Speed Sending cash or cheques by post for goods is slow, and has security and currency conversion implications.
|
|
- Brian Lambert
- 7 years ago
- Views:
Transcription
1 Increasingly, customers expect to be able to pay online not just place orders. Investing in an electronic payment system makes sound business sense for many companies. WHAT ARE ELECTRONIC PAYMENTS? A website that is enabled to accept electronic payments, particularly credit and debit card payments, offers convenience to customers and streamlines the purchasing cycle. But helping your customer to pay isn t everything your website needs to be user-friendly and easy to navigate if you expect your customers to make it to the checkout. The following pages give you a good, brief introduction to electronic payment systems and how to implement one. If, after reading them, you want more detail on web payments, visit THE BENEFITS Enabling online browsers to purchase conveniently, electronic payments could turn them into online shoppers. UK consumers now spend over 1 billion online a month (IMRG, 2002). WHAT ARE ELECTRONIC PAYMENTS? 1 THE BENEFITS 1 DECIDING TO USE AN ONLINE PAYMENT SYSTEM 2 E-PAYMENT METHODS 3 SECURE ELECTRONIC PAYMENT SYSTEMS 7 PREPARING FOR AN ELECTRONIC PAYMENT SYSTEM 9 IMPLEMENTATION CHECKLIST 10 FURTHER HELP AND ADVICE 13 Speed Sending cash or cheques by post for goods is slow, and has security and currency conversion implications. Convenience Electronic payments ensure that your store is open for business globally, 24-hours a day, seven days a week. Efficiency Electronic payment systems leave behind an electronic documented audit trail, streamlining your auditing and accountancy processes. Bank wires are cumbersome and expensive. Accepting payments online streamlines the buying cycle. By making your order, stock, purchase, payment and dispatch processes electronic, from website to back office, you don t have to re-key order data. Examples of products and companies included in this leaflet do not in any way imply endorsement or recommendation by DTI. Bear in mind that prices quoted are indicative at the time it was published. 1
2 Shopping site software can be easily integrated with popular back office packages, such as Sage, to automate ordering, stock control, invoicing and accounting systems. Reduced costs Accepting online payments means that many banking processes become automatic. Increased customer base Online payments take advantage of impulse buyers. 95 per cent of electronic purchases are by credit card. If your website doesn t offer payment by credit cards as an option, you could lose out on this market. DECIDING TO USE AN ELECTRONIC PAYMENT SYSTEM Before implementing an electronic payment system, there are various issues you need to consider. Will electronic payments increase your profits? What about the added expense of accepting payments online? Many smaller businesses simply download online orders in batches, process them offline and dispatch the goods. It may still be possible to keep data in an electronic format throughout the purchasing cycle, either by linking the website s back-end system to the back office ordering system or by having both systems linked to a database. See our factsheet on Integrating back office systems for more information on this ( When considering costs, the volume of online business you do will determine how good a deal you get with regard to bank processing and credit card authorisation charges. Do your sums: will any investment in hardware, software and training, or the charges you need to pay per transaction for outsourced processing, be offset by an increase in profit? Will you need to set a minimum price for credit card transactions to safeguard your revenues? Many online shopping sites pass on these charges to the cost of product or delivery charges, but if you do this, will your goods remain competitively priced? Are you ready to handle electronic payments? Estimate how many transactions may be channelled through your website. What percentage of sales come via your website and will this increase by offering electronic payments? Will you be able to fulfill the additional orders? 2
3 Is your website ready for electronic payment processing? Links may need to be made from your shopping cart software to a third party transaction processor or a Payment Service Provider (PSP) which, assuming that you have a professionally designed website, typically requires only simple programming. Get advice from a Business Link adviser (or the equivalent in Scotland, Wales or Northern Ireland) on whether your website is ready for handling electronic payments. Even the data from automated, outsourced systems needs to be analysed and checked over. Do you have the staff and expertise to oversee the system? Your customers will hold you responsible for the security of their data. Are you ready for that responsibility? E-PAYMENT METHODS There are several approaches to taking electronic payments. Some of them can co-exist with others and some are mutually exclusive. In this section we look at: Traditional card payments Mail order Online payments Payment bureaux Secure order forms BACS Alternative payment options Traditional card payments You can accept cards online by processing it as a card not present transaction where the card owner isn t there to sign the slip. There are three main aspects to a traditional card payment: Merchant service this is the generic term for the service provided by banks that allows you to swipe credit and debit cards at your place of business. 3
