Choosing an Online Payment Processor

If you’re a business that accepts credit or debit card payments online, you need to choose the appropriate payment processor. Payment processors online do all the work, from capturing sales to sending you a statement of your bill and working with your banks to ensure you get paid.

If a customer purchases products on your website or in person at your brick and mortar store, their credit or debit card information passes through a payment gateway or PoS terminal. The gateway encrypts the information to protect it and then transmits it to the payment processor which in turn, transmits it to customer’s card network. The card network then checks with the customer’s bank to see if they have enough funds to pay for the item. If the bank is able to approve the purchase the card issuer will transfer funds from their account to the bank that is owned by the merchant. The processor for payment will relay this information to the merchant’s website or PoS terminal. This will notify the customer of the successful payment.

When choosing a processor take into consideration security and user-friendliness, and compatibility with the existing systems. Find a solution that provides APIs and plug-ins to seamlessly integrate with your e-commerce platform or POS system. You should also evaluate the checkout experience of your customers and your team’s report and transaction management experience. Also, ensure that you understand the contract terms and how easy it is to switch providers in the future.

basics

Leave a reply

Prime Scientific Corporation is a recognized leader in providing comprehensive laboratory solutions to the Pharmaceuticals, Textile, Research and Development

Subscribe

Enter your email subscribe to our news and updates by email.

Prime-Scientific-Corporation © 2024. All rights reserved.
Design And Developed By Icreativez Technology