What is a payment gateway?

 

Start accepting online credit card payments with a payment gateway. Whether you are an online business or an offline retail store a payment gateway provides you with a secure way of taking customer credit card payments online. Card payments can be accepted online via the customer entering their details into your website. Customers can also make payments by giving you their details over the phone. Telephone payments are processed via a virtual terminal.

 

Top 20 Payment Gateway Providers

1. PayPal Website Payments Pro provides a payment processing solution to businesses. It is built on Paypal’s technology. In addition to providing online payment solutions businesses can also accept payments by phone, fax or mail using the Virtual Terminal.
2. Amazon Payments is perfect for small to medium businesses that need payment checkout solutions on their website.
3. Adyen have built an online payment platform targeted at fast-growing businesses who need to accept online payments.
4. Skrill offers secure online payment solutions that enable businesses to offer a wide range of payment options. You can accept payments online via card, instant bank transfer or other popular payment options all via a single integration.
5. PayU allows you to integrate their payment gateway onto most web platforms to enable online payments. They have plug and play eCommerce solutions to optimise the payment process for your customers.
6. 2CheckOut platform is built all-around helping businesses to grow. Whether you operate in your domestic market or internationally 2Checkout will help your business succeed.
7. Payza is a payment gateway aiming to close the gap between the main digital payment options. They operate globally and are helping businesses everywhere accept payments online.
8. SecurionPay
9. BlueSnap
10. BitPay
11. Sagepay
12. Braintree
13. Cardinal Commerce
14. EPX
15. PaySimple
16. Zoho Checkout
17. PayKun
18. PayKings

What is a virtual terminal credit card machine?

A virtual terminal enables businesses to take customers not present orders by telephone via a secure web-based system. This is a very convenient way for businesses both large and small to do business online, and since research has shown that consumers are more likely to make convenient purchases, it would prompt any business to jump on board to enable online credit card processing. Using a virtual terminal is a secure, effective way to boost sales and generate new leads.

Who can use a virtual terminal credit card machine?

Virtually anyone who is looking to receive payments for goods purchased or services can use a virtual terminal. Some good examples of virtual terminal credit card machine usage include accepting credit card transactions via phone, fax and email, handling orders for a mail-order company, processing credit card payments, and collecting donations for charities and other good causes. Of course, you’ll also find everyday businesses, and many utility companies, taking advantage of the convenience and round-the-clock service that a virtual terminal credit card machine has to offer.

So, what can I do with a virtual terminal credit card machine?

With a virtual terminal credit card machine, you can handle transactions without having a customer physically in front of you quickly and flawlessly. You can use the service to manually process credit card transactions for phone and mail orders, process refunds when needed, set up recurring bills for customers who wish to have such an agreement, check on the status of transactions and sales, and pull up previous transactions as needed. As you can see, you can do a lot with a virtual terminal credit card machine!

What services come with a virtual terminal credit card machine?

While the exact specifications and costs can vary from one merchant provider to the next, in general, you can expect to benefit from the following features of a virtual terminal credit card machine:
– Being able to accept all major bank-issued credit cards and bank debit cards (these are debit cards that are connected to checking accounts, but can be run as a credit card for ease of use), and also personal checks
– Offer all of your services and receive payments for those services in one place
– Choose the equipment and/or software that’s right for you!
– Competitive per transaction charges and other fees
– 24/7 customer support

 

You can start accepting online payments by setting up a merchant account with a payment gateway. A merchant account act as a business bank account that allows businesses to accept card payment. In essence, a merchant account is where funds are received and held before being released into your account. For online payment, the role of the payment gateway is to approve or decline the transactions

 

How does an Online Payment Gateway work?

 

There are several steps involved when a payment is made online through the payment gateway

 

The customer finds the product or service they want and enters their credit or debit card details online. This information is then sent to the payment gateway.

 

The payment gateway creates a secure link to allow fast transaction processing between your business, credit card processor and the customer. Customers can see if their online payment has been successful within a second.

 

The payment is then settled if it has been successful and sent to your banks so that your company can receive the payments.

 

Have a website that you need to take online payment from? If yes – get a quote for a payment gateway right now.

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