Very often, online merchants are e-commerce challenges. To avoid problems when creating online businesses, take the time to understand the basics of e-commerce. Below you can find some of the most important aspects related to online commerce – payment processors, Payment Gateways and Merchant Accounts.
A payment processor or acquirer – a financial institution that provides payment processing services, used by online merchants. It may work with other companies that deal with sellers or consumers. Payment processor enters into an agreement to resell a payment gateway or merchant account provider, to offer their services directly to the merchant via the Internet.
There are payment systems that offer services direct marketers, but most of them provide payment processing. As a rule, payment systems prefer not to sell their services. They usually work in the background and process payments for independent sales organizations, or ISO, as well as members of service providers, or MSP, which entered into a partnership with them.
A payment gateway allows you to take your credit and debit the customer’s card when making a purchase on the Internet. Thanks to the authorization, provided a payment gateway, you can accept payments with cards directly from your website. Thus, it plays a mediating role between the transactions processed on your site and payment processor. For safety reasons, the transaction information cannot be transmitted directly from your web-site payment processors.
Seller account allows you to accept credit/debit cards via the Internet. You will need the account of the seller, if you want to process transactions from your website, using the payment gateway. Trading accounts are provided by many companies. You can get a merchant account and some payment systems and payment gateways. In addition, you can open one with a few large banks.
If you’re interested in opening a secure and reliable merchant account, consider turning to Qazeek.
It can also provide merchant accounts as they enter into agreements with payment systems for the provision of such services. Moreover, you can get a merchant account from independent contractors or agents.
In any case, to get a trading account, you must choose a suitable trading account provider that offers the best possible rates and fees for your online business.