Ecommerce Essentials: A Merchant Account and Payment Gateway - Merchant Stronghold

 If you're only beginning your eCommerce business, searching to find a merchant bank account as well as the payment gateway is the top priority. With a merchant account, a payment gateway will allow users to take online payments via credit cards on your site. There is a myriad of options in terms of merchant accounts and payment gateways, but they will differ.


The payment gateway acts as the internet-based equivalent to a point-of-sale device (like the payment machine) at a brick-and-mortar store. If a customer on the internet clicks "Pay Now" on a website, their information regarding payment is sent via your secured server an intermediary, who acts as a link with your institution and bank of the customer.








The transaction details will be sent by an electronic payment processor to your bank account. The bank that manages your merchant account requests authorization from the issuing bank to make the transaction. The bank that issued the authorization can either approve or deny the payment and then send the details of the authorization to the payment gateway on your site and to the customer.



Hybrid Solutions



There are a few companies that provide hybrid solutions that incorporate the payment gateway and the merchant account in one service. The benefit of doing this is that the entire process to approve transactions takes only a few seconds however, the price for using such a service can be a bit more expensive than if you were to get an online payment gateway as well as a merchant account on their own.



What to look for?



No matter if you choose an alternative to a hybrid account or separate gateway and account it is important to look into possible options to find the one that meets your requirements. Whatever you decide to choose for your account, here are some essential features to be looking for:



  • Account Management


  • Check the compatibility in your shopping cart


  • Encryption capabilities


  • Security features and prevention of fraud


  • Hidden fees and payment


  • Features in the Reporting section


  • Costs of starting



Approach Merchant Stronghold, they are the best tech support payment gateway, providers across the world. Contact now today for more details related to the payment gateway for technical support and e-commerce businesses. Visit now - https://www.merchantstronghold.com/

Comments

Post a Comment

Popular posts from this blog

Image
  Merchant Stronghold is a very convenient, fast, and secure payment gateway solution for businesses and people to accept and send money throughout the world. Call us at +1(888) 622-6875 for more information or visit - http://rebrand.ly/32te8j
Read more

E-Commerce Payment Gateways - Merchant Stronghold

Image
  The main reason you create a storefront online is to sell your products. When people see your items you would like to encourage them to purchase. Payment gateways' services are extremely useful for customers who require payment on their purchases. A gateway is an intermediary that allows something from one location to another. In the case of eCommerce, a gateway is an essential part of making checks and allows transactions with credit cards to go through. Payment gateways are an integral part of any business online. To allow businesses to take credit card transactions it is necessary to open an account with a merchant. Businesses are able to open an account with a merchant bank that handles the bank transactions. This kind of account is where the revenue from transactions made with credit cards will be transferred following confirmation through the payment gateway. Many online businesses provide payment gateway services to companies that accept credit card payments. The business
Read more

What Is a High-risk Merchant Account?

Companies that are classified as "high-risk" require a high risk merchant account for accepting credit and debit card transactions. A high-risk enterprise is one with higher risk of fraud or chargebacks (and some other features too). But, there isn't any central authority or a framework for the industry of payments that decides the risk factors that are associated with the business. Instead, each bank and each processor of payments has its own set standards. Certain payment solutions providers may declare upfront that they do not provide services to specific sectors. Others may request more specific details about a company to determine risk, based on whether the business's application will be approved or denied. In the end, it all comes down to a processor's internal requirements and their perspective on risk management. What factors determine if an Online Merchant is at risk? Certain industries which are more risk-averse could be flagged automatically as high-ri
Read more