of seconds, this whole process is completed electronically. All of this happens behind the scenes once your company has a merchant account and the necessary software.
Payment will be deposited into your Internet merchant account minus a discount fee to the merchant account provider and any other fees charged. The remaining money then gets transferred into your company's bank account.
Call 888-760-1700 to learn more about how you can utilize an ecommerce payment gateway on your website to increase online sales and profits.