4 PDQ machine a generic term for the machine that is used to swipe a credit or debit card. They can be rented for about per month with a 125 start-up fee. Acquiring bank once you have swiped the card, the customer s details are passed to an acquiring bank for processing. The acquiring bank checks the details of the card and authorises the transaction. The acquiring bank is the bank that provides your merchant service. Mail order Mail order payments involve more risks for banks and financial institutions, so acquiring banks usually ask for more commission per transaction (perhaps 3.1% instead of 2.79%) and a more detailed agreement on the fraud checks you use. If you already have an offline service it s best to negotiate with your bank to avoid paying another set-up charge. Online payments To take online electronic payments you need to get a specific Internet Merchant Service and also a Payment Service Provider to collect the card details over the internet. Obtaining an Internet Merchant Service from an Acquiring Bank is quicker and easier if you already have offline card processing facilities set up with the bank. Banks can be very cautious about setting up these internet merchant accounts, especially for new businesses without a trading history. If you have no prior card processing the bank will carry out a thorough credit check (lasting anything up to eight weeks). The main high street banks will give approved businesses quotes, typically between 2-3 per cent. A Payment Service Provider (PSP) is a virtual PDQ swipe card machine that collects the card details over the internet and passes them to the acquiring bank. If you want to take electronic payments over the web then you will need a PSP and this has a small transaction cost associated with it. Some acquiring banks offer PSP services as part of their product and there are other less expensive options available on the market. PSPs generally charge: an initial set up fee of about 50 an annual fee of about 150 (which might include processing 2 or 3 different currencies) 4
5 a % charge for every credit card transaction and a fee of 20-25p for every debit card transaction, plus an additional fee for every currency being processed. Payment bureaux A payment bureau such as WorldPay or Netbanx is a one-stop solution collecting and processing the card details on behalf of the business without requiring an Internet Merchant Service with an Acquiring Bank or a separate PSP to be set up. As a result of their simple application process, bureau services are a popular choice for electronic payments and a good solution for a smaller business s first step into e-commerce. Advantages These services will accept most types of business. Trading record or length of trading will not usually be an issue. Fast turnaround for applications can take as little as a few working days compared to weeks for new merchant acquiring applications. Disadvantages Merchants funds are held for minimum of 30 days and up to 60 days. Transaction charges are higher, in the range of 4-8%. Secure order forms An order form is a simple page on your site that the customer fills in with their details and the details of the goods they want to buy. There is no automation and the fields in the forms are sent to you as an and do not use a PSP. This is a very basic method of taking orders through your online catalogue and can be very labour intensive. A slightly more advanced option is available by using a shopping cart software product as most carts have the ability to either store credit card numbers securely so you can view them over the internet or send them securely over using a secure server. Advantages Secure forms require a minimal outlay. No need to pay for a Payment Service Provider facility. No need for an extra internet merchant number for online transactions. 5
6 Merchants can manually screen orders. Site superficially appears to be fully credit/debit card enabled. Disadvantages Secure forms struggle to accommodate wide product offerings. Violates some acquiring banks terms and conditions. There is no real-time authorisation of card details. Transactions are processed manually. BACS This is a payment method that is ideally suited to business-tobusiness (b2b) transactions with regular or repeat customers. BACS payments are usually processed as batches using dedicated software linked in with the bank s system. As the BACS process is electronic, it removes the need to write cheques, which can be a costly process, subject to human error. Payments can be made much later in a business day, up to 9pm and are cleared within two business days to any bank account. The method is a suitable payment method for customers who are making more than 150 monthly payments and is already used to pay over 70% of salaries of the UK workforce. Alternative payment options Other ways of taking payments online can work as a first step to enabling payments on your website or allowing payments from customers without credit cards. Person-to-person an entry-level payment solution where consumers set up an account using their bank account details which is then debited by eligible merchants. Mobile commerce allows a sale that has been conducted over the internet to be confirmed by sending an SMS to the customer s mobile phone. Pre-paid cash card these cards can be charged up and then used at participating websites and high street stores. Useful for small transaction amounts (even down to a few pence) where the credit card transaction charges might make the sale. 6
