More guidelines
If one decides to begin payment processing online, you need the following:
• Secure Server with Certification: When your customer enters their credit card information, it is transmitted in “plain data without any coding” to the server hosting the website. To prevent data interception, use SSL encryption to prevent any unauthorized data decoding.
• Order Form: A form on which your customers can input personal and banking information and the order form must be on a secure server.
• Gateway: The gateway allows the authorization, processing, and management of the merchant services. It is the mechanism of transferring your customer's vital information to the processor so you can get paid.
• Shopping Cart: A shopping cart is a software that allows small business to have an e-commerce store wherein the purchases are automatically calculated for you. Ensure the gateway is compatible with the shopping cart.
• Merchant Service Account: You can have a secure server with certification, an order form, shopping cart and a gateway, but real-time processing cannot take place without establishing a merchant account. The merchant account provides access to a processor able to authorize, capture, and settle credit card transactions.
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