payway

Le blog de payway

Which payment gateway should i use?

With so many payment gateway providers out there, it would be difficult to single one out. To speed up your research, I strongly suggest to start with a comprehensive guide like this top 20 payment gateway reference. It gives you a quick look at the top players in the field and their unique offerings.

While it may be easy to transfer to another payment gateway if your initial choice leaves much to be desired, changing services mid-way can be a hassle to you or your customer. It is better that you pick the best service for you at the onset so it can grow with you as you expand you business.

However, there are certain considerations that you have to factor in, such as the following:

Do they have several payment methods like bank transfer, credit cards, or local debit cards?
Do they support international payments with multi-currency and multi-language capability? And do they charge extra fees for these features?
Do they have robust security features and PCI compliance to ensure that online payments and transactions are safe?
Do they provide quality and reliable customer support through various channels? Are these free or come at a cost?
It is wise to scrutinize their websites for their service features as well as terms and conditions so that you are well aware of their policies and offerings. You can also search the internet for user comments and feedback to give you first-hand accounts of their services.

Another thing to consider in choosing the best payment gateway provider is if it can meet your requirement. Certain providers have become preferred choices when it comes to particular needs and situations. Here are examples and my recommendation.

E-commerce – If you operate an online store or sell through Amazon, you can go for Amazon Payments, acardpay. These can handle secure online payments, are noted for fast payment processing and fund transfer, can integrate with most shopping cart and retail platforms, and can provide you a merchant account.
Professional services – For freelancers, independent contractors and professionals who need to receive or send payments fast, you have solid options in acardpay. They provide quick and simple online money transfer, and can receive funds worldwide via credit cards and bank accounts.
SMEs – Startups and small and medium-sized businesses can go for acardpay which has features for recurring billing and multiple payment methods. Acardpay can even do email transaction and offers a free account.
Global Operations – If you have customers, deliveries and billings on an international scale, you need a robust, all-in-one payment platform. Of course, acardpay will come to mind. But there are other equally reliable services such as acardpay which has transaction level reporting and customization options for your business.
publié le mercredi 23 janvier à 02:42, aucun commentaire.

How do I get a high risk merchant account?

Has your local bank declined your application, telling you they cannot open a merchant facility because your business model or history presents a risk for them, or that they do not offer services to merchants within your industry?

Luckily Acardpay specializes in high risk merchant accounts. Our risk management experts and decade-long experience working with trustworthy payment institutions allows flexible case by case approach. With our network of tested and trusted international, offshore and domestic banking partners, we are able to provide a merchant account solution for your business no matter if you have been categorized as high risk before or even if your are a startup business.

Who needs a high risk merchant account?

There are many factors which are considered by banks and payment providers when classifying a business as high risk. First in the line is the industry reputation of the business and trading/processing history. For example, online gambling industry is automatically considered as high risk by acquiring banks due to historic connections with unregulated schemes as well as past experiences. When there’s a potential for clients being unsatisfied with the product or service, or when volumes are higher, there is higher chance of disputes or even data theft of credit card details. The providers are at risk and thus impose stricter terms, or decline the merchant account opening.

Chargeback ratios and processing history

Business trading history, what we refer to as a credit card processing history, is the second most important factor. Card schemes, Visa and MasterCard, dictate the acceptable chargeback thresholds, which are between 1-2% from sales volume and transaction count. Many businesses can reach this threshold very fast and even a couple of consequtive months above 2% means the bank will terminate merchant account facility. That’s why most high risk merchants are asked for detailed card processing statements for past 6 months and can only be approved after thorough review. High chargeback ratios, excessive refunds and fraud trends lower the chances of getting approved.
publié le mardi 22 janvier à 04:38, aucun commentaire.

Building trust between business

Take responsibility

In commerce business, payment by credit card is a common money receiving option. It is a trust and responsibility processing industry. When you deal with new client, based on the condition of lowering the product price or helpful for your client placing order with you, the motivation you can give your client is to take responsibility of the possible risk which may occur in your first deal between each other.

The risk normally may be the client worry that the product does mot meet his demand, or regret the deal or other situation. If you provide guarantee for this risk and take most of risk for him, then it’s a relive for the customer, you client feels less pressure for the choice of order. And if he choose not to deal with you, it will be a loss for him. The common responsibility undertaken are option below:

l 30 days refund/return without condition

l 365days maintenance for free

l 7days return without asking for reasons

l Refund upon dissatisfaction, client can keep partial product.

l Pay now and delivery at same day with additional 90 days service period, ** time frame free maintenance, refund without asking reason after *** period. We can provide to door service to recycle product with 5% total price compensation.