7 Micro-billing these offer a premium telephone number billing service that is essentially pay-per-view internet content hosted in a private area of the web. Customers pay for this content via their Internet Service Provider (ISP) or their phone bill. How to choose the right method If you need more details about any of these methods, refer to the e-payment methods section of the electronic payments website available from Evaluate which system is right for your business. Do you want to offer payment by credit card? Set up a manual system? Invest in software? A lot will depend on the type of business you run, the volume of customers and type and value of goods you sell. To compare the varying costs of electronic payment solutions available from the different service providers, use the selfservice tool at Consider how your system will integrate with the rest of your business, such as accounting, stocks and order processing. Take a look at our factsheet on Integrating back office systems for more information. SECURE ELECTRONIC PAYMENT SYSTEMS Keeping your payment details secure Most electronic payment systems encrypt customer information and card details. Encryption scrambles the information so it can't be read when it travels over the internet and offering your customers this option will make them more likely to buy. Look closely into the security of your set-up and that of your bank or PSP. Guard against fraud and protect legitimate customers by keeping the transaction, funds and personal details of customers secure. Under current legislation it is the merchant who bears the cost of fraudulent transactions, being obliged to refund the purchase price (chargeback) as well as losing out on the value of the goods. If a customer disputes ordering or receiving the goods, or if the card is a stolen one, the payment is automatically debited from your account. Many banks and PSPs allow you to pay your way out of this problem by carrying any chargebacks for a fixed monthly fee of around 20 and an additional transaction fee, usually 1 per cent. Examples include: MasterCard s SecureCode or Verified by Visa. 7
8 A high percentage of fraud occurs when hackers get access to insecure merchant data being held on insecure servers. Leaving the processing in the hands of the PSPs means that you don t need to hold the credit card data or get involved in anti-fraud or data protection issues. Use secure links and servers Use SSL (Secure Sockets Layer protocol) encryption when transmitting data. A closed padlock sign at the bottom of the screen shows that details are protected when being sent. Only store credit card data on a secure server. Remember that encryption and other security measures cannot prevent unreported stolen cards being used in transactions. Be vigilant. Check credit card addresses Some PSPs also use an AVS (Address Verification Service) that checks the address of the cardholder against the billing address. Many can only offer this service in their home country while international operators charge a small fee, typically six pence per transaction, to check international addresses. Alternatively, visit an online electoral roll website and check delivery addresses with the names on customer orders. A free web-based service called Early Warning ( lists known credit card fraudsters. Some PSPs can also look for patterns in the way purchases are made. The more transactions that are stored, the more data the system has to analyse and the smarter it gets. or IP addresses that look suspicious can be blocked when using these smart systems. Check the content of the orders Beware of users placing orders with free addresses such as yahoo or hotmail. It is very easy and completely anonymous for potential fraudsters to use these free webbased services. Certain countries have a higher percentage of fraud risk and may be considered suspect. 8
