Main methods of online payment on the website

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Main methods of online payment on the website

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Internet acquiring

The so-called acquiring bank and the processing company take part in this procedure. Simply put, a special interface is used on the seller's website, through which the money is transferred from gambling email list the buyer to the seller. The so-called issuer is the bank that owns the card, and the acquirer is the bank that carries out the transaction. These are not necessarily two different payment institutions, they can be one.

The transfer of funds from one account to another is carried out by the acquiring bank with the participation of the processing center, which is either a division of the same bank or may be an independent company. The seller receives from this center a special interface for his website, through which money transfers are carried out. For this, the law requires the conclusion of a special agreement, which means that only officially registered entrepreneurs or legal entities can use acquiring.

The processing center or bank receives commission payments for their services. Their amount depends on the transferred amounts over a certain period of time. This system of transferring funds is more suitable for large online stores, because the commission is usually quite high (a subscription fee and a mandatory minimum transaction amount may even be assigned) if we are talking about fairly rare transfers of small amounts.

The level of protection of funds and payment data here is quite high, it is provided by special 3D-Secure and SecureCode protocols, which are valid for VISA and Mastercard systems.

The downside of acquiring is that it takes quite a lot of time, because you have to personally hand over to the bank or send by mail all the necessary documentation.

Payment gateways

Gateways act as providers in Internet acquiring. These are special hardware and software systems through which electronic money transfers are processed and routed. Any acquiring bank or processing company uses a payment gateway, which can be either its own or independent.

Simply put, an online gateway is something like a regular payment terminal, through which interaction between the seller, the client and the bank takes place. The guarantor of security is the Secure Sockets Layer (SSL) encryption system. To use the gateway, the client must register in the system.

The commission for this type of online payment on the site is charged only from the seller, as a percentage of the proceeds. Here are some of the most popular operating gateways: CyberPlat, Uniteller, United Card Services, Assist, PayOnline, ChronoPay.

Payment systems - operators of electronic money (EMS)

This is an opportunity to directly make non-cash payments directly online. Having concluded an agreement with the payment system, the online store gets the right to create its own software for transferring funds and fully control all operations.

Money is transferred no longer than within three days. The commission can be set to the smallest amount, because there are no intermediaries. Another advantage is that the client is not redirected to third-party sites to transfer money (only to the gateway or to the payment system page), and this increases loyalty.

The downside here is that the payment system can take a long time to check, sometimes even a week or longer. In addition, only an experienced specialist can write your own software correctly, and you will have to pay for their services. Here are the most popular payment systems in operation: Yandex.Money, WebMoney, Elexnet, Visa QIWI Wallet, Rapida Online.