Payment Gateway Solution
Acquiring Bank and Payment Gateway are the entities involved in Payment Processing Industries. Each entity plays a different role in providing a payment solution to a merchant. To process a payment it requires authorization and smooth coordination between all the entities.
Are you a merchant searching for Payment Gateway who works directly with Acquiring Bank?
Fantastic!! Quadrapay can help you with this. We have partnered with many processors across the US, EU and other global countries to help merchants with a payment solution.
Acquiring Bank And Payment Gateway. What’s The Difference?
Let’s discuss what an Acquiring Bank and Payment Gateway is? How do they help merchants to process transactions smoothly? And who is responsible for handling and mitigating the transactional risks.
Acquiring Bank: An Acquiring bank is a financial institution that approves and maintains a Merchant Account. Merchants need to sign an undertaking with the acquiring bank to be able to process transactions. This financial institution helps merchants to receive payments from customers on their behalf.
Acquiring bank passes the merchant’s transaction to the issuing bank to receive the payments. It governs and reduces all the transactional risk.
Risk liabilities of an Acquiring Bank:-
- Chargeback Risk
- Transaction Reversal.
- Refunds of Funds.
Payment Gateway: A payment gateway is a web-platform that captures and transfers payment information from the customer to the acquirer. It then sends the transaction information back to the customer. Payment Gateway acts as an interface between a merchant’s website and an acquiring bank. It ensures the secure transfer of sensitive information of the customer to the acquirer.
Payment Gateway With Direct Acquiring Bank
Some merchants might be looking for a solution for a Payment Gateway that works directly with the Acquiring Bank. Quadrapay has partnered with the processors who work directly with the acquiring bank. They can help you with the solution you are looking for. There can be pros and cons for opting a direct acquiring bank payment gateway.
- Merchants might get a lower transactional rate. Because they are getting payment solutions with acquiring banks directly.
- Acquiring bank handles all the risk-liabilities.
- Sometimes merchants have to take care of PCI compliance.
- Merchants might not get integration support. Because it’s an off-balance activity for a bank to provide you with technical integration support.
Get Started With Your Payment Gateway With Quadrapay
To get your Payment Gateway and go live, fill the pre-approval form onto our site. We analyze your application and business requirements and get back to you in less than 24 hrs. We at Quadrapay assign you a dedicated expert to help you to get started.
If you have any query, get in touch with us at [email protected].
Happy Processing !!!