9 Recognise the way your average customer does business, the size of transactions made and how much information is provided so you will become familiar with purchasing patterns. Orders for large quantities of easily saleable electronic goods, for example, should ring alarm bells. For more information on all these topics, visit the Security section of our website at PREPARING FOR AN ELECTRONIC PAYMENT SYSTEM To implement an electronic payment system you will need: an account with an established Internet Service Provider, ideally a broadband service a working domain name such as a professional, dynamic website (written in a scripting language such as ASP, ColdFusion or PHP, JSP) an online database or some means of storing product and order information an online form or a shopping cart package to capture credit card information an internet merchant account to accept payments, a secure server and secure links to your bank or a PSP to handle transactions. You will also need to prepare your website. Make sure your website works well enough to justify adding further facilities. If not, consider upgrading first online shoppers are notoriously fickle. If a web page takes too long to download or a click doesn t deliver a fast enough response, they ll be off to a rival site. Visit other online stores to see how the most efficient sites and checkout systems work. It should be easy to navigate forward and back through the purchasing process. Make sure your site is bang up-to-date with inventory listings and that your stock checking, sales processing and delivery options are effective. 9
10 Customers are impatient. Consider one-time sign-in services such as.net s Passport. This enables customers to create a digital ID certificate (rather like an online passport) that both authenticates and authorises its owner to enter Passport-enabled sites without re-keying personal information. These services can also allow customers to create an online wallet that stores billing and shipping information and could, potentially, handle payments. Make sure that final invoices and delivery details are clearly displayed and that the customer receives copies. Provide as many channels as possible for customers to contact you if necessary, including a phone number (not a mobile) and a postal address (not a PO Box) for customers this helps develop trust. Make sure your terms and conditions for accepting electronic payments are legally watertight, comprehensible and prominently displayed. IMPLEMENTATION CHECKLIST Research & analyse Set targets Set goals for electronic payment systems, such as increasing profits, reducing costs or growing the customer base and agree specific, measurable objectives for what you want to achieve, such as: increased profits reduced costs due to banking processes becoming automatic speeding up payment for goods greater productivity from staff due to streamlining of buying cycle and audit and accountancy processes increased customer base. Cost benefit analysis Establish the costs of electronic payment systems, including website upgrading (as applicable), software, bank charges, staff training and maintenance. 10
11 Compare these with the benefits, including faster payments, increased efficiency, reduced operational costs, increased customer base and streamlined audit and accountancy processes. Evaluate options There are several approaches to taking electronic payments, some of them can co-exist with others and some are mutually exclusive. The options are: traditional card payments mail order online payments payment bureaux secure order forms BACs alternative payment options. Evaluation criteria Do you want to set up a manual or an automatic system? Offer payment by credit card? Invest in software? How quickly do you want to set up your solution? What is required of your trading record? For example, banks have higher requirements. Cost use the self-service comparative tool on our electronic payments website available at How will your system integrate with the rest of your business, such as accounting, stocks and order processing? 11
12 Consult Professional advice If you lack the skills in-house, contact a Business Link adviser (or equivalent if you are in Scotland, Wales or Northern Ireland), in the first instance, for help on how best to: outline your requirements establish how much you can afford to pay scope the project advise on implementation provide training and software support. Talk to your trading partners Find out whether they use electronic payment systems and the pros and cons of the ones they use. Plan & test Plan the roll-out phase Does your website need upgrading before you implement your electronic payment system? Look at training implications what will the cost be? Decide which staff will require training and allow time for them to adjust to the new system. Act Implement electronic payments Rollout any necessary training. Encourage staff involvement and feedback. This will help smooth implementation, as staff buy-in can make or break a technology project. Consider setting up a cross-departmental taskforce to manage the implementation process it will help with staff buy-in and ensure that implementation works company-wide. 12
13 Evaluate Monitor and review the impact on your business and against your objectives. Get feedback from staff, customers and suppliers on the changes. Evaluate the impact after 6 months and 1 year. Have you achieved your objectives? Establish how you could improve things further. FURTHER HELP AND ADVICE For more detailed information on electronic payments, including an assessment of your options and a tool for costing the alternatives, visit the Scottish Enterprise site dedicated to the subject of web payments. Other general information UK trade association of banks and building societies. website for the SET Specification an open technical standard for the commerce industry developed by Visa and MasterCard as a way to facilitate secure payment card transactions over the internet. Payments bureaux Acquiring payment service providers 13
