You will never lose a single nickel

By knowing how money moves, you will understand all the intricacies of transaction processing. A lot has changed since Sting’s CD was sold online in 1994, the first online transaction. A large number of e-commerce companies these days have moved to mobile devices, which include tablets, laptops and other types of smart devices.

It should be safe and convenient for the customer, as if it were paying in cash, all you need is internet access and a payment card. Taking advantage of this, several billion people have been given the opportunity to sell or buy a product or service all over the world, no matter where they are.

Before the first order is placed

Your first step as a marketer is to create an online store or membership-based website that allows you to communicate and offer goods or services to customers around the world. To receive funds from your consumers, you will need an active merchant account with the receiving bank. Connect your eCommerce store with your chosen bank by configuring a payment gateway that ensures the transfer of information and secures the flow of money.

After clicking the BUY button

Immediately after you select your favorite item or service in the online store, the payment gateway collects the data necessary to carry out the transaction entered by the buyer, processes it and passes it on to the Acquiring Bank (Merchant’s bank) for further processing. After placing the order, the payment request from the merchant’s bank was passed exclusively through specialized channels to the buyer’s bank, which will verify the request depending on the available funds.

If the transaction is approved, the bank transmits the authorization code to the merchant’s bank through card network channels. The merchant’s bank receives the response from the cardholder’s bank and forwards it to the merchant via the payment gateway. If the transaction is approved, the funds transfer must be completed successfully. If the transaction is rejected – the order is also rejected. The user is informed by the merchant about a successful purchase (by electronic invoice) or rejection of the transaction. At the same time, the user receives information from his bank about the success/failure of the transaction.

ThePayPortal solution

We offer a complete package of services for your eCommerce: Merchant Onboarding, Risk Management and payment gateway solutions. Start processing payments online with our payment gateway that acts as a virtual POS terminal. Since the receiving bank monitors all transactions, billing and refund issues can damage the credibility of your business and even lead to the termination of your merchant account. Using methods that reduce the risk of fraud and chargebacks, ThePayPortal protects the Merchant Account from termination. Make us a partner you can rely on.