Due to the
COVID-19 pandemic, many customers are turning towards virtual stores to satisfy
their needs. So it’s important for you to establish a good online presence
& start accepting payments online. To ensure your customers’ payments will
be processed promptly and securely, you need a robust payment gateway UK.
What is Payment
Gateway & How its work?
Payment Gateway is
a key component of online payment processing, used by merchants to accept debit
or credit cards. This software is responsible for securely transferring credit
card details (encrypted) to the customer’s acquiring bank. Then, the payment processor
response back to gateway whether the transaction was approved or declined. If
the payment was authorized, the customer’s bank deposits the entire approved
funds into the merchant account.
Let’s discuss the
top reasons to use the payment gateway in your business.
●
Payment Gateway ensures faster
and secure transactions. It encrypts the payment information and transfers the
same to the acquiring bank. Also, the process of payment authorization takes a
few seconds, which means one can complete the transaction very quickly.
●
Setting up an online payment
gateway can be in-expensive if you find the right gateway provider that is
providing services at a reasonable cost. It helps you to conduct transactions
round the clock.
●
A great payment gateway makes the
online checkout experience fast, easy, and seamless, which ultimately helps you
make loyal customers for your brand.
So conduct your
research and get the best white label payment gateway solution to integrate into your business.
Now, let’s discuss
in brief, what is Payment Facilitator?
The payment facilitator
is a services provider that allows merchants to accept payment using their
infrastructure. This facilitator owns a master merchant processing account that
serves several sub-merchants under it. By taking services of Payment facilitator UK, merchants can skip
establishing a traditional merchant account.
Be careful &
choose the best services for your business to ensure success.
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