What is Payment Gateways? ď ˝
Are you used to accepting credit card payments for your buyers through online check out? If you, you should have an online account as well as payment gateways. Payment gateway is a kind of service that sends transactions via the eBay account. It works by submitting your transaction to a designated payment gateway. With this, here are the steps on how it works:
How Payment Gateways Works?
An eBay client purchases an item presented and enters his card in the eBay account. Purchase details will be sent to the payment gateway in order to process the order. The eBay checkout is responsible in sending the details. The seller’s bank will receive the information about the transaction from the payment gateway. In return, the seller’s bank will send the information to the bank that is responsible in issuing the credit card to the buyer in order to validate the transaction.
How Payment Gateways Works?
Once the transaction is approved, the amount will be deposited on the merchant’s account in a predetermined time. After the amount is deposited to the merchant’s account, the payment gateway will forward the details of the transaction as well as the response to eBay. Finally, the buyer will be informed whether the transaction is denied or approved.
ď ˝
Utilizing payment gateways is sometimes very tricky thus you should familiarise yourself with the steps above. Along with them, here are the important considerations that you have to pay attention to in accepting credit card through eBay account.
ď ˝
ď ˝
The entire processing of the Submit order is activated through the HTTPS protocol. What is the reason behind this? This is because the eBay client is usually asked to submit perusal information. In order to authorise the page result of payment, utilization of signed request is a common deed. This is the outcome of the hash function where in the areas of the applications are verified by a secret word which is only clear to the payment gateway and of course to the merchant. For further validation, the requesting server IP is sometimes confirmed.
ď ˝
Along with issuers and acquirers, payment gateways also deal with Virtual payer Authentication which is conducted as 3-D secure protocol or commonly known as Visa or Master CARD together with card verification value. These are ideal in creating tons of security measures for your online payment. Furthermore, the 3-D secure vows to agitate some of the risks that online merchants are dealing with such as the natural distance between the buyer and seller. Payment gateway providers work in pace with PCI DSS which promise layers of security to the cardholder’s data.
ď ˝
If you are working with eBay account, you should be equipped with the necessary details for every payment transaction in order to spare yourself from any trick. Though payment gateway systems have an inherent way of working with every transaction, you can get the most of very deal when you are familiar with the process. Let payment gateways be your agent of bringing you to the success of modern online business. Content us to know more about the Payment Gateway: http://www.payscout.com/contact.php
http://www.payscout.com/ Get Paid Anywhere Easily