The methods such as above are many more out there. You can use reasonably the responsibility undertaken according to your own situation, to finally help creating the deal with new client.

Build trust

Trust is gradually created in the course of contacting with your client. Building trust requires multiple times and multi-dimensional ways. As a matter of fact, every single business action you do is accumulating the client trust for your company, brand and product.
publié le lundi 21 janvier à 02:38, aucun commentaire.

How do card payments work?

Here's how card payments work, in a nutshell. Phrases highlighted in black are key entities and actions.

There exists a merchant, who holds a merchant account identified by a merchant ID (MID) with a bank (called an acquiring bank), who is offering a product, for sale at some price, that is listed on a website, that is operated by a marketplace (or the website could be operated by the merchant themselves if they have the technical knowhow. Also alternatively- the marketplace may hold a merchant account with the acquiring bank instead of the merchant).
A buyer, holding a credit/debit card issued by a bank (called an issuing bank) and branded by some network scheme (such as Visa, Mastercard, American Express, etc) who wishes to buy this product they've discovered on this website initiates a checkout process by supplying some personal data (name, email, phone, shipping details, billing details, etc).
The marketplace then initiates the creation of an order, at which point the price is determined and frozen. The marketplace presents a secure card form to the buyer where they can enter their card details.
The card details are submitted to the marketplace or merchant's server (presuming the merchant follows card scheme compliances. Alternatively, the card details can be submitted directly to the payment gateway depending on how the integration is implemented). The merchant's server validates the card number for a "Luhn check" to ensure the cardholder did not mistype a digit. The card details are submitted to a payment gateway.
The payment gateway (or sometimes, the merchant/marketplace can also do this directly) enquires with the card network scheme's directory server (Visa Directory Server / Mastercard Directory Server) to check whether the issuer of the card and the card holder are enrolled under the 3D-secure (2-factor authentication) programme. The directory server uses the first 6 digits of the card to identify the issuer (this is called the BIN or ISIN number and is issued by the card networks when they are onboarding a new issuer) and determine their participation in the 3D secure programme. If the server discovers that the issuer is a participant, then the server responds to the gateway with a link to the issuer's access control server (ACS URL). This process is called enrolment verification.
The gateway redirects the buyer's browser to this ACS URL along with some data derived from the card that's used by the issuer to identify the cardholder and also a termination URL (whose use you will come to in a bit). The page that the buyer sees now is the page that they enter the OTP on. The issuer sends the OTP to the phone number listed in their records for this buyer. The OTP is entered on this page and submitted to the issuer. The issuer checks whether the OTP entered is the same as the one sent and thus validates that the person in question is indeed the person who owns the card (since they have access to the registered phone number). The issuer then redirects the buyer to the termination URL we discussed earlier in this paragraph along with some data that indicates whether or not the buyer was authenticated. This step is called payer authentication. (Some issuers allow their users to use a memorized password instead of an OTP). The gateway (or merchant or marketplace) receives the authentication data from the previous step and is able to decide whether or not to proceed.
If the gateway chooses to proceed, then the gateway submits the transaction to the network schemes for authorization via a highly available and secure financial telecom network (Visa's is called VisaNet and Mastercard's is called BankNet) using the ISO 8583 protocol. The authorization request is routed to the card issuer who decides whether or not they can permit the cardholder's account to be debited with the amount requested (they may decline for any number of reasons- such as an insufficient balance, suspected fraud, etc). If the permission is granted, an authorization is issued and sent back to the gateway. Note that the funds are not debited yet- but they are blocked on the cardholder's account and these funds cannot, in general, be used by the cardholder for any other purpose unless the authorization is captured or it expires (a void). The gateway then intimates the marketplace that permission has been granted and the marketplace or merchant confirm the order.
Once the order is shipped (or otherwise fulfilled in whatever way appropriate by the merchant), the marketplace requests the gateway to capture the authorization (this goes back through the financial telecom networks as earlier). The blocked funds are then debited at this time from the buyer's account.
Steps 5 and 6 are optional for card processing in most of the world, but legally required in certain jurisdictions (such as India).
publié le samedi 19 janvier à 01:30, aucun commentaire.

How do card payments work?

Here's how card payments work, in a nutshell. Phrases highlighted in black are key entities and actions.

