“Questions and Answers” Posts

What Is a Payment Gateway?

What Is a Payment Gateway?

Did you make an online purchase this week? Then you used a Payment Gateway without even knowing it. A Payment Gateway provides a safe method of transferring cardholder data from a website to a payment network for processing. It communicates the confirmation of sufficient funds and the transaction approval back to the website. It’s the technical glue that connects the point of sale to the payment network and is unique to card-not-present, online payments. Now, if you’re looking to accept online payments, you may be wondering how a Payment Gateway fits into the process. After all, there are…

What Is a Payment Facilitator?

What Is a Payment Facilitator?

Have you ever heard of Square, Stripe or PayPal? You might be surprised to learn that these recognizable names in the payments space are Payment Facilitators. There are numerous middlemen involved in credit card processing, and depending on your size and needs, different ones will prove most advantageous for you. If you're unsure what defines a Payment Facilitator, here's your answer. A Payment Facilitator provides businesses with one shared, mass merchant account. Anyone can use it, making them a preferred choice for small businesses with a low processing volume. Businesses that opt for a Payment Facilitator will share their merchant…

What Are Payment Processors?

What Are Payment Processors?

Payment Processors are the technical glue in the transmission of credit card transactions. They maintain the computer network between Merchant Account Providers and the banks, and facilitate communication between these providers. Despite being a blanket term for all parties involved in payments, Payment Processors are actually one of many providers supplying a unique service in the payment process. Payment Processors’ Contribution to the Payment Process It’s important to note that processors do not directly work or interact with businesses during the payment process. They are true “middlemen” and are chosen by Merchant Service Providers’ banks. Let’s breakdown where…

What Is Online Credit Card Processing?

What Is Online Credit Card Processing?

Online credit card processing refers to card-not-present payments that are completed on an e-commerce website via a Payment Gateway. The gateway is either provided by or integrated with a Merchant Service Provider. To be successful in online credit card processing, there are certain services and tools that are required, while others are nice to have. Learn about the providers involved in online credit card processing, requirements and how you can simplify back-end e-commerce operations. Payment Gateways and More Before you can start online credit card processing, you need to set up the following: Website Hosting: The technology and services needed…