14 Person-to-person Merchant account providers MasterCard Visa Lloyds TSB Ci-Card Pre-paid e-cash card provider Splash plastic card Personal Payments e-cash card DTI is not responsible for the content of external websites and inclusion in, or exclusion from, the above list does not imply recommendation, endorsement or otherwise of any company, product or service. Remember that technologies and markets change rapidly so it is always wise to undertake your own independent research. For more information on Achieving best practice in your business: Visit our website at Call us on to order from our range of free best practice publications or visit Contact your local Business Link adviser by visiting the website at or calling Published by the Department of Trade and Industry. Crown Copyright. URN 04/649; 04/04 14
Resource 3.9. A Guide to Online Payment Facilities
A Guide to Online Payment Facilities Resource 3.9 Online consumers expect a high level of service and a seamless shopping experience when they purchase goods and services over the Internet. One of the
More informationHow To Accept A Credit Card Online
Online and Electronic Payments What are electronic payments? Online electronic payments are transactions which take place through web based electronic methods as opposed to traditional methods such as
More informationAccepting Ecommerce Payments & Taking Online Transactions
Accepting Ecommerce Payments & Taking Online Transactions Accepting credit and debit cards is mandatory for Ecommerce websites. This method is fast and efficient for you and your customers and with the
More informationOnline Payment Processing What You Need to Know. PayPal Business Guide
Online Payment Processing What You Need to Know PayPal Business Guide PayPal Business Guide Online Payment Processing 2006 PayPal, Inc. All rights reserved. PayPal, Payflow, and the PayPal logo are registered
More informationELECTRONIC SIGNATURES FACTSHEET
ELECTRONIC SIGNATURES FACTSHEET Electronic signatures mean that you can exchange information with others electronically and securely safe in the knowledge that everyone is who they claim to be and that
More informationIncrease revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus.
Increase revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus. eselectplus makes payment simple for you, and for your customers. eselectplus is an easy-to-use,
More informationCredit card: permits consumers to purchase items while deferring payment
General Payment Systems Cash: portable, no authentication, instant purchasing power, allows for micropayments, no transaction fee for using it, anonymous But Easily stolen, no float time, can t easily
More informationA: This will depend on a number of factors. Things to consider and discuss with a member of our ANZ Merchant Services team are:
1 ANZ egate FAQ s Contents Section 1 General information: page 1 Section 2 Technical information for ANZ egate Merchants: page 5 November 2010 Section 1 General information Q: What is ANZ egate? A: ANZ
More informationYahoo! Merchant Solutions. Order Processing Guide
Yahoo! Merchant Solutions Order Processing Guide Credit Card Processing How It Works The following charts provide an overview of how online credit card processing works. Credit Card processing for Yahoo!
More informationOnline Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/)
Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/) The following glossary represents definitions for commonly-used terms in online payment processing. Address
More informationOffice Relocation Planner Guide to Credit Card Processing
Office Relocation Planner Guide to Credit Card Processing Introduction The world of merchant services can be confusing, especially for businesses who have never accepted credit cards for payment before.
More informationBUSINESS GUIDE. Online Payment Processing. What You Need to Know
Online Payment Processing What You Need to Know CONTENTS + Introduction 3 + Online Payment Processing Basics 4 + The Payment Processing Network 4 + How Payment Processing Works 5 + What You Should Know
More informationA guide for accepting online payments for Hertfordshire emarketplace Providers
A guide for accepting online payments for Hertfordshire emarketplace Providers CONTENTS Background... 3 Accepting online payments... 3 Online payment terminology... 3 Acquirers... 3 Internet merchant accounts
More informationElectronic Commerce and E-wallet
International Journal of Recent Research and Review, Vol. I, March 2012 Electronic Commerce and E-wallet Abhay Upadhayaya Department of ABST,University of Rajasthan,Jaipur, India Email: abhayu@rediffmail.com
More informationOnline Payment Process. Name Kathleen Kaye Acosta Nr. 230431 Course E-Business Technologies SS2008 Professor Dr. Eduard Heindl
Online Payment Process Name Kathleen Kaye Acosta Nr. 230431 Course E-Business Technologies SS2008 Professor Dr. Eduard Heindl Declaration This is to certify that this term paper has been written by me.
