The Role of Ecommerce Online Payment Gateway Provider in Singapore
An Internet payment gateway is a service of network and software that runs between a business website/ecommerce and your payment processor. It can be considered the equivalent of Internet from magnetic stripe card and terminal point of sale (POS), which are used in thousands of stores by Department.
The role of the ecommerce online payment gateway in Singapore is capturing, creating and communicating the credit card and billing information for the provider of payment services, which is responsible for processing and authorizing credit card payments on the Merchant line in Singapore.
As soon as the customer on the button ' Submit order ' button, or enter your credit card information on a merchant's website, the information is logged by software payment gateway which then encrypts certain details, such as credit card number, before transferring the information to the secure server of the payment processor.
The payment processor will send information from the customer card transaction issue banking association or card verification, to ensure that the provided information is correct. When the card details are verified, confirmation is sent to the processor of payments, which in turn sends a response code via the payment gateway, web site of the vendor for the transaction to be completed.
As well as to determine that if the payment has been approved or rejected, the response code is also used to identify the reason why the operation failed, as insufficient funds in the account of the customer, incorrect data or Bank of access is not available. This response code is then identified by the web site of the seller, who then sends an appropriate response to the client.
By establishing an Internet payment gateway the merchant not only have instant access to both a global market and a much larger customer base, but also a system that monitors all transactions online in real time. In fact also record and store that each transaction automatically for future business reference, and despite all the process may sound a bit complicated, in fact usually the transaction is completed in less than five seconds.
In addition, the process also to the clients of the dealer with a quick and easy method of payment and an almost immediate recognition of your transaction so that their products be sent faster.
The last part of the process is known as the ' liquidation ' period and includes the transfer of monetary payment of the customer, on the behalf of the payment processor, to the bank account of the seller. However, this time frame can vary and is something that should be handled when the payment processor is appointed by the seller.
E-Clear combine technology and innovation of a leading provider of payment services, with the power of a global network of payments. Our major hazards prevention and fraud protection tools are designed to ensure that the service of online processing is fast and secure that the dealer and the consumer.
There are a few examples of online payment methodes, those are Paypal, Alipay, Tenpay, 99bill, etc.