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SEVEN THINGS THAT YOU MUST KNOW ABOUT ADULT MERCHANT ACCOUNT PAYMENT GATEWAY

 Do you know what a payment gateway is? Have you heard your friends speaking about it? If you have no idea about a payment gateway then continue reading.

To make you a little familiar with the term, listed below are a few important things.

1)    Payment Gateway is nothing but a software

The Payment Gateway is software that is built for people who have internet businesses. If you have an online business and want to provide your customers with the capability to pay with their credit cards on your site then you will need this software. This software provides instant status messages telling your customers whether or not their transaction is accepted.

2)    A shopping cart application comes with the Payment Gateway Software

The shopping cart application is a computer software which can be used only by online customers. By using this software, the customers will be able to buy several of your products in one shot. For example, a customer enters your site and decides to buy a scissors; she adds it to the shopping cart and then decides to buy a book. She can add the book to the shopping cart and when she clicks on finish, all the items selected by her will be displayed together with the total amount that she has to pay. The other costs such as, shipping cost and taxes will also be added to the grand total.

3)    It encrypts the information

After the form is filled by the customer and he clicks the send button the payment gateway will encrypt the data and forward it to the credit card company for processing. Then, after a few seconds, the gateway returns a status code which tells the customer whether his transaction was approved or denied.

The encryption is required to prevent the theft of your customer’s data when it is being transmitted.

4)    It offers batch processing of transactions

For example, suppose 15 customers have each bought one item. All these transactions will be batched and sent to your bank in a batch at the end of the day. Then the bank will collect the funds from your customers and deposit it in your account.

5)    It has a reliable reporting tool

Payment Gateway comes with a reporting tool which can be used to see the transactions of your online store. Then, you can review the transactions and append them.

6)    It protects you from fraud

The payment gateway will protect you from fraudulent transactions such as customers using stolen, cloned or fake credit cards. The software has very effective screening tools which will block such transactions.

7)    It comes with a virtual terminal

This component will let you accept credit card payments over the phone. This will help those customers who don’t have a computer. The customer has to give his credit card details over the phone and the operator will enter it in to the software. The software will verify the account and approve or deny the transaction. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.