More informationPayLeap Guide. One Stop
PayLeap Guide One Stop PayLeap does it all. Take payments in person? Check. Payments over the phone or by mail? Check. Payments from mobile devices? Of course. Online payments? No problem. In addition
More informationFrequently Asked Questions
Frequently Asked Questions INTRODUCING MASTERPASS WHAT IS MASTERPASS? WHAT ARE THE BENEFITS OF MASTERPASS? WHAT IS THE CUSTOMER EXPERIENCE WHEN MY CONSUMER CLICKS ON BUY WITH MASTERPASS? CAN MY CUSTOMERS
More informationCredit Card Processing Buyer's Guide By the purchasing experts at BuyerZone
Introduction When Western Union first gave charge cards to their best customers in 1914, no one would have guessed that over $2.56 trillion would be charged in the U.S. alone in 2008. As ubiquitous as
More informationChoosing the Right Payment Solution
Choosing the Right Payment Solution Contact: sales@internetsecure.com 905-469-6522 x4 1-800-297-9482 x4 Contents Executive Summary... 1 Choosing the Right Payment Solution for Your Business... 1 Questions
More informationE-Commerce Applications E-payment
Ecommerce Applications 2009/10 E-Commerce Applications E-payment Session 3 1 Overview Payment process Credit card payment online Payment systems Risks and challenges Chargeback Internet fraud Session 3
More informationOrder Processing Guide
Yahoo! Merchant Solutions Order Processing Guide Version 1.0 PROCESSING CREDIT CARD ORDERS 1 PROCESSING CREDIT CARD ORDERS Contents Note: If your store already has online credit card processing set up,
More informationGUIDE TO SELLING ONLINE
GUIDE TO SELLING ONLINE Covers the various payment solutions for your e-commerce website and how to set them up 2 April 2012 Version 1.0 Contents Contents 2 Introduction 3 Skill Level 3 Considerations
More informationTechnical Analysis Document
Technical Architecture Technical Analysis Document The table below shows the various possibilities that sonic sounds have to host their e-commerce site on. The hosting type is described and then advantages
More informationE-Commerce Applications E-payment
E-Commerce Applications E-payment Session 3 1 Overview Payment process Credit card payment online Payment systems Risks and challenges Chargeback Internet fraud Session 3 2 E-commerce overview Buying and
More informationBusiness Link Presentation E-Commerce Payment Processors. 25 January 2010
Business Link Presentation E-Commerce Payment Processors 25 January 2010 Payment Processors Update Overview of Xanthos PCI Compliance 3d secure Payment Processors Xanthos -7 Key Benefits Performance: an
More informationThe Comprehensive, Yet Concise Guide to Credit Card Processing
The Comprehensive, Yet Concise Guide to Credit Card Processing Written by David Rodwell CreditCardProcessing.net Terms of Use This ebook was created to provide educational information regarding payment
More information... What is USAePay? How does USAePay work? The Basics. Recurring Billing. Developer s Center
What is USAePay? USAePay is an ECI Certified, Real-Time, Credit Card Processing Gateway Secure, Fast and Reliable, the USAePay Gateway is a vital solution to helping your merchants process Credit Card
More informationCREDIT CARD PROCESSING GLOSSARY OF TERMS
CREDIT CARD PROCESSING GLOSSARY OF TERMS 3DES A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES.
More informationCRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb
CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb Topic Page Chart of Accounts 3 Creating a Batch Manually 8 Closing a Batch Manually 11 Cancellation Fees 17 Check Refunds 19
More informationHow to complete the Secure Internet Site Declaration (SISD) form
1 How to complete the Secure Internet Site Declaration (SISD) form The following instructions are designed to assist you in completing the SISD form that forms part of your Merchant application. Once completed,
More informationCNET Builder.com - Business - Charge It! How to Process Online Credit Card Transactions Page 1 of 10
CNET Builder.com - Business - Charge It! How to Process Online Credit Card Transactions Page 1 of 10 Kevin Hakman and Uwe Druckenmueller (4/6/00) Point, click, buy. Pack, ship, get the money. You want
More informationCost-management strategies. Your guide to accepting card payments cost-effectively
Cost-management strategies Your guide to accepting card payments cost-effectively Table of Contents Guidance from Wells Fargo Merchant Services...3 The secret to better interchange rates...4 Why interchange
More informationAn access number, dialed by a modem, that lets a computer communicate with an Internet Service Provider (ISP) or some other service provider.
