Credit cards are used by virtually anyone looking for a convenient way to pay for goods and services. If you have an online business, having the ability to accept credit cards is especially important. Without this option, customers will quickly abandon the site and shop elsewhere. That’s why any online business – large or small – needs a payment gateway. A payment gateway serves as the mediator between your business’ shopping cart and the credit card payment. There are several popular payment gateway service provider – you’ve probably heard of PayPal or VeriSign.
Types of Payment Gateways
There are two main types of payment gateways. A secure order form is the most commonly used one. This form takes the customer to a third-party site so that the credit card can be processed and the payment can be deposited into the business’ merchant account. Another type of gateway is an application program interface that is on the business’ website. The code is integrated into the business’ e-commerce site to allow it to process credit card payments.
Benefits and Features
Having a payment gateway offers many advantages. With a payment gateway, there are no barriers to payment. You can accept a credit card payment from anyone, anywhere – even someone halfway around the world. You can receive payments 24/7, at any time of the day. With many consumers reaping the benefits on online shopping, you can allow customers to shop and pay with ease if you offer credit card processing. A payment gateway also informs customers of their payment status immediately – they can find out if their credit card was accepted or declined without any guesswork. Plus, using a payment gateway speeds up the order and payment process. The transaction is guaranteed to be 100% safe and secure, giving customers peace of mind when they enter credit card data online.
Simplify your business by setting up a system that allows you to accept payment methods from across the globe. It’s easy with Allied Wallet. Read more at https://www.alliedwallet.com/global-payment-gateway/.
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