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Payment Gateway Solution

As India grows, more people are expected to enter the online market with access to easy and cheap internet services. With fast paced penetration of credit card, India is on the poised to be one of the most envied nations in the technology of e-commerce era. One cannot afford to miss participating in this growing industry. Such inclusive growth opportunity is available once in a lifetime. Topitweb infotech provides a consultative approach to Indian Merchants for facilitating suitable online payment solutions and benefit from the exponential growth witnessed in E-commerce.

Working of Payment Gateway:-

Though it may sound simple but actually the entire working of a payment gateway comprises of multiple complex steps; a brief of which is given below: -

  • Visitor places the order on the Topitweb infotech and it is sent to the merchant's web server in encrypted format. This is usually done via SSL (Secure Socket Layer) encryption.
  • The transactions details are then forwarded to the concerned Payment Gateway.
  • The transaction information is then passed on to the merchants acquiring bank by the Payment Gateway.
  • Merchants acquiring bank then forwards the transaction information to the issuing bank (one that issued the credit card to the customer).
  • Then the card issuing bank sends a response back to the Payment Gateway. The response includes information that whether the payment has been approved or declined. In case of declination the reason is also sent in the response.
  • The response is then forwarded by the Payment Gateway to the merchant's server.
  • At merchants server the response is encrypted again and is relayed back to the customer. This allows the customer to know that whether the order has been placed successfully or not.
  • The entire process typically takes less than 10 seconds. At the end of the bank day (or settlement period), the acquiring bank (or card issuing bank) deposits the total of the approved funds in to the merchant's nominated account.

Why Use Payment Gateways?

As building Topitweb infotech and selling products and services online gets easier and easier, businesses are flocking to the e-Commerce arena. Any business that can’t process payments online is missing out on a huge customer base. Not to mention the low overhead costs of e-Commerce compared to operating a brick-and-mortar storefront. A secure payment gateway allows you to list your merchandise or services online and automatically process credit cards, debit cards or other forms of payment without so much as lifting a finger.

While online business has always been vulnerable to fraud, modern payment processing solutions include multiple security measures that verify every credit card number and intercept potential criminals before a transaction ever takes place. In our day and age of instantaneous data transmission, doing business online is no longer optional. Solidifying your business presence online will give you greater reach and maximize your profit potential.

Leaders in the industry can help you do everything necessary to get your business a merchant account and accepting payments within days. Flagship Merchant Services provides everything from merchant accounts to customized  Topitweb infotech. Intuit Merchant Services provides a handful of credit card processing solutions ideal for both web and traditional business models. If you’re already online but just need to implement a credit card payment gateway, Authorize.Net is the leader in the field. The cheapest payment gateway we reviewed is E-Commerce Exchange, but cheapest doesn’t always mean best (and this is one of those times).