Internet Payment Gateway and How It Works

Merchant Basics

Transaction Express ® from TransFirst® makes payment processing possible via any device with Internet connection.  It is a complete payment processing center that lets merchants accept credit cards and signature debit cards  through any Internet connection, with no terminal needed. As an online Internet payment gateway, it allows you to process credit card orders from your website in real time; this way, your customer knows immediately whether or not their credit card was approved.

The Transaction Express electronic payment gateway can be integrated with most websites and virtual shopping carts to streamline online credit card processing. A shopping cart is usually used before the payment gateway. This function allows your customers to pick and choose the various items they want to purchase from your website, including options such as size, color, etc. At checkout the shopping cart totals the items, adds tax and shipping and collects the customers shipping and billing information.

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 notice. This is a seamless process and your customer does not directly interact with the payment gateway as data is forwarded to the gateway via your shopping cart and a secure connection.

There are three vital things that an online payment gateway does when a customer attempts to make a purchase from your website using a credit card or a debit check card. These include: authorization, settling, and reporting.

Authorization

Any purchase made with a credit or debit card via a payment gateway must first be authorized by the credit card issuer. The payment gateway checks that the credit card is acceptable. The gateway affords you a secure link between you, your customer and your credit card processor. It also allows for fast and efficient transaction processing with an average response time of 2 seconds.

Settling

At the end of the day, the Internet payment gateway groups all of your transactions together and sends them off to your bank in a single batch. This process, known as settling, passes the transaction to your bank so that you receive payment. TransFirst offers clients an auto-batch close service that automatically settles transactions at the same time every day. If there are no transactions pending in the batch, it is not closed and no batch fee is generated or charged. Once the funds settle, it normally takes two business days for you to see the funds electronically deposited into your bank account.

Reporting

This process records your transactions and allows you to view the using the payment gateway report facilities. From here you can review them, print them or download them to your computer for further processing. Transaction Express offers advanced report search capabilities including customizable reporting with up to 5 user-defined fields that drive to reports.

Unlimited Users

With an Internet payment gateway, an unlimited number of users can use the gateway at the same time, unlike a terminal or software solution where only one customer at a time can check out, or one operator can enter transactions at a time. With an Internet payment gateway, you can have multiple users entering transactions from various locations, all at the same time.

Fraud Screening Tools

Internet payment gateways also offer fraud screening tools to reduce fraudulent transactions . This includes address verification and card code value (CCV) or card verification value (CVV) to ensure that the payments made via your Internet payment gateway are legitimate orders and not from fraudulent use. It also helps prevent fraud by storing the credit card transactions in the Internet payment gateway rather than on your website. This reduces your liability as you won’t have to store any credit card information.

Other Benefits

Payment gateways provide you with a virtual terminal, where you can manually enter transactions you receive via other methods other than your website. This is extremely useful for entering in orders you may take over the phone or through the mail.

The TransFirst Transaction Express Advantage

TransFirst offers customer service and support that’s unsurpassed because we know you rely on your credit card processing system day in and day out. Our support personnel are just a toll-free call away, U.S.-based and available 24/7/365. Should a problem arise, we will work with you until it’s resolved to your satisfaction.

Ease of use is another Transaction Express advantage.  It can be easily integrated with Shopsite, SEO Cart, Zen Cart and osCommerce.

Scalability is another key concern and we have you covered! Transaction Express is customizable, flexible and scalable to grow with your business. This payment gateway puts the control of your business’ payment acceptance into your hands for the power to grow your business right at your fingertips.

 


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