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How Does Online Transaction Function?

Online Payment begins with obtaining a merchant account designed to accept credit cards payment online via the web, commonly labelled as an internet merchant account. For more info visit us at www.paygate.co.za

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How Does Online Transaction Function?

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  1. How Does Online Transaction Function?

  2. About Online Payment System • Customers today prefer a credit card option over any other type of transaction choice. These payments take - less time, lesser paperwork and can be completed at a faster pace. • The process begins with obtaining a merchant account designed to accept credit cards payment online via the web, commonly labelled as an internet merchant account.

  3. About Online Payment System • A business may apply for this banking account through a regular financial institution or a third party processing company. • The company or bank providing this service performs fund confirmation, transaction authorization and the money transfer between accounts.

  4. What Does a Business Need To Make It All Happen? • In a regular retail setting, the merchant account and swiping or entry equipment is all a business needs to begin running this form of transaction. • A payment service provider may be needed to provide the terminal used for processing each web transaction. • A shopping cart transfers all transaction details to a payment form which is integrated with a terminal used to collect all customer card details.

  5. What Does a Business Need To Make It All Happen? • The typical processing setup requires the capability of implementing technical solutions along with the merchant services factors. • If a business does not want to deal with the technical portion of accepting online payments, everything is acquirable through payment processing companies. They provide- • A simpler application process, • Quicker setup • Offer an all-in-one solution to meet transaction handling needs.

  6. Thanks for Visiting us.. Please visit our website for more information www.paygate.co.za

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