Credit Card Processing For Ecommerce, Mail, Telephone & Fax Order
If you wish to accept credit card payments online, by phone, fax, mail or any other transaction where you will not be able to see the physical credit card the customer is using (card-not-present), you will not be able to use an existing retail merchant account.
Retail Credit Card Processing accounts are only allowed to be used in card-present transactions which require both a swipe/read of the physical credit card and a signature or PIN#, neither of which are available in card-not-present sales environments.
Card-Not-Present sales require a special type of merchant account called an "Internet Merchant Account" and sometimes referred to as a "MOTO Merchant Account" depending on the business model.
While not necessarily considered High Risk Credit Card Processing, there are higher rates associated with an Internet/MOTO merchant account since, by nature, there's always a higher level of risk associated with card-not-present sales because there is no physical credit card to swipe/scan and there is no signature or PIN attached to the transaction.
In order to process an order on your website or by mail/phone, in addition to an Internet/MOTO merchant account, you will also need a Payment Gateway which acts like a card-swipe terminal for a card-not-present transaction.
The payment gateway has a web portal, called a "Virtual Terminal" that enables merchant to log-in and process credit card sales and refunds for things like mail, phone & fax orders; and, for Ecommerce orders, there's a way to connect your website to the gateway to enable Internet customers to self-checkout without anyone having to log into the portal and manually enter the transaction.
CyoGate is dedicated to our clients first and foremost. We do not charge business owners a fee to help secure a business loan or merchant account, and we only earn money by finding and presenting an approved deal at pricing and terms our client is willing to accept. We represent clients to our partner financial institutions honestly and ethically, and we fully disclose all offers & approvals to our clients. We base our success 100% on our ability to help our clients.
Please contact us today with any ways we can be of assistance.
Payment Gateway For Ecommerce, Mail, Phone & Fax Orders
Online credit card processing requires a Payment Gateway which enables credit card credit cards to be processed from a merchant's website. Or, in the case of mail, phone, and fax orders, the orders canbe processed by the merchant in real time from a web-based "Virtual Terminal". Using the gateway, the customer or the merchant is notified immediately upon submitting the order whether or not the credit card was approved.
An ecommerce shopping cart or web-based order form is typically used by the customer to enter an online order. At checkout the shopping cart totals the items, adds any applicaable tax and shipping charges, and collects the customers shipping and billing information. The shopping cart then transmits the details of the transaction to the payment gateway.
The payment gateway captures the credit card transaction, encrypts the transaction information, routes it to the credit card processor and then returns either an approval or a decline notification back to the shopping cart. If approved, the cart will complete the customer's order. If declined, the cart will prompt the user to re-attempt or to enter an alternate payment method.
This is a very quick and seamless process and the customer does not directly interact with the payment gateway in any way since the data is forwarded to the gateway via your shopping cart over a secure (SSL) connection.
There are three vital activities performed by an online payment gateway when a customer attempts to make a purchase from your website using a credit card or a debit check card. These include the credit card authorization, credit card settlement, and activity reporting.
If you need help with retail credit card processing or understanding the new EMV Point-of-Sale technology & liability implications, please contact us today!
Get The Help You Need!
At CyoGate, because our success is based on your success, we are always happy to help. Our professional team of Business Funding Specialists are available to help you find the best business loan and credit card processing options available.