TERM DEFINITION Access Number Account Number Acquirer Acquiring Bank Acquiring Processor Address Verification Service (AVS) Association Authorization Authorization Center Authorization Fee Automated Clearing
More informationN-CAP Users Guide Everything You Need to Know About Using the Internet! How Electronic Payment Works
N-CAP Users Guide Everything You Need to Know About Using the Internet! How Electronic Payment Works How Electronic Payment Works By Jennifer Hord When it comes to payment options, nothing is more convenient
More informationMerchant Account Glossary of Terms
Merchant Account Glossary of Terms From offshore merchant accounts to the truth behind free merchant accounts, get answers to some of the most common and frequently asked questions. If you cannot find
More informationOnline Trading How to establish a successful online business. David Lakins http://www.keymultimedia.co.uk
Online Trading How to establish a successful online business David Lakins http://www.keymultimedia.co.uk About Key Multimedia Founded in 2007 Based in Poundbury, Dorchester, Dorset 20% website development
More informationSwedbank Payment Portal Implementation Overview
Swedbank Payment Portal Implementation Overview Product: Hosted Pages Region: Baltics September 2015 Version 1.0 Contents 1. Introduction 1 1.1. Audience 1 1.2. Hosted Page Service Features 1 1.3. Key
More informationElectronic Commerce. Chapter Overview
Electronic Commerce Chapter Overview This chapter presents an overview of how e-commerce works, from the perspective of the organization and the customer. Businesses and individuals use e-commerce to reduce
More informationMerchant Business Solutions. Protecting business against credit card fraud.
Merchant Business Solutions. Protecting business against credit card fraud. Version 4.0 May 2011 Contents Protect your business 3 Authorisation 4 Chargebacks 5 Verification of Purchaser 6 Types of goods
More informationProcessing credit card payments over the internet. The business of getting paid.
Processing credit card payments over the internet. The business of getting paid. X Tap into the vast potential of the Internet today with WIPS Plus. The internet is a huge opportunity for businesses large
More informationGo Digital Kuranda Workshop Manual
Go Digital Kuranda Workshop Manual Topic 5 Ecommerce Session 2 Get Set! Ecommerce in Depth 1 Topic 4 Ecommerce Session 1 Get Ready! Ecommerce Basics Session 2 Get Set! Ecommerce in Depth Session 3 Get
More informationEMP's vision is to be the leading electronic payments processing company in the emerging markets of Africa and the Middle East.
EMP's vision is to be the leading electronic payments processing company in the emerging markets of Africa and the Middle East. EMP's mission is to be at the forefront of the region's electronic payments
More informationThe e-payment Systems
The e-payment Systems Electronic Commerce (E-Commerce) Commerce refers to all the activities the purchase and sales of goods or services. Marketing, sales, payment, fulfillment, customer service Electronic
More informationGuide To Increasing Online Sales - The Back (Office Story)
Guide To Increasing Online Sales - The Back (Office Story) 4 Ways Your Inventory & Order Management Solution Plays A Pivotal Role The one sustainable competitive advantage you have to drive more online
More informationA Study of an On-Line Credit Card Payment Processing and Fraud Prevention for e-business
A Study of an On-Line Credit Card Payment Processing and Fraud Prevention for e-business Nucharee Premchaiswadi*, James G. Williams** and Wichian Premchaiswadi*** *Faculty of Information Technology Dhurakij
More informationDrive your fraud rates down
Drive your fraud rates down Drive your fraud rates down To a greater or lesser extent, fraud concerns almost everyone involved in e-business. With margins tight and competition fierce, the prospect of
More informationReach more customers. Take quicker payments. Make it all easier With just one Click.
