Whether you're looking for a Complete Payment Solution (Internet Merchant Account + Gateway) or only need a Payment Gateway, PayPoint.net can offer your business credit card processing facilities to suit your needs.
Below you'll find some essential information to help you start trading online.
Credit card processing
There are a number of financial institutions involved in processing an online payment transaction.
- On the merchant’s side, the bank which holds your Internet Merchant Account is known as the acquiring bank.
- Your customers make purchases using funds from their own bank accounts or credit cards issued through various card schemes.
PayPoint.net supports a wide range of schemes for credit card processing:
- Visa
- Mastercard
- Maestro
- Solo
- Visa Electron / Delta
- JCB
- American Express
- Diners Club
Click here to download card scheme logos for your website.
In order to process an online credit card payment you will need a payment gateway. The payment gateway acts as an intermediary between your website, through which customers make their purchases, and all the financial networks, including the customer’s card issuer and your Internet Merchant Account.
At the point of checkout, the payment gateway must receive information from your shopping cart, into which your customer has placed their selected goods, so you must ensure that your payment gateway provider supports your shopping cart. Find out which shopping carts are supported by PayPoint.net.
What happens when an online credit card payment is processed?
When an online credit card payment is processed, the payment gateway
- Checks for card validity with the card issuer
- Encrypts the transaction and card details
- Ensures the details are sent to their correct destinations
- Decrypts the responses and returns it to your website either as an authorisation, referral or declined transaction.
The customer’s account is debited and the funds are then credited to your Internet Merchant Account.
A good payment service provider doesn’t just process payments. It provides fraud solutions which not only improves your customer’s sense of security, but shields you from chargebacks. Chargebacks are harmful to your credit record, and as little as fifteen chargebacks per month can cause your Internet Merchant Account to become suspended.
Good payment service providers also
- deal with settlement of funds into your Internet Merchant Account
- provide integrated reporting and administrative functions to facilitate your accounting processes
- provide technical support and management
- grow with your business.
PayPoint.net is able to offer you all these features and more: choose between our complete online payments processing packages and payment gateways.
Request a quote now or call our experts on 0800 324 7052 to learn how PayPoint.net can help you process credit card payments.
