In an age of e-commerce business transactions, easy and instant payment processes is a requirement. In the last few years, the payment process gateway services have become the norm. The gateways are e-commerce application service providers, which authorizes e-business and online retail payments.
One can understand the gateway services as equivalent to the terminal or physical points of sale in retail outlets. The upsurge of credit card user facility for online shopping or purchases has revolutionized the e-commerce business.
Authorize.Net – Introduction
A 1998 establishment of Cyber Source Corporation (subsidiary of VISA), the Authorize.Net provides payment processing gateway services to merchants. With their services, merchants are given the authorization to settle and manage credit card or any other electronic financial transactions through mobile applications, telephonic orders or online purchases.
A merchant can create free Authorize.net account online within minutes. The website offers easy integration facility to online merchants and their clientele spans across all the major industries such as education, foods, government, communication, information technology and any other businesses.
The payment processing gateway services also help merchants through value added services in order to minimize or reduce the financial cost of transactions and thus, make an impact on the revenue generation.
Authorize.Net – Its Working Structure
The Authorize.Net payment processing gateway services are associated with other ISO (Independent Sales Organization) and MSP (Merchant Service Providers) organizations to enlarge their reselling networks.
Connecting the websites’ service with the merchant account is not the work of a novice. It requires technical expertise and resourcefulness to connect with the online merchants. But with the Authorize.Net account, they claim to make this process easier by letting the merchant connect the account easily. The service providers use an internet connection and not phone line to commence the financial transactions. The programming is secure, fast, reliable, competent, and safe from any fraudulent intrusions.
All the accounts are in cognizance with the legal support system. Their in-house payment mechanism works like traditional card swipe machine that we still see in retail stores. The transmission of data through their payment gateway is completely secure. To help build the consumer confidence, the service providers allow the merchants to place a free Authorize.Net logo on the website.
Moreover, the merchants need not download or install any software. The merchants are given Merchant Interface browser to generate account statements and manage the transactions easily through the browser based interface. The cost of account memberships depends on the reseller valuations and also the type of business being connected with.
The total time taken to start and finish a payment process typically takes about 5 seconds, provided the browser and internet speed is fine. When a customer submits the payment or purchase details, the browser page automatically encrypts the information that passes between the browser and the merchant server through the SSL technology. This information is again transferred to the payment gateway services and then again, it is forwarded to the merchant’s bank or the card association.
On receiving the transaction request, it is either approved or declined and the status is rerouted to the payment processing gateway services portal. This information is forwarded to the website user, confirming whether the payment was accepted or declined.by