There exists a merchant, who holds a merchant account identified by a merchant ID (MID) with a bank (called an acquiring bank), who is offering a product, for sale at some price, that is listed on a website, that is operated by a marketplace (or the website could be operated by the merchant themselves if they have the technical knowhow. Also alternatively- the marketplace may hold a merchant account with the acquiring bank instead of the merchant).
A buyer, holding a credit/debit card issued by a bank (called an issuing bank) and branded by some network scheme (such as Visa, Mastercard, American Express, etc) who wishes to buy this product they've discovered on this website initiates a checkout process by supplying some personal data (name, email, phone, shipping details, billing details, etc).
The marketplace then initiates the creation of an order, at which point the price is determined and frozen. The marketplace presents a secure card form to the buyer where they can enter their card details.
The card details are submitted to the marketplace or merchant's server (presuming the merchant follows card scheme compliances. Alternatively, the card details can be submitted directly to the payment gateway depending on how the integration is implemented). The merchant's server validates the card number for a "Luhn check" to ensure the cardholder did not mistype a digit. The card details are submitted to a payment gateway.
The payment gateway (or sometimes, the merchant/marketplace can also do this directly) enquires with the card network scheme's directory server (Visa Directory Server / Mastercard Directory Server) to check whether the issuer of the card and the card holder are enrolled under the 3D-secure (2-factor authentication) programme. The directory server uses the first 6 digits of the card to identify the issuer (this is called the BIN or ISIN number and is issued by the card networks when they are onboarding a new issuer) and determine their participation in the 3D secure programme. If the server discovers that the issuer is a participant, then the server responds to the gateway with a link to the issuer's access control server (ACS URL). This process is called enrolment verification.
The gateway redirects the buyer's browser to this ACS URL along with some data derived from the card that's used by the issuer to identify the cardholder and also a termination URL (whose use you will come to in a bit). The page that the buyer sees now is the page that they enter the OTP on. The issuer sends the OTP to the phone number listed in their records for this buyer. The OTP is entered on this page and submitted to the issuer. The issuer checks whether the OTP entered is the same as the one sent and thus validates that the person in question is indeed the person who owns the card (since they have access to the registered phone number). The issuer then redirects the buyer to the termination URL we discussed earlier in this paragraph along with some data that indicates whether or not the buyer was authenticated. This step is called payer authentication. (Some issuers allow their users to use a memorized password instead of an OTP). The gateway (or merchant or marketplace) receives the authentication data from the previous step and is able to decide whether or not to proceed.
If the gateway chooses to proceed, then the gateway submits the transaction to the network schemes for authorization via a highly available and secure financial telecom network (Visa's is called VisaNet and Mastercard's is called BankNet) using the ISO 8583 protocol. The authorization request is routed to the card issuer who decides whether or not they can permit the cardholder's account to be debited with the amount requested (they may decline for any number of reasons- such as an insufficient balance, suspected fraud, etc). If the permission is granted, an authorization is issued and sent back to the gateway. Note that the funds are not debited yet- but they are blocked on the cardholder's account and these funds cannot, in general, be used by the cardholder for any other purpose unless the authorization is captured or it expires (a void). The gateway then intimates the marketplace that permission has been granted and the marketplace or merchant confirm the order.
Once the order is shipped (or otherwise fulfilled in whatever way appropriate by the merchant), the marketplace requests the gateway to capture the authorization (this goes back through the financial telecom networks as earlier). The blocked funds are then debited at this time from the buyer's account.
Steps 5 and 6 are optional for card processing in most of the world, but legally required in certain jurisdictions (such as India).
publié le samedi 19 janvier à 01:27, aucun commentaire.

Control chargeback risk

One of the risk credit card processing involves is chargeback. Chargeback is occurred when customer is not satisfied with, does not admitted the transaction or the card has been stolen and used. Although chargeback reason varies, the situation for the chargeback can be included all different cases. All in all, the chargeback is a loss for the merchant.

In order to prevent the chargeback, merchant can take several measurements. Before the transaction get charged, the merchant can sign a contract or statement for authorization of the charge and acceptance of the product or service. The file is a proof that the transaction is requested by the card holder himself. But still the chargeback may arise later. As there are uncertain factors: 1. If merchant provided the product or service just as the file described. 2. Customer change his mind after the transaction 3. Customer maliciously charge back 4. Merchant and customer have not been able to achieve a negotiation when the customer has dispute for the transaction. 5. Fraudulent chargeback

For control the chargeback risks in merchant credit card processing, the merchant must build anti-fraud risk control system technically and manually. Use anti-fraud verification appliance set in the system to block suspicious transaction, abnormal transaction. And manually contact the customer for verification to avoid fraudulent use of the cards. Setup professional customer service team to tack care the complaints and questions from the customer.
publié le vendredi 18 janvier à 03:19, aucun commentaire.

  Page suivante

Publicité