Post by account_disabled on Jan 25, 2024 4:19:23 GMT
According to the Global Digital 2018 report, 23% of the world's population buy consumer goods online, and this number has grown by 8% over the past year. Therefore, it is important for a business to provide a convenient payment method on the website, or even several. We understand the types of payment systems, selection criteria and pitfalls. Reading time: 14 minutes Types of payment systems Internet acquiring Peculiarities Payment gateways Payment aggregators Electronic money operators Site requirements Key criteria when choosing a payment system Types of payment systems Internet acquiring The user can pay with his own card in a special interface on the seller’s website.
Before reaching Fax Lists the recipient, the payment goes through a processing center. This center may belong to the bank itself or be a separate intermediary organization. scheme of operation of the acquiring bank The acquiring bank is the bank that accepts the payment, the issuing bank is the bank that owns the payer’s card By connecting Internet acquiring, the company pays for: carrying out a transaction; interaction between the parties and verification of payment using security systems; communication between banks; access to the buyer's account. Peculiarities High security - Internet acquiring uses 3-D Secure and SecureCode security technologies for Visa and Mastercard cards.
To use this service, the company must enter into an agreement with a credit institution or processing company. Therefore, it is suitable only for legal entities or individual entrepreneurs. If payments are made infrequently and in small quantities, then the percentage charged on transactions can be high. This is a minus for small businesses. To connect, the user must independently create and maintain the technical infrastructure on his side. The contract process can be quite lengthy. A business representative must fill out an application, collect a package of documents, submit it to the bank and wait for verification. Payment gateways The gateway acts as an intermediary that processes transactions and routes payments.
Before reaching Fax Lists the recipient, the payment goes through a processing center. This center may belong to the bank itself or be a separate intermediary organization. scheme of operation of the acquiring bank The acquiring bank is the bank that accepts the payment, the issuing bank is the bank that owns the payer’s card By connecting Internet acquiring, the company pays for: carrying out a transaction; interaction between the parties and verification of payment using security systems; communication between banks; access to the buyer's account. Peculiarities High security - Internet acquiring uses 3-D Secure and SecureCode security technologies for Visa and Mastercard cards.
To use this service, the company must enter into an agreement with a credit institution or processing company. Therefore, it is suitable only for legal entities or individual entrepreneurs. If payments are made infrequently and in small quantities, then the percentage charged on transactions can be high. This is a minus for small businesses. To connect, the user must independently create and maintain the technical infrastructure on his side. The contract process can be quite lengthy. A business representative must fill out an application, collect a package of documents, submit it to the bank and wait for verification. Payment gateways The gateway acts as an intermediary that processes transactions and routes payments.