Buying and selling products and services online is faster than ever before. Merchants can easily accept customer payments from credit cards, debit cards, and bank accounts with an online payment gateway. A gateway is a secure, automated system that takes the payment from a buyer and delivers it to the merchant. This service processes the payment, authorises it, and then accepts or declines the transaction based on the information received.
Merchants with an online payment gateway have the option of using a virtual terminal, online shopping cart, and even smartphone applications to accept payments. A virtual terminal operates like a physical credit card terminal, except that this virtual solution allows merchants to manually input credit or debit card information on their computer to process the transaction. Unlike traditional credit card processing machines, a virtual terminal is more flexible, requires no hardware, and doesn't take up any business space. One of the major aspects to searching the payment gateway is to source one that has been in service a good number of years and built a reputation for providing a high level of service for its clients. A well-establish solution is more likely to provide a stable working environment for your business enterprise and the level of customer support is more likely to be at a high level.
When looking at the different payment gateway solutions it is highly advisable to compare the per-transaction fees, service costs, initial set-up fees, and any other related costs. Prior to creating an account with the service, it is always worthwhile to look out for hidden costs to make certain you are fully aware of the fees you are likely to pay. If you are planning on marketing products worldwide you might wish to look at the payment gateways able to accept payments in multiple currencies. But if this isn't possible it would be helpful to at least feature a currency converter. Due to the wide reach of the internet, if you are able to offer a service that is able to attract the wider audience, you are certain to have a more productive and successful business.