If you’re starting an online business, there are some decisions that you’ll need to make. One of which includes setting up an internet merchant account and payment gateway service.
There are many providers out there, and not all of them offer the same services. Therefore, it’s essential for you to understand the differences to decide what features best suit your business.
Some providers only offer a payment gateway, requiring you to arrange your internet merchant account with a bank while others provide gateway and processing services in one but have more significant fees to cover the risk of fraud.
Safe2Pay offers 24/7 support through their local team, who are with you during the whole process of setting up an internet merchant account and payment gateway and processing needs. They ensure a seamless, secure and straightforward experience-just what you need to get online and keep your customers happily shopping.
So, What Is a Payment Gateway?
A payment gateway is a system that works behind the scenes of your website ensuring the safe passage of your customer’s payments from your site to your bank.
Because security must be a fundamental feature of any payment gateway, Safe2Pay’s payment gateway has been uniquely created to ensure that payment details are not only encrypted but tokenised. Every transaction substitutes the payment details with randomly generated numbers.
Safe2Pay’s tokenisation solution is unique, radically reducing payment fraud at the point where payment details leave your website and travel through the internet to the processor and bank.
And what Is an Internet Merchant Account?
An internet merchant account is just a 24-hour holding account for your customer’s payments, before being transferred to your day-to-day Business bank account.
Safe2pay is happy to help you arrange an internet merchant account when you’re ready to sell online. Just go to our sign up page here.
How Do They Work Together?
- A customer goes to your website and types in his/her card information and submits the transaction for payment.
- The payment details pass through your business’s payment gateway and then to the payment processor, referencing the merchant’s ID number and certifying the transaction before routing the information to the customer’s issuing bank.
- The issuing bank will accept or decline the purchase and send this message back through the payment processor, to the payment gateway and then to you after that your business can complete the transaction and provide the goods or services to your customer.
- Once approved the payment is deposited into your internet merchant account before being stored in 1-3 business days into your Business bank account.
This process should take place in a matter of seconds to create a seamless and enjoyable experience for you and your customers.
Safe2Pay can offer all these services together with competitive pricing and a local friendly support team whenever needed.
Contact Safe2pay online or call our friendly team on 1800 723 327 so we can get your business online and accepting payments securely and simply.