Credit card processing is an important part of the financial sector of every online business that accepts card payments. But to perform this process, you need the help of merchant services. Some of the businesses don’t accept card transactions, so it won’t bother them that much. But those who provide services overseas, need essential merchant services and expert guidance. Don’t you worry! Even so, some agencies are available in the market to support high-risk businesses. EskayPay is one of those PSPs that can provide you with services that you need for UK Credit card processing. Merchant services will include payment gateway, payment processor, and merchant account.
Payment gateway
Payment gateway is a service for payment processing that is important for payment approval. It takes payment details from the website and sends them to the payment processor. Without a payment gateway, you cannot approve online payments from any website. It presents the payment page for the buyer so that the buyer can directly pay for the bills right away.
Payment processor
A payment processor handles online payment processing. It integrates with the website and processes the online payment that has been placed on the website. The payment processor allows the merchant to accept his payments in several payment modes. Without a payment processor, the process of online payment is impossible.
Merchant account
Merchant’s ID gets created on the payment processor. It handles the online payments and receives them digitally for the merchant. The need of the merchant is just to receive online payment with top-notch security and many facilities. A merchant account is specifically different from a normal bank account. In the end, the merchant bank settles the payment in the merchant account.
But to understand the whole scenario you need to continue reading.
Parties involved in the process
Client
The process starts when a client makes a purchase from a merchant’s website and uses any card to pay the bill. When the transaction is placed on the website, the payment gateway takes the details and sends them to the payment processor. Then payment processor processes the transaction.
Merchant
The merchant is the owner of that website from which he sells products and provides services. The merchant uses merchant services such as payment gateway and merchant account to receive the payment done by the customer. Apart from that these services also serve the merchant with so many amazing facilities.
Issuing bank
Issuing bank or you can call it customer’s bank. This bank issues the card of any credit card processing company to the client. When the transaction takes place and the details come to the issuing bank for verification. It verifies the details and pays the amount on the behalf of the merchant. Afterward, on the due date customer pays back the amount he used.
Acquiring bank
Acquiring bank or the business bank serves the merchant services to the merchant. Until the final settlement of the sales payment, it secures the amount in the business account/merchant account of the merchant. The merchant account helps the merchant to receive online payments.
Payment processor
The payment processor is one of the merchant services. It takes the responsibility of processing online transactions. This payment processor connects to several acquiring banks and completes the process in time. It is also responsible for notifying each of the members about transactions. So they all work in sync.
Card association
The card association is that group that regulates the guidelines for each of the cards issued to the customers. It takes the responsibility that every member involved in this process must follow the guidelines. Also, it takes care that the process should get completed on time.
WHY ONLY ESKAYPAY
We have multinational connections overseas with several businesses. Our team of experts helps the merchant any hour of the day a week. You can ask for any query related to our services. We have experience working with high-risk industries of more than 8 years. Since then our skills and technology upgraded with the need of clients. The financial sector of any company is the baseline that helps the business to run in any situation. If you fail to balance the stability, then you won’t be able to get the goals you’ve been living.
EskayPay cheers you up and says that everything’s going to be alright. Remark your goals and establish your own arena with our services, and support.
CONCLUSION
For best merchant services you can rely on EskayPay. We’ve provided our merchant services to High Risk Merchants. During these years we learned all techniques to reduce the chances of chargeback, payment failure, and many more. Once you will associate with us, you’ll get the best services with expert’s guidance. For our other services, you can read about them in our blog section. For any inquiry related to our services, you can contact us via the given details down below. Get your best ever results with our services.
Tags : Global Merchant Account, 2D Payment Gateway UK, Adult Toys Merchant Account, Multimedia Streaming Merchant Account, IPTV Payment Gateway, Credit Card Processing
An intriguing discussion is definitely worth comment. I do believe that you ought to write more on this subject, it may not be a taboo subject but typically folks don’t discuss these issues. To the next! Many thanks!!