What is an internet payment gateway and how does it work?

Payment gateways give ecommerce merchants the ability to process payments online. The payment gateway connects the merchant’s online shopping cart to the payment processor. This allows for transaction authorization and the transfer of funds from the customer to the merchant’s acquiring bank.

How do I choose the right payment gateway?

When implementing an internet payment gateway, consider the following:

Features

Many gateways provide features that improve both customer and merchant experience by increasing the speed, security and efficiency of transactions. VersaPay offers several gateway solutions with features to meet your specific business needs.

Reliability

Merchants who process their transactions with a reliable gateway provider can offer customers an improved online shopping experience. Make more sales by offering a payment service that runs 24/7.

Compatibility

Will your payment gateway be compatible with your shopping cart? VersaPay offers solutions that are compatible with nearly any online shopping cart solution.

Cost

As you set up your internet payment gateway, expect to pay for:

• Set-up costs associated with implementation.
• Monthly service payments.
• Transaction fees.

Additional expenses may occur if your current provider’s gateway is not compatible with your shopping cart. VersaPay’s credit card payment gateway offers seamless integration with nearly any online shopping cart solution while providing competitive prices.

Location

If you are a Canadian merchant, it is advantageous to choose a Canadian payment gateway. While ecommerce removes geographic borders, there are distinct advantages to working with a payment gateway provider who … Read more