The function is Connecting your Web site to the payment processing networks is typically beyond the technical resources of most merchants. Instead, you can easily connect to the Payment Gateway, which provides the complex infrastructure and security necessary to ensure fast, reliable and secure transmission of transaction data. This is the most reasonable electronic payment solutions for your businesses.
The credit card payment processing solutions consists of two phases: authorization (determining whether payment information is valid and funds are available on the customer’s credit card) and settlement (the transfer of funds into the merchant’s account).
Authorization
Payment gateway routes the payment details to the credit card networks on behalf of the merchant, then returns the results—approved or declined.
Settlement/Funding
the settlement phase is sometimes referred to as funding. The customer’s credit card issuing bank sends the appropriate funds for the transaction to the merchant’s bank. The bank then deposits the funds into the merchant’s bank account, typically within two to four business days. This kind of payment solutions is safe and secure as long as you have the details and awareness.
