An online payment processing service is an electronic payment system that allows customers to pay their bills electronically without having to enter payment information into their own computers or to send paper checks to merchants. For example, a customer might use his credit card to pay his bill and be able to view the transaction on-screen in real time. Other common types of online payments include e-checks, electronic bank transfers (EBTs), direct banking transfers, preplanned periodic payments using autopay, and point-of sale (POS) systems . A merchant typically enters this financial data when setting up an account with the services provider, but it can also be entered later on by entering new transactions. Some providers offer third party software applications for mobile devices so that customers can access their accounts anywhere at any time. There are many advantages to using this type of service including saving money since there’s no longer need for paper check printing and ...
Payment gateways are an important component of any online store. Here we look at some tips on how to get started using them.