Difference Between A Merchant Account And A Merchant Payment Gateway Services!
If you are an e-commerce business merchant. Then you must already know the terms about merchant payment gateway services. A merchant account or the payment processors. They provide various necessities for your business about selling products and services online. But there are still lots of people who are less aware of these concepts. So if you are new to the industry or wanted to grow your business. We have tried to make things simpler for you understanding all these concepts.
What Are The Merchant Payment Gateway Services?
The merchant payment gateway services are referred to by advanced technology. This integrates with your e-commerce website very easily. This merchant payment gateway services act as an intermediary role. Providing the functionality to process transactions from your website to the payment processor.
This merchant payment gateway service lets you accept multi-currency payments. From both offshore businesses and customers. Functions of merchant payment gateway services are:
- Easily Integrate With Your Existing Online Website: Merchant payment gateway services are easy to integrate with your online store website. So that you get capable and take benefits of processing credit card processing for small business solutions.
- Capturing Payment Details For Customers In A Highly Secured Environment: The business merchant forwards the information to the merchant payment gateway services. These sensitive credit card details are encrypted. This encryption ensures maximum security and lowers the risk of any fraud.
- Routing The Payment Information To The Acquiring Bank: The acquiring bank receives all the information provided by merchant payment gateway services. Here, the bank checks for fraudulent transaction screening. After then it is forwarded to the card network.
- Approval Result Back To Business Merchant: After going through the whole cycle of merchant payment gateway services. The merchant directs the customer to the payment confirmation page. If the transaction is declined within the credit card processing of merchant payment gateway services. Then the merchant will direct the customer to provide another form to retry the payment.
What Is A Merchant Account?
A merchant account works as a holding place for your deposits which helps you to process debit cards and credit cards payments. The merchant payment gateway services deposit all the funds here in the merchant account. In a fixed interval of time, your funds get transferred to the business bank account.
This merchant account helps you to reduce the number of chargebacks with chargeback alerts feature. It also gives you the facility to provide easy refunds. If a customer wants to return the product or services purchased by them. This merchant account services offered by Quadrapay can be of two types. i.e. low-risk merchant account and the high-risk merchant account. The high-risk merchant account gives you access to accept cc processing for a high-risk business. Including the adult credit card processing industry, firearms and travel credit card processing, etc.
How To Get A High-Risk Merchant Account?
Quadrapay has made things simpler for you. Now you can easily apply for a high-risk account or a low-risk account. A business merchant has to fill all the required details in the form. Along with all the required documents for verification are also needed. That’s it! Your merchant account providers may approve your high-risk credit card processing account within 48 hours.
If you still have any concerns. We are available with our 24*7 customer support service at [email protected]