26 Nov 2024 By PAYCEC
Unipay payment gateway, a well-designed payment system, enables businesses to take payments securely and effectively. The UniPay interface allows merchants to visit the AcceptPayments website. These businesses can also accept multiple foreign payment methods for their online purchases, in-app sales, POS, and terminals.
However, for companies that want to expand the range of options or obtain a contrastive solution, the connection with the payment gateway, for example, PayCEC, So let’s learn how the Unipay payment gateway works and why PayCEC may be beneficial for your business to consider.
Since a customer’s transaction may involve an online purchase or a service, the payment request is the first step in the process. The Unipay payment gateway safely gathers the payment details from the buyer and forwards the details to the processing stage. This can include transactions made using credit cards, debit cards, or other wallet-related means.
Data security, or the safe storage of user-inputted data, is the fundamental element of any payment gateway. To prevent unwanted access to payment details during the payment process, UniPay uses SSL encryption and complies with all PCI-DSS regulations. This can help prevent fraud and guarantee that data is protected.
The acquiring bank or payment processor receives the encrypted data from UniPay and uses it to contact the customer's original bank. If the consumer has sufficient funds to reimburse the merchant or the request is legitimate, bank checks will be sent. The transaction is approved by the issuing bank once all verifications have been completed.
Every time the cardholder enters the authorization number sent to them by the issuing bank into the UniPay system, the transaction's final confirmation is raised, allowing the merchant to proceed with the sale. After the consumer receives this confirmation, the transaction is considered successful, and the order can be completed.
The settlement process begins after the transaction is finished. Money is sent safely from the customer's checking account to the merchant's account thanks to the Unipay payment gateway. The funds are usually credited within 1-3 business days.
Moreover, the Unipay payment gateway provides an opportunity for merchants to control the history of their transactions and generate useful sales, customer, and payment success rate information. It is beneficial when payment methods are optimized and when customer satisfaction is increased.
With the help of the functions that UniPay offers for refunding and chargeback processing, merchants may handle chargeback cases. The technique is frequently used to guarantee that consumer-merchant contacts are handled fairly.
Account connection with online retailers and point-of-sale systems is the reason for UniPay's use. PayCEC, however, goes one step further by offering a flexible API connection with the opportunity for a bespoke connection, connecting to well-known industry titans like Shopify, WooCommerce, and Magento.
It also enables faster, safer, and easier global communication with the same effective payment gateway services that Unipay delivers for PayCEC. Whether you are a small, large, or medium business entity, PayCEC may assist you in making the correct payment, avoiding fraud, and making your clients happy. Some benefits of PayCEC are the ability to accept payment through multiple methods, faster processing ability, and better access to tracking methods to be successful in the ultra-modern business world.
If you need further assistance or answer, please don't hesitate to contact us.
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.