Types of Payment gateways channel based on the processor

Classification of Payment gateways

To run a online  business you have to decide to chose a payment systems or processor by which you will get your product selling money to your bank account through an instant, safe and easy channel and customer satisfaction. Basically most of the banks (across countries of the world) offer a merchant bank account to initiate, process and manage any business based on the local or international market. Based on the business types and figures , we should chose payment processor gateways services types. For your business, have to integrate credit card transactions for fast selling and getting money in retails or whole background.

Three major type payments gateways are available for running any kind of businesses (e.g local business , international basis, or online marketing etc )

• Online (Real time based ) Payment gate ways
• Credit cards terminal 
• Desktop payment gateways:

Online (Real time based ) Payment gateways:

To run an e-commerce store and manage its instance access able shopping cart which is connected an online Merchant Account or business account to process credit card payment in real time with help of secure internet connection is kown as Online (Real time based ) Payment gateways. With few easily but safe and sound payment process steps , transaction are made in online payment channel in very few seconds ( 10 to 20 seconds). 

Credit cards terminal :

Physical payment producer to buy and sell any product from your local business store or shop or any virtual store by using credit card’s transactions to a terminal or cards reader ( for Smartphone). The card is either swiped through the terminal or entered into the ‘chip and pin’ device before authorisation is providing by both the acquiring and merchant bank. Payment is generally received once the terminal is closed off for the day.

Desktop payment gateways:

Desktop payment gateways is run by using desktop pc to complete transactions, with help of a secure and fast accessing particular e commerce software. The merchant is able to enter the credit card information and payment amount into the software which is then forwarded to the financial institutions over the internet (although it does not have to be for an Internet Merchant Account). 

Know about the definition and function of payment gateways and in the next article, we will discuss about categories of online payment processor based on the hosting and services modules.

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