Credit Card Payment Gateway Table of Contents
In the world of e commerce you are probably already aware that there is quite a lot of difference between a virtual terminal and a payment gateway. Although both are used widely within the industry, they serve slightly different purposes. The virtual terminal will be used to connect to a merchant account provider and will be able to provide an interactive and fully responsive interface for your customers to use when shopping on the Internet. However, the payment gateway is not designed to do this, it does not interact with any merchant accounts and instead works solely by acting as a connection point between your customers and a payment processor such as PayPal or Google checkout.
One of the big questions many people have is whether or not using a virtual terminal and a payment gateway is a good idea or not. To put it simply, they do separate functions but if you look at them on a broader level, both of them are useful for the same purpose - to provide a fully-interactive and responsive website to your customer. The biggest difference lies in the manner in which you can collect funds from your customers. When you use a payment gateway and you allow your customers to pay with their credit card or debit card through your website, you are effectively allowing them to deposit money into your bank account.
On the other hand, when you use a virtual terminal, you are providing a completely interactive and responsive web page for your customers to make purchases. In this way, you are providing them with the means to pay directly from your website. With both of these options, you are basically doing the same thing but in two different ways, thus making the question of what is the difference between a virtual terminal and a payment gateway a little less important.
A Payment Gateway is an online service which offers its users a safe and secure way to complete transactions for online payments. Payment gateways are specially designed to protect credit card information from unauthorized use. An example of a Payment Gateway is PayPal, which has been at the forefront of Internet security for quite some time.
First, open a virtual terminal or an e-commerce website where you can conduct your business and make transactions easily.
Second, you would need to open an account with a payment gateway provider and provide the virtual terminal with your bank account information, including your credit card number.
Third, you would then enter your credit card information into the virtual terminal. With this information, it would automatically take payments from your bank and transfer them to your online merchant account.
Finally, you would receive the transaction details in your e-mail.
The connection between merchant accounts and payment processors goes way back to when the first credit card was created. When a person purchases something with a plastic card, the transaction is actually processed through a processing company like MasterCard, Visa or Discovery. These companies work with all of the major card companies including Visa, MasterCard and Discover. The major credit card companies have set standards for what their card will look like, how it works and how a merchant account company like PayPal will process the sale.
This allows all of these companies to receive payments for the various transactions that are made. A merchant account is an agreement between a merchant and a credit card processor. All of the major credit card processors will work with a merchant account provider such as PayPal. The merchant account providers are the ones that handle the payments and process the transactions for the merchants.
Payment processors like MasterCard, Visa and Discover will also work with payment networks like PayPal. The networks will allow merchants to take their credit card transactions to other places and they will charge merchants for the use of their services. Some of these networks include Alipay and Imbuy. Imbuy is used by a lot of Chinese merchant accounts. Alipay is used in China, Japan, Korea and some countries in Asia and the United States.
Payment processors and payment gateways go hand in hand. Both are designed to help facilitate secure, safe transactions that occur between customers and merchants. However, while one acts as a middleman to process payments and transfers money to and from accounts, the other is a hardware that is used to process the money from the customer's account. It could be in the form of a computer terminal, a phone line for connecting to the merchant's site, or a wireless device such as a smartphone.
Gateways and processors can be found on the Internet. They come in varying sizes, depending on the size of the business and the average number of credit card transactions they process on an annual basis. In addition to the size of the company, it's important to consider whether the payment gateway is needed by the merchant or not. If not, it would make perfect sense to pay a retailer or an individual for the role instead of hiring a third party to do the same job.
When shopping for a payment gateway or processor, it's critical to consider factors such as price, speed, and ease of use. It's also important to choose a company that provides excellent customer support and warranties to protect against software or hardware failure. Of course, the best payment processor and gateway will work seamlessly with each other to facilitate safe and secure transactions between merchants and their customers. No one wants to experience an issue with a processing company and then have to call a customer service representative to discuss the problem.
Payment gateways are used when a site wishes to accept online payments from buyers who are willing to pay for products or services on a secured server. The security measures include encryption of all data passing through the payment gateway and a protected server. To make the transaction secure, the client website needs to authenticate itself by requesting authorization from the buyer's website. It also checks the buyer's website to make sure there is a trusted source for the payment.
There are several methods that payment gateways use to identify sellers and buyers. First, the IP log files containing the details of the Internet Protocol addresses of both parties are exchanged between the seller's site and the buyer's site. This is known as the Identification portion of the transaction. Next, the website of the buyer contains a cookie that is enabled so that all anonymous browsing information is recorded. This cookie is saved on the buyer's browser and used later when the buyer makes a purchase at the seller's website. Both parties use this information to establish an encrypted connection between their respective sites.
To take full advantage of the protection payment gateways offer, it is important to choose a company with years of industry experience. Companies that have built trusted reputations in the industry understand how the system works, what security measures are in place, and how they can best protect you. To find a company that can provide you with a tailored solution that provides you with the protection you need, talk to your virtual assistant (VAs) today. They can help you figure out how payment gateways work and which company offers the best protection for your online business.
When it comes to using the internet there are many different technologies out there that you will encounter including payment gateways. These are services that are used to allow people to pay for products or services on the internet. A lot of people use these services to make online purchases as well as transfer money from one place to another. If you have never heard of a payment gateway before then the term may be foreign to you. This article is going to explain what a payment gateway is and how it works.
In order to explain what a payment gateway is it will first need to be understood that there are two different types of technology that are used to provide this service. The first type is known as a Payment Provider where a third party is responsible for processing all of the transactions that occur on the internet. The second form is known as a Payment Gateway where all transactions in which a customer places are handled by the payment gateway itself. Both of these types of systems work just the same but the way they process the transactions is very different.
When using the internet today many things that you would find to be very simple are now being handled by these Payment Gateways. The most common thing that happens is that you go somewhere on the internet and do a search and you will come across websites such as Amazon or Hotmail. At these websites you will see a field that says Payment Processor and underneath it is the word Payment Gateway. When you click on this it will take you to a new page where you can check out what a payment gateway is and how it works.
Scroll down to read our indepth Payment Platforms guide. What you should know, Payment Platforms features, price plans and support. Pros and Cons of Payment Platforms as a payment gateway, everything is explained below.
Spreedly is a software company that specialises in payment-gateway software for small to enterprise level businesses.
Spreedly is listed as the best payment-gateway software related to Payment Platforms. Spreedly was founded in 2008 in Durham, NC and currently has over 79 employees registered on Linkedin.