Everything you need to know about credit and debit card payment gateway

With the rapid growth of ecommerce, consumers have gotten accustomed to online shopping. To complete an online transaction with a credit or debit card, shoppers usually have to go through a payment gateway. But is it really safe to checkout this way? What functions should an ecommerce credit and debit card payment gateway have to protect shoppers’ information? This article will tell you everything you need to know about credit card, debit card payment gateway.

Everything you need to know about credit and debit card payment gateway

Payment gateway is a mechanism that connects a customer's shopping cart to card schemes (payment processors) to clarify customer’s information. Therefore, connecting that customer’s bank account (the issuing bank) to the merchant’s bank (the acquiring bank).

To be more specific, let’s find out how a credit card debit card payment gateway works:

1.1. What is a credit card payment gateway?

An online credit card payment gateway helps their merchant with the capability of safely accepting payment online via credit card.

After a customer has finished selecting their want-to-buy items, the merchant website will take them to their checkout page. A page that will require them to fill out their credit card information, which includes their card details, CVV number. The data will then be encrypted and transferred to the card schemes (VISA, Mastercard, JCB, Discover, etcs.) through payment gateways. The card schemes will then identify the credit card brand and clarify the customer’s data. If all information is correct, the issuing bank will approve the transaction and send the money to the acquiring bank. The merchant will need a merchant account (provided by the payment gateway) to get the money into their bank account. You can contact PayCEC right away for the easiest way to set up your merchant account .

How payment gateway works

1.2. What is a debit card payment gateway?

Similar to a credit card payment gateway, a debit card payment gateway allows a merchant to securely accept online payments. It’s a transaction processing system, which communicates the customer’s debit card information, through the card schemes, to the merchant’s bank. An ecommerce debit card payment gateway is one of the easiest and fastest ways to complete an online shopping transaction.

2.1. The ability to accept online payments.

You need a payment gateway to be able to accept online payment from customers via credit and debit card safely. Paying by credit or debit card is one of the most common payment methods nowadays, you’ll need it to compete. It helps to diversify your customer’s means of payment, therefore increase your chances of being chosen by that customer.

According to recent research, credit and debit cards are used the most for ecommerce transactions in America. That says a lot because the US is the biggest ecommerce market in the world. Its percentage gap compared to the use of cash and other means of payment keeps increasing every year. Proving that payment gateway for debit card and credit card is the future of online payment.

Ecommerce payment method trends in the US 2019 report by J.P. Morgan

2.2. The improvement of security for your website.

You also need a payment gateway to enhance security while accepting your customers’ credit and debit card payments. The payment gateway makes sure transaction data is securely transferred from the customer to the merchant, protecting all parties involved.

2.3. The option to customize your checkout page.

Payment gateway helps increase a merchant’s credibility and image by giving off a secure and professional vibe to your website. Some service providers even offer a variety of ways to design your unique checkout page. Customizing your payment page will show off all the signatures of your business and help attract more customers.

Design your own checkout page

2.4. The simple, convenient, and user-friendly interface.

On top of that, it’s easy to use and incredibly convenient, making a transaction happen in just a few clicks. With just a few seconds, a customer can complete their order and the merchant can receive the profit right away. Setting up for a payment gateway and creating your merchant account are also pieces of cake. Simply contact our PayCEC technical support team and you are good to go.

As good as it gets, there’re still some defects that payment gateway service providers need to strengthen in the future:

3.1. It might not be able to accept all of the credit and debit cards there are.

Depending on the payment gateway service providers, some payment gateways can accept more card companies than the others. For example: PayCEC payment gateway can accept up to 5 card companies (VISA, Mastercard, American Express, Discover, and JCB). While other payment gateway providers only accept 3 or 4 types of card.

Some card brands might not be compatible with your payment gateway

3.2. Some countries might require particular payment gateway services.

Although online shopping is a cross-border concept, some countries have more restricted rules and regulations than the rest. Take China for example, their rules and regulations require a particular payment gateway service for ecommerce websites in China. So if you want to do business with the Chineses, you often have to use their internal payment gateway. For instance: the Alipay ecommerce credit card payment gateway would be a good match for China targeted merchants. Keep in mind that if you’re a foreign business, it might cost you extra for a Chinese merchant account.

Depending on the countries where your audience is, you should do some research and choose a suitable service provider. An international credit card payment gateway might be a perfect fit if you want to do business in multiple countries. Contact PayCEC for more detailed information about the most suitable gateway in your country.

3.3. Some payment gateways might have security issues.

If a credit or debit card payment gateway is not properly secured and managed, you might come across some hiccups:

• Data breaches: The most common safety problem is data breaches. With a poor data encryption system, your customers’ data and card information can wind up in the wrong hands. To prevent this you have to choose a payment gateway that is fully secured and equipped with high-security technology.

Some payment gateways might have security breaches

• Unauthorized transactions: This one is less popular but still can happen once in a while. With the old technology, like the 2D Secure System, the risks might become higher for customers. To complete a purchase, a customer only has to enter their card number and CVV code. There will be no OTP (one time password) sent to their device to verify the card owner. So in case you misplace or lose your card, unauthorized transactions can easily be made without your knowledge.

