Buying and selling products and services online is faster than ever before. Merchants can easily accept customer payments from credit cards, debit cards, and bank accounts with an online payment gateway. A gateway is a secure, automated system that takes the payment from a buyer and delivers it to the merchant.
This service processes the payment, authorizes it, and then accepts or declines the transaction based on the information received. You can browse https://omni-pay.com/payment-gateways/ to get the best payment gateway service.
An online payment gateway provides many benefits for merchants, including enabling them to:
• Quickly and securely accept all major credit cards, debit cards, and ACH payments
• Reduce overhead costs and increase sales
• Protect customer and business data with PCI compliant security
• Take advantage of management tools that include detailed reports, batching, voids, and returns
Merchants with an online payment gateway have the option of using a virtual terminal, online shopping cart, and even smartphone applications to accept payments.
Virtual Terminal
A virtual terminal operates like a physical credit card terminal, except that this virtual solution allows merchants to manually input credit/debit card information on their computer to process the transaction. Unlike traditional credit card processing machines, a virtual terminal is more flexible, requires no hardware, and doesn't take up any business space.
Virtual terminals are easy-to-use, adhere to all PCI compliance standards, and are typically more cost-effective. Since everything is done online, merchants don't have to spend money on physical credit card machines and other costly resources.
Just about any type of merchant can benefit from a virtual terminal. Mail order and telephone order (MOTO) merchants can use a virtual terminal to instantly process credit cards and other forms of payment. Home-based businesses can also use virtual terminals with an online payment gateway to process customer payments quickly and easily. They can also create detailed reports, which can simplify account management and tax filing.
Online Shopping Cart
Online shopping carts make it easy for customers to shop on a merchant's website, add their items to the cart, and checkout through the website. Offering an online shopping cart option makes a website more appealing and the online shopping experience more convenient for companies and customers alike. With the right merchant processing service and an online payment gateway, businesses can take advantage of benefits that include: