Online payments allow the money transaction to be carried out electronically. This process is held through the internet, digitally stored value system, and computer networks. Any form of payment received through the internet is regarded as an online payment.
Online payments are the process of directly transferring the funds from the bank account or credit card of the payer to the bank account of the merchant.
Anyone who is going to receive online payments must comply with a series of security measures. The vast majority of these measures are designed to protect personal information and billing from being stolen. All transactions must be held over an encrypted connection.
In recurring billing, in which the payer’s data is stored, you need to provide a series of security protocols, and these are referred to as PCI compliance requirements. In online payment procedures, where recurring billing systems exist, periodical scanning must be carried out to detect possible vulnerabilities.
A merchant must have access to a valid Online Payment Gateway to start accepting online payments from it’s clients.
Any service provider that handles all the required processes between the payer’s bank account or credit card, merchant’s bank account, and payment processor serve as an online payment gateway.
As a restaurant owner it is difficult for me to keep on top of everything, ever since I began working with Paymentap It has been much easier to manage the day to day running of the restaurant. Customer payments are transferred to my account the next day so I no longer need to track them which is a big relief.
Read MorePaymentap have provided me with the best card machines and discounts up to 40% which is very exciting, all without an extra service charge! A factor that is very important to me.
My internet connection was causing issues with my ability to serve my customers promptly and effectively, internet delays caused my customers to have to wait in a queue to connect to the card machine. After I started working with Paymentap I have been able to serve my customers within two seconds through their card machine. Also, I am now paying less for my energy bills and for my new terminal.
Read MoreOnline payment systems used on eCommerce platforms ensure electronic payment for online transactions. With the increasing trend in shopping through the internet and internet branches of banks, eCommerce online payment systems have become the preferred option.
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