YAPORCAM
HOW INTERNET ACCEPT ONLINE PAYMENTS Macropay
PRODUCTS AND SERVICES ONLINE
Moment online installments encourage quicker exchanges and a higher volume of deals.Macropay It attracts not only users who love to shop online, but you can also increase your sales by approaching new customers beyond your local area.
Online payments include payments made using debit cards, credit cards, and bank transfers. Ideally, you need a solution that can process all such payment modes and has the lowest setup costs and transaction fees. Setup costs are those that are charged one time for setting up your account with the payment processing gateway.
STNEMYAP ENILNO
ONLINE PAYMENTS
In order to accept online payments, you need to have access to either a merchant account or register with a third party payment gateway system that has a merchant account registered with a bank. Let’s look into each of these options and find out more about them. PAYMENT GATEWAY
A merchant account is an understanding between your business and your bank that you are going to process online payments such as bank transfers, credit, and debit cards and that the payment will be directly credited to your account with them. The merchant account registration allows you to use a merchant ID and the bank’s payment processing gateway.
KNAB RUOY DNA SSENISUB
BUSINESS AND YOUR BANK
APPLICATION PROGRAMMING INTERFACE (API) bank will provide you the Application Programming Interface (API) which you can use to set up your own checkout page and then redirect the customers to the bank’s payment processing page when they are about to pay. Not all bank branches offer a merchant ID and you need to approach your bank and ask them if they can provide you with one.
Banks require you to complete a number of formalities before you can use a merchant account. Macropay also have a higher setup cost compared to thirds party payment gateways. For smaller businesses that do not expect a large volume of transactions or revenue, the setup costs can be prohibitively high. For them a merchant account is unsuitable.
NUOCCA TNAHCREM
MERCHANT ACCOUNT
VOLUME OF TRANSACTIONS SNOITCASNART FO EMULOV
On the other hand for businesses that expect a large volume of transactions and have higher revenue expectations, the lower operating costs or transaction fees are a lucrative option. Depending upon their break-even targets they can look to absorb the high setup costs over a period of time.
ONLINE PAYMENT PROCESSING The high setup costs of a merchant account bring us to the second option of third party payment gateways. Third-party payment gateways are online payment processing companies that have their own merchant accounts. Macropay they provide a set of integration codes or API which you can use to redirect a customer from your checkout page to their gateway for payment processing.
THE ADVANTAGE OF THESE THIRD-PARTY PAYMENT GATEWAYS IS THE LOW SETUP COSTS. AT TIMES THEY DO NOT EVEN CHARGE YOU ANYTHING FOR SETUP. HOWEVER, THEIR PROCESSING COSTS OR TRANSACTION CHARGES ARE HIGHER COMPARED TO WHAT A BANK WOULD CHARGE. FOR SMALLER BUSINESSES THAT DO NOT EXPECT A VERY HIGH VOLUME OF TRANSACTIONS OR REVENUE THE SMALLER SETUP COSTS ARE MORE SUITABLE.
M TWITTER
MEDIUM
https://twitter.com/Macropay https://medium.com/@macr opay0 1
INSTAGRAM https://www.instagram.co m/macropay0/