The Importance of Payment Gateways for E-Commerce

Sep 14, 2017

If you’re running an e-commerce website, you can’t do without a payment gateway. A payment gateway can be characterized as the mediator between e-commerce sites and the payment processor. This system is required for secure payments authorization for your e-commerce website.

Why Do You Need a Payment Gateway?

Payment gateway systems can be viewed as the digital equivalent of credit card processors that you can find in digital stores. This makes payment gateways absolutely essential in online retail environments.

You can come across many platforms of this kind on the market. When choosing a payment gateway, it’s important to focus on whether it guarantees seamless and easy transactions, corresponds to quality standards and policies, and secures sensitive data to fight payment processing fraud.

A payment gateway is called to authorize transactions between you and your customers. So, if you own an e-commerce website, which implies you’re processing payments online, you must have a payment gateway. This is the only way to accept credit cards through the Internet.

Transactions processed over a payment gateway can be characterized as “card-not-present” transactions. What the merchant has is the credit card information that the customer enters. The merchant doesn’t actually see the customer’s credit card.

Setting Up the Right Payment Gateway

If you’re in the e-commerce industry, a merchant account and a payment gateway will be required for accepting credit cards online.

Before setting up a payment gateway, you must legally set up your business. A tax ID number, called an EIN, will be required. You must open an account, purchase a domain name, and have a working website. Then, you must select a third-party processor so that you can start accepting payments online.

A payment processor is typically a third-party company that handles payment transactions. A payment processor also provides credit card machines so you can accept credit card payments in-person.

It’s critical to turn to a respectable payment processor like emerchantbroker.com to get the best payment gateway for credit card processing. EMB, the nation’s #1 high risk processor, offers a high risk credit card processing merchant account with the lowest possible rates in the industry. With EMB, you can enjoy the best merchant account services, unmatched chargeback prevention and protection programs, and multiple payment gateways, including its own one.

When it comes to payment gateways, emerchantbroker.com provides the most advanced, intelligent transaction routing system in the industry, which is of great help to high risk merchants in their everyday business lives. Importantly, this new gateway can detect gift cards and prepaid cards, which is a major plus for retailers.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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