A Credit Card Payment Gateway is a safe and secure way to accept payments from your customers using their credit cards. Credit card payment gateways are online interfaces that interface between the merchant, your organization, the customer’s bank, and the credit card processor. Payment gateways maintain your customer’s private information safe while transferring between different financial institutions for authentication. This allows your customers to pay for your products or services by any applicable mode of payment without involving the need for additional permissions, which can easily get misplaced. A gateway eliminates this potential threat, as the transaction goes through a series of approval stages.
This online store interface also acts as a virtual terminal, which stores all necessary information regarding payment gateway transactions. All details such as account number, name of the financial institution, date, time of the transaction, billing information, etc., are stored in the secure gateway system. The details of these details are passed on to the customer’s financial institution for confirmation.
A Credit Card Payment Gateway needs to be secured and ensure maximum security of Credit Card payment data. A wide range of options is available to choose from when offering a payment gateway solution. The payment gateway solution developers work round the clock to develop software that perfectly suits both merchants and customers. The payment processor needs to provide all possible security levels and support for its customers. It is very important to work with a payment gateway provider who has been in the business for quite some time.
The credit card payment gateways also offer offsite features such as data collection, real-time reporting, etc. These offsite features make the process of accepting credit cards more efficient. The data can be collected by the gateway using any methods such as phone, internet, text messages, etc. The system then analyzes the collected data and then provides the users with suitable options. The customer can then choose an option after studying the various pros and cons of the option.
Fraud management is another important service provided by the credit card payment gateways. They monitor all the activities going on in the systems. As soon as any suspicious activity is noticed, the entire system gets checked and analyzed. If any fraud is detected, the system blocks that particular user or account from entering further. If the user can still enter the account, he is asked to authenticate himself using his security code. The process prevents any attempt to defraud the customers.
