Integrate your website easily into our PCI Compliant gateway. Your customers will be able to enter their billing, shipping and card information directly on your website or our hosted payment page (if you are not PCI Compliant) before submitting their order for approval. A full application programming interface (API) manual is available for webmasters to assist with integration. Our API will work with most shopping carts allowing for easy setup for the webmaster and easy use by the customer.
Our virtual terminal is easy to use. Merchants are able to manually process MOTO (mail order/telephone order) transactions by entering their customer’s information including card information. After submitting the order, approval or decline only takes 1-2 seconds. Merchants are also able to manually setup recurring billing while also refunding transactions from the virtual terminal.
The merchant back office provides real-time online reporting for merchants to; check the status of transactions, add new processing accounts and adjust fraud prevention tools. A technical support staff is ready to assist with integration and ongoing support. GlobalPay LTD will help your company integrate, manage and maintain your processing solutions. We will analyze your processing volume and add new processing solutions from different banks in order to spread your volume out. This is the safest way to minimize problems in case one of your processing solutions is closed.
How Does A Payment Gateway Work And Combine With An E-commerce Merchant Account?
In many instances merchants do not in fact know what the exact function of a payment gateway is. They also do not really understand the reason why they require a payment gateway. As often as not there is a lack of understanding regarding the true functionality of the gateway and how it is different from an e-commerce shopping cart. On top of that, in quite a few instances these merchants are inclined to regard merchant accounts as identical to payment gateways. So, to understand payment gateways better and know where it fits in with e-commerce credit card processing, be sure to continue reading further.
So What Are Payment Gateways In A Nutshell?
It is a web-based service that works with the shopping carts of e-commerce websites. The gateway is responsible for gathering the payment info that is shared by the customer when he or she is checking out, conceals the data by changing it into a code and then sends it to the relevant bank to be authorized.
After the bank has authorized the transaction, a response is forwarded to the merchant and shown to the owner of the card. Basically, payment gateways used by merchants who trade online carry out the exact same duties of what point-of-sale terminals do for companies that trade conventionally.
What Can Payment Gateways Do For Your Web-based Company?
Similar to point-of-sale systems, a payment gateway offers the entire selection of processing services, namely refunds and voids, authorization and capture, in addition to authorizations only.
Any of the main gateways provide a virtual terminal selection that allows a merchant to key in the transaction information into a website while he/she is completing the transaction via the phone or via mail. On top of that, the virtual terminal enables you to set up and save profiles of customers within the gateway. What makes this so great is that you can access these profiles at a later time and the processing of their payment for later transactions will be much quicker. You can also utilize the virtual terminal to create installments, plans for recurring payments and take care of any deferred payments.
All of the main payment gateways also currently support an Address Verification Service (AVS), a Visa Card Verification Value 2 (CVV2) or a MasterCard’s Card Validation Code 2 (CVC2). The AVS is a tool to manage risk as it empowers a merchant who is accepting card payments and operates in the e-commerce environment to check the customer’s billing address by comparing it to the address that the card issuer has on record. This way fraud and chargebacks can get reduced. CVV2 and CVC2 also help to reduce e-commerce fraudulent activities. However, these services make use of security codes that are found on the card’s back. This helps to prove that the customer is in possession of the actual card when using it for payments online.
The Interaction Between A Shopping Cart And A Payment Gateway
So, how do these two interact? Well, a shopping cart and payment gateway do not enter the transaction process at the exact same stage. What the shopping cart does is it allows a customer to pick items that he or she wants to buy and then works out the final total of the order that includes any applicable shipping charges, handling fees or tax.
After that total has been calculated and the customer has placed the order, the customer is then directed to the checkout and he or she must then share the payment details. This payment info is gathered and taken care of by the payment gateway as outlined earlier on.
So Merchant Account Or Payment Gateway?
Similar to a POS terminal, a payment gateway is a tool that helps to look after the payment details. Thus, just like a POS terminal is a component of every single retail merchant account, a payment gateway makes up a key component of all e-commerce merchant accounts.
However, this merchant account service is more than just taking care of the info given by an account holder. It empowers traders to welcome debit cards, credit cards and other ways of paying as it connects the physical and virtual checkout mechanisms with the bank which receives these transactions and reimburses the account of the merchant with the relevant amount (the transaction amount minus the processing costs for the transaction). To sum it up, a merchant account service offers this entire process. In other words it all begins at gathering the info at the virtual or physical point of sale, when the payment is made.
A Comprehensive Step-by-step Explanation Of The E-commerce Transaction Process:
1. The account holder completes a form gathering the payment info so that he or she can pay for the products or services at the checkout of an e-commerce website.
2. The gateway gathers the payment details.
3. The gateway converts this info into a code to prevent unauthorized use.
4. The gateway sends the data in its encrypted form to the processing bank so that it can be authorized.
5. The processing bank forwards this request, via the payment networks of MasterCard or Visa, to the card issuer.
6. The card issuer now either rejects or approves the transaction and forwards this response, via MasterCard or Visa, to the bank.
7. The processing bank then sends this response via the gateway to the merchant who can then finalize the transaction.
8. If the transaction has been given the green light, the merchant will deposit the funds with the processing bank and ask for the payment.
9. The processor will then credit the account of the merchant and send the transaction to MasterCard or Visa.
10. MasterCard or Visa will then pay the processing bank and will debit the account of the card issuer.
11. And finally, the card issuer adds the transaction to the account of the cardholder and asks for payment via one of the monthly statements.