Payment Gate is an important component of this online transaction process, and is similar to a credit card terminal. It is primary purpose is to first encode and safely authorize a payment based on credit card. It is typically used while receiving a CC-based payment on the Internet as its core job is to store vital credit card information. Merchant Gateways, payment portal are optional names for payment gateway. To learn more about it works, please follow the below graphic.
Payment Gateway’s Role
Businesses like IMD are even called as providers of Gateway as we provide payment gateway as part of packages. Follow the graphic to learn of the role a payment gateway plays in a credit card transaction
How Your Money or Credit Card Info is Protected
A vital element of a payment gateway is its ability to protect your data. Using a gateway enables your venture to follow PCI DDS compliance policies, making sure that in case of any untoward incident including unauthorized CC transactions, you are not accountable. Maintaining the compliance with these federal and state guidelines created by the PCE is absolutely imperative for any vendor possessing card-related-date. At IMD, we ensure that your financial give and take is safeguarded with our Fraud identifying measures.
A typical user transaction involves utilization of HTTPS protocol, safely passing all the personal data across different operators indulged in the operation. Few applications are competent enough to offer real-time transactions and conversion of dollar amount for non-native users. For every single payment done via the gateway, there is a minute charge applicable to the merchant.
Apart from safeguarding a venture from fraudulent attempts at CC-based-transactions, a gateway is capable to operate your venture seamlessly. We at IMD provide our users an effective MX Merchant gateway to ensure that the custom needs of our clients are met easily, effortlessly – thanks to a bunch of useful aspects of gateway.
In this gateway, we provide a simple Virtual Terminal along with iOS app for the mobile-based-transactions. Along with that, we even have recurring payments system allowing our customers to easily create and operation subscription-based-billing. We simplify the process to collect your product or service fees from your clients with our Email-invoicing feature. On top of that, it is a piece of cake to integrate our payment gateway system on your online store with all the subscription or payment URLs.
A payment gateway is the online-equivalent of a credit card terminal. The payment gateways’ job is to encrypt, and then securely authorize a credit card transaction. Payment gateways are fundamentally required when accepting a credit card transaction online, because they’re responsible for storing sensitive credit card data. Sometimes these gateways are referred to as merchant gateways, credit card gateway or payment portal. If you’ve yet to read how a merchant account works, we recommend you take a quick look at this handy diagram, located here.
What Role Does a Gateway Play?
Companies like iMerchant Direct are also known as payment gateway providers, since we offer payment gateway services. Below is a handy diagram that shows the payment gateway’s role in a credit card sale.
The Security You Need
The most important aspect of these gateways is their security. Utilizing a gateway can help your business to be PCI DDS compliant, ensuring that it is not held liable in the event of a breach that leads to credit card fraud. Any business that has access to card information is required to be compliant with the regulations set forth by the PCI. Fraud detection features in the gateway will guard your transactions against criminal activity.
When a customer submits an order, it is usually completed using HTTPS protocol, securely transmitting the personal information through all parties involved in the transaction. Some software is even capable of providing real-time payments and translation of currency for foreign customers. Each transaction made through the gateway comes with a small fee to the business owner, which is usually just a few cents.
While protection against credit card fraud is essential in today’s world, did you know that a gateway can also help your business run smoothly? iMerchant Direct offers its customers the MX Merchant Payment Gateway to meet the demands of merchant’s with specific, or even unique, payment processing needs, and it comes with a ton of neat features that can really help you stay on top of things.
The MX Merchant Gateway offers an easy-to-use Virtual Terminal as well as a free iPhone/iPad app for mobile processing. It also features recurring billing that makes it easy to setup a subscription or membership, as well as update any customer information needed. Email invoicing makes it a snap to collect payments, and it is incredibly simple to integrate the system into your website with online payment links.