4.1. Payment Card Industry Data Security Standard (PCI DSS).

The PCI DSS compliance is a mandatory requirement for all merchants that want to store, process, or transmit card information. It’s a set of standards created to reduce credit card fraud administered by the Payment Card Industry Security Standards Council. The founders of this council are VISA, Mastercard, American Express, Discover Financial Services, and JCB International.

Getting PCI DSS compliance is extremely important yet difficult. The credit card payment gateway providers have to constantly detect flaws and maintain a secure system. The PCI Security Standards Council will annually check if the service provider still meets all of their requirements. By continuously being checked by the council, the gateway provider can be assured to have the most updated security system.

4.2. 3D Secure Transaction.

The 3D Secure protocol helps verify the card’s owner identity before completing a purchase, making sure the transaction is authorized. By using an OTP (one time password), the protocol confirms the user’s accessibility and protects customers against identity theft. Visit our PayCEC website to know more details on the difference between 2D and 3D payment gateway .

3D Secure protocol provides an OTP to protect your transaction

4.3. Tokenization.

With this technology, the card owner’s sensitive information will be encrypted and stored as a token. Which is a unique identifier and cannot be traced back by any human or machine. And hence making the customer’s card number and information completely safe to the open network.

4.4. Real-time Risk Management.

The Real-time Risk Management system works continuously to detect fraud and fixes those flaws as soon as they happen. It helps merchants stay aware and get updates of the latest bug in the system. Simultaneously alerts the service provider technical team to address the issue instantly. At PayCEC , our team always works 24/7/365 to support merchants with every single possible problem in the system.

4.5. Biometric Authentication.

Biometric Authentication is an extra layer of security invented to help verify a customer’s identity in person. Each person’s biological characteristics are unique and can be used to confirm their identity. The biometric identifiers usually use one’s fingerprints, voice, iris, and other facial features to recognize a person.

Biometric authentication like fingerprint scanner helps enhance your security

The charges for debit card and credit card payment gateway can vary depending on your needs and requirements. The payment gateway pricing usually consists of:

5.1. Setup fee:

This fee includes two services: Firstly, consult and set up your merchant account. Secondly, integrate the payment gateway into your company website, and get your business to accept online payments. Some credit card payment gateway providers might charge highly for this fee, but at PayCEC we do it for free.

5.2. Maintenance fee:

An account management fee is required monthly to keep your gateway properly functioning. The fee often comes with a 24/7 technical team to continuously monitor and help you with any technical issues.

The charges for payment gateway vary depend on your needs and service providers

5.3. Processing fee:

This fee will be charged with every transaction, often charged by a percentage of the purchase value plus a fixed cost. The fee is different with all debit card and credit card payment gateway providers.

5.4. International payments fee:

For cross-border transactions, there might be an additional fee for using international cards and currency conversions. This fee is charged with every international payment, combining a fixed cost and a percentage of the total purchase value.

These fees can change from time to time, and with each different payment gateway service provider. For an example of credit card payment gateway charges and payment gateway charges for debit card, contact us at PayCEC.

There are many credit card, debit card payment gateway processors nowadays. Let’s explore some examples of the popular card schemes:

6.1. VISA: Using Verified By Visa as its key signature to verify and protect users’ identities from virtual fraud.

6.2. Mastercard: This service provider’s security system is used by many and called the Mastercard SecureCode.

6.3. American Express: Amex uses American Express SafeKey as its defense against internet thieves and online hackers.

6.4. Discover: Discover ProtectBuy, like its name, protects buyers and sellers from data breaches and identity stealers.

6.5. JCB: The JCB J/Secure helps to safeguard its users information and data, creating a user-friendly environment.

Popular credit and debit card payment gateway processors

The best credit card payment gateway is more of a subjective opinion than a fact. A payment gateway that meets all of your needs and requirements is the best one for you. When choosing a payment gateway service provider, you should take these things into account:

• A payment gateway that has a high-security level, especially one that has PCI DSS compliance.
• A gateway that is compatible with many card companies (the most reputed ones are VISA, Mastercard, Amex, JCB, and Discover).
• An international credit card payment gateway if you want to do business in foreign countries. Remember to confirm with your service provider whether the payment gateway is available and popular in your targeted countries.
• And one that can make your checkout page stand out from other competitors. A unique and user-friendly design for your payment page can be a big advantage to take off your business.

Take PayCEC into consideration , for we have all of the above features and even more so.

Read more:

• Discover Payment Gateway
• JCB Payment Gateway
• Visa Card payment gateway
• Mastercard payment gateway
• American Express (Amex) payment gateway
• What is difference between 2D and 3D payment gateway?
• 4 types of payment gateway - Advantages and disadvantages

About PayCEC

PayCEC was established in response to the growing need of businesses to accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.

PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their business accounts in various currencies.

We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.

PayCEC team

• [email protected]
• +44 2032 864370
• www.paycec.com