The Best Payment Gateway is a service provided to merchants processing credit card payments and debit cards for e-commerce websites to both physical stores. Another way to view a payment gateway is considered as equivalent to a cash register for online transactions. To the payment gateway works both for the merchant and the customer, you should be safe and easy to use.
Many gateways provide reliable and trustworthy payment the following steps to ensure that confidential financial information is transported safely to their final destination.
- A payment gateway encrypted (coded information for private use) information for use between seller and buyer.
- An authorization request occurs when the payment processor obtains permission from the Credit Card Company or financial institution to proceed with the transaction.
- The final step is compliance, where the payment gateway receives final approval, allows the website interface, and continue the next operation.
This was just a panoramic view of how a payment gateway operates and maintains insurance financial customer data. Now we delve into the details of how payment gateways really work.
How it works
As a trader, it is important to become familiar with the mechanics of how payment gateways work. This will also help to identify what payment gateways will benefit both you and customers to pay for the trip as safe and smooth as possible.
Your customer will choose the product or service of your choice and proceed to the payment page. Many payment gateways available today offer a variety of options for your payment page. Some options may include.
A hosted payment page: This is a payment page prepared which is directed to customers when they are ready to buy. The payment gateway acquires financial data securely, before moving on to the buyer. The hosted payment page prevents PCI concern for merchants if does not store customer data on your server.
Integration Server to Server / Direct integration: it facilitates communication between the server of the merchant server and payment gateway. With the application of an information credit card directly on the payment page, you can easily establish a direct transaction. Customers also have the advantage of not having to complete payment by credit card being redirected to the payment page found in the payment gateway. This process results in a payment faster and stable customer experience. This payment page is beneficial if you are a trader who collects or stores payment information before transmitting it to the payment gateway for processing.
Encrypting the client-side: this involves the encryption of confidential information in the “device-side client” before transmitting it to the merchant server. It allows you to accept payments on your website as it encrypts data credit card in your browser using encryption library payment gateway.
- The client proceeds to enter the information from your credit card or direct debit on the payment page. Information entered must include the name of the holder of the credit card expiration date and card number or CVV (Verification value card). This data is transmitted securely to the payment gateway according to the type of integration you choose (hosted payment page, integration server to server, or encrypt the client-side).
- Then, the payment gateway “Qazeek“ figure information or credit card fraud and performs checks before the information is sent to the bank acquirer.
- The acquiring bank then sends the information so sure the company credit card (Visa or MasterCard).
- The credit card companies carry out another level of fraud screening and then send the payment information to the issuing bank.
- After detecting fraud, the issuing bank authorizes payment. The payment message whether approved or rejected is returned by the credit card companies to the buyer.
- Then the bank acquires transmitting the report of rejection or approval to the payment gateway. This message is then sent to the merchant. Once the payment is approved, the acquirer takes funds from the issuing bank and deposit the money in the trading account.
- The agreement, or when funds are deposited into the merchant’s account, will happen depending on the type of agreement reached with the merchant payment gateway.
The trader can submit a payment confirmation page or ask the client to provide another form of payment.