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Online credit card payment processing is essential to the
success of a commercial website. One of the key advantages
to conducting business online is that transactions can occur
24 hours a day at the convenience of the customer. This requires
the ability to accept and process payments online.
Manual Payment Systems
Some customers would rather mail a check or provide a credit
card number via phone or fax to the merchant, who then processes
the order manually during normal business hours. However,
manual orders for e-business transactions are increasingly
becoming the minority, with good reason. Online order processing
is more efficient for the merchant, and more convenient for
the customer.
PayPal
PayPal
is a quick inexpensive way to begin accepting payments online.
There are no credit rating requirements and there are no minimum
monthly expenses. However, accepting only PayPal may limit
your customer base. In order to make a payment through PayPal,
your customers must first sign-up for an account, which takes
time and can be confusing. Then, they have to deposit money
into their PayPal account. This can be done by credit card,
but many credit card companies charge a cash advance fee for
this. If you are serious about selling products or services
on the Internet, we recommend getting a merchant
account and gateway service.
Real Time Credit Card Processing
There are three main components needed to process payments
online.
Your customer orders your product and elects to pay with
a credit card.
The credit card information is passed from your site to your
merchant bank via the payment gateway. The merchant bank contacts
the issuer to authorize the transaction. After approval, the
merchant bank deposits the funds, less discount rates, into
your business checking account.
How
AuthorizeNet processes transactions
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AuthorizeNet detects that an order has been placed, securely
encrypts and forwards the Authorization Request to the
Consumer’s Credit Card Issuer to verify the consumer’s
credit card account and funds availability.
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The Authorization (or Decline) Response is returned via
AuthorizeNet to the Merchant. (Round-trip, this process
averages less than three seconds).
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Upon approval, the Merchant fulfills the consumer’s
order.
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AuthorizeNet sends the settlement request to the Merchant
Account Provider.
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The Merchant Account Provider deposits transaction funds
into the Merchant’s Checking Account.
Through our affiliation with AuthorizeNet and Wells Fargo
Bank, we are able to offer a complete Integrated Payment System,
which includes a merchant account and payment gateway.
You already have a merchant account? Apply
for an AuthorizeNet gateway account Choose this option
if you don't want to change your existing merchant account.
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