The merchant acquiring bank acts as an intermediary between the business and the credit card company, facilitating the authentication of the payment and other technical aspects. Instead, you’ll need to open a merchant account.Ī merchant account is a bank account with a merchant acquiring bank that businesses use in order to accept credit card and other electronic payments. E-commerce credit card payment systems are not tied directly to your existing bank account, so funds won’t go directly into your business bank account. When a customer makes a purchase, their money must go somewhere. Merchant accounts make it possible to accept credit card transactions You also want it to be secure, so customers feel comfortable entering their payment information on your site. You want your customer interface to be clean, easy-to-navigate and reflect your brand with your company logo and brand colors. Either way, this portal helps create an important first impression of your company. If you’re a service provider, it’s the electronic invoice you send with a payment link. If you’re selling a product, that mechanism is your website and shopping cart. Whatever your business is, you need a mechanism for interacting with your customers. Your customer interface should make a positive first impression That’s why it’s important to understand what goes into e-commerce credit card processing before you start accepting online payments and choose your merchant account or provider. You have choices in each area, and the choices you make can affect the fees you pay, the level of customer service you receive and the overall experience your company delivers to customers. For the business owner receiving the funds, however, it makes financial sense to have a basic knowledge of how online credit card processing works.įirst, it’s important to understand that e-commerce credit card processing requires three main elements: a customer interface, a merchant account or third-party payment service provider to collect funds, and a payment gateway to approve purchases.
There may not be a need for shoppers and bill payers to understand the process. The ease and speed with which electronic payments happen due to the complex operations behind the scenes. Whether they’re shopping for goods or paying an invoice, consumers expect the option to do so electronically. Your e-commerce credit card processing service allows money to move from your customers’ accounts to yours, quickly and conveniently. Getty Images/ jacoblundĬredit card processing is an essential aspect of any e-commerce business.
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Customize the payment processing solution to any e-commerce application, for a controlled buyer experience.Customize the look and feel of the order form to match the rest of your site.Have direct access to the Payflow payment processing service via an API, a TCP/IP ?thin-client? network service.Because of this, you will need to call us at 80 to setup a merchant account, and the Verisign Payflow Pro internet gateway.Īre you looking for a scalable, fully-integrated online payment processing solution? One that meets the large transaction demands of your online business? One that will grow as your business grows and gives you direct control over how your user interacts with payment functionality on your site? Then, Payflow Pro is the payment processing solution for you. NOTE: You Must sign up for a merchant account, to activate Verisign software.