| Payment Gateways and Processing Services |
Before you can accept payments online you will need a payment gateway and merchant account.
Advanced e-Resources can provide both services in one easy to use interface. Advanced e-Resources will
waive the monthly gateway fee for the first 30 days to help you get started with your new store!
DEFINITIONS:
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Merchant Account: A merchant account is a type of bank account that will allow a company to accept credit cards for goods and/or services. Most banks require merchants to have a separate merchant account for online transactions. This allows them to underwrite the added risk of fraud when accepting credit cards online. Online transactions have a much greater chance to be fraudulent when compared to those done in a brick & mortar store in which the shopper presents the credit card.
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Payment Gateway: A payment gateway is the "middleman" between your merchant account provider (see above) and the shopping cart software. The payment gateway service is needed to automate the authorization, and capture of funds from credit cards on the Internet, but is not necessary if you will not mind manually submitting the credit cards to your merchant account provider.
PROCESS:
Following is the process of how a payment gateway would work with Miva Merchant or CartXpress, your merchant account provider, and the shopper in our online store:
- A shopper places an
order in your online store, using Miva Merchant or CartXpress.
- The payment gateway encrypts the information entered, and sends it securely to the credit card issuer for validation and verification of available funds.
- An approval or decline is returned to Miva Merchant or CartXpress via the payment gateway. If approved Miva Merchant or CartXpress will provide the customer with an invoice, and may notify the
merchant of a new order via e-mail.
- Once the order is fulfilled, either automatically or by the manual shipment of goods, a settlement request is sent via the payment gateway to the merchant account provider. The merchant account provider will then deposit the funds for the transaction from the shoppers credit card into the store owner's checking account.
There are integrations bundled right into both shopping cart software solutions. This will save tons of time by letting you avoid developing the integration, yourself.
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