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What are Payment Methods?

A payment method is a way that customers pay for a product or service. The payment gateway will act as a go-between for the customer and the merchant, ensuring that the transaction is completed securely and quickly. An online payment gateway can make it easier for merchants to integrate the required software. The gateway manages the customer's sensitive card details between the acquirer and the merchant as a middleman during payment processing.

As the basic level of a common payment gateway, it does the following steps:

  • It connects to the merchant account. It gives the businesses one or more options for integrating online card processing with the merchant business account.
  • It keeps track of the payment information for each customer's transaction. The merchant sends their customers' information to the payment gateway using the gateway provider's tools. The gateway encrypts the payment information during transmission to ensure the security of the information.
  • It forwards that data to a payment processor or an acquiring bank. At this point, the acquiring bank takes over. It performs some fraud screenings before sending the transaction to the card networks.
  • It returns to the merchant the notification of approval or decline. The merchant sends a confirmation or rejection notification to their customers based on their yes or no response. They may request another form of payment from their customers.

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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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