#radiantpay offer payment gateway solutions for eCommerce small, medium and biggie businesses around the world. Here some points every merchant should know before integrating payment gateway system to give seamless shopping experience to customers. Checkout now for flexible payment options.
A payment gateway is essential for any business owner that needs to accept
online payments from customers. Without a gateway application, securely
requesting online payments from purchasers and clients will become impossible.
The gateway performs certain functions like verifying the billing information of
the customer, verifies the funds of the payment method of the customer and most
importantly ensures that the payment owed to you reaches you safely. While the
payment gateway application is necessary, there are certain points that you need
to check out before integrating.
Typically there are two categories of payment gateway options you can choose
from. There is the modern payment gateway option and the classic payment
gateway option. Depending on your use and personal requirements, you can
analyse the various benefits of both and opt for the one that suits your needs.
In the recent past, in order for one to be able to accept credit card and debit card
payments online, it was essential that he or she had a merchant bank account.
Accepting payments without merchant bank accounts wasn’t possible. However,
with the introduction of the modern payment gateway option, you no longer
need to have a merchant bank account to accept payments. Credit card payments
can be accepted with just a regular banking account. Further, modern payment
gateways charge a payment fee that is larger in amount than the classic payment
gateways. Customers will also be redirected to another page in order to make
The classic gateway payment method is the old school method of online payment
acceptance. In this method having a merchant bank account is essential. Without
the merchant bank account you will not be able to accept any online payments
through debit and credit cards.
The payment fees charged for classic gateway payments is much more than that
charged for modern payment gateways.
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