A payment gateway serves as a connection between a bank and website, which means that the payments can be made directly at the website and deposited right into the bank account.
Thus a payment gateway¬†can be defined as a dedicated server used to link websites and banks such that online credit card transactions can be accomplished in real-time.
In this section, we answer some of the most common queries raised by our clients regarding payment gateways. Please feel free to call us at 855-267-8472 or write in to us at email@example.com in case you have a question that is not covered here.
Why Get An Online Payment Gateway?
The Internet Payment Gateway serves to make real-time credit card processing possible. The moment a credit card transaction takes place, it is the payment gateway that cross checks the validity followed by encryption of the transactional details. It also makes sure that the transactional details reach the right destination and it also serves to decrypt the responses which are sent back.
A payment gateway also assists you to accept:
- Electronic Checks: Various payment gateways help in real time or online processing of electronic check transactions
- Credit Cards: It provides the flexibility to clients to get real-time credit card authorization wither through http or secure servers with payment gateways.
What Is A Virtual Terminal?
A Virtual Terminal ¬†or VT is a process which helps in processing manual credit card transactions through an electronic connection.
What Is The Use Of A Virtual Terminal?
The payment gateway provides users with a virtual terminal. This allows hosting of terminals for multi-user networking. It also allows an online reporting facility to the users for all the orders and transactions they make. Through secure servers, merchants can login to a website and process online credit card transactions, perform authorization, etc.
It basically acts as an intermediary between the merchants and their accounts. A web interface, virtual terminals allows merchants to manually enter the details of the customers into the browser and then submit them for prompt authorization and processing.
What Are The Benefits Of A Virtual Terminal?
Virtual Terminal offers a variety of benefits to its users. These include:
- Fast and easy usage: Fast, reliable and easy to use online feature.
- Manual credit card transactions: A feasible option for phone, mail orders and fax as the merchants can enter the credit card details manually.
- Cost effectiveness: Virtual Terminal helps to reduce cost and save significant amount of money.
- Refunding: It allows the merchants to easily refund the money into the credit card of the customer.
- Security: Provides secure SSL and a reliable protection system.
- Increased sales: It allows the merchants to expand their business beyond the world of e-commerce.