Reach more customers. Take quicker payments. Make it all easier With just one Click. By phone, online or mobile app, it doesn t matter when or where, Click allows you to reach more customers and take more
More informationElavon Payment Gateway- 3D Secure
Elavon Payment Gateway- 3D Secure Service Overview April 2013 Payer Authentication Service What Is Payer Authentication? When selling on the internet and accepting payments by credit and debit card it
More informationEFTPOS Merchant Facilities Quick Reference Guide
EFTPOS Merchant Facilities Quick Reference Guide How to Use this Guide This handy Quick Reference Guide has been designed to give you step-by-step, easy-to-follow instructions on how to correctly use your
More informationPayment Processor Secrets Page 1
Payment Processor Secrets Page 1 Table of Contents Introduction to Payment Processor Secrets... 2 Why Do You Need a Payment Processor?... 5 Traditional vs. Mobile... 6 Merchant Accounts... 7 Reputation...
More informationThe term e-commerce refers to buying, selling or ordering goods and services on the Internet. It is a subset of e-business.
Enabling e-commerce Creating an online store The term e-commerce refers to buying, selling or ordering goods and services on the Internet. It is a subset of e-business. So e-commerce happens when any commercial
More informationMAYBANK E-COMMERCE CREDIT CARD FACILITY Online Credit Card Payment
MAYBANK E-COMMERCE CREDIT CARD FACILITY Online Credit Card Payment By : E-COMMERCE MERCHANT BUSINESS CARDS BUSINESS GROUP MAYBANK 38 TH Floor Menara Maybank 100 Jalan Tun Perak 50050 Kuala Lumpur Version
More informationYOUR GUIDE TO SAFER, SMARTER CREDIT CARD PAYMENTS. What you need to know about chargebacks and fraud on mail, telephone, IVR and Internet orders
YOUR GUIDE TO SAFER, SMARTER CREDIT CARD PAYMENTS What you need to know about chargebacks and fraud on mail, telephone, IVR and Internet orders Contents HELPING YOU PROTECT YOUR BUSINESS AND YOUR PROFITS
More informationKeep money moving. A guide to payment services from Sage Pay. www.sagepay.com
Keep money moving A guide to payment services from Sage Pay www.sagepay.com The lifeblood of business Making it safe and easy for your customers to pay you is essential payment channels aren t just a part
More informationYes, your card will expire at a given date, which is printed on the front of your card.
What is the Debenhams Prepaid Card? Debenhams Prepaid Card works in a similar way to a pay as you go mobile phone. You top up what you need, when you need it. You top the card up with money which can be
More informationBarclaycard Business Credit Card Terms and Conditions
Barclaycard Business Credit Card Terms and Conditions 1 Contents 1. Introduction 3 Your card 3 Business credit limit 3 Monthly payment 4 2. Your interest charges 4 Interest rates 4 Promotional balance
More informationRealex Payments Integration Guide - Ecommerce Remote Integration. Version: v1.1
Realex Payments Integration Guide - Ecommerce Remote Integration Version: v1.1 Document Information Document Name: Realex Payments Integration Guide Ecommerce Remote Integration Document Version: 1.1 Release
More informationFraud Detection. Configuration Guide for the Fraud Detection Module v.4.2.0. epdq 2014, All rights reserved.
Configuration Guide for the Fraud Detection Module v.4.2.0 Table of Contents 1 What is the... Fraud Detection Module? 4 1.1 Benefits 1.2 Access 1.3 Contents... 4... 4... 4 2 Fraud detection... activation
More informationEnhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011
Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 On 5 th March 2010, The Association of Banks in Singapore announced key measures to adopt a holistic
More informationSkipjack ezpay Secure Online Order Form User Guide
Skipjack ezpay Secure Online Order Form User Guide About this Document...3 Copyright Notice... 3 Publication History... 3 Documentation Conventions... 4 Assumptions Used in this Guide... 4 Obtaining Additional
More informationFraud Detection Module (basic)
Table of contents 1. Introduction 1.1 Benefits 1.2 Contents 2. Activation and configuration 2.1 Blocking rules 2.1.1 Card country 2.1.2 IP address country 2.1.3 Country consistency 2.1.4 3-D Secure 2.2
More informationHow To Choose An Online Ecommerce Site
How To Choose the Right Ecommerce Provider for Your Business How To Choose the Right Ecommerce Provider for Your Business 2 As a small business owner, taking the leap from a brick-and-mortar store to a
More informationYour gateway to card acceptance.
MERCHANT SERVICES Authorize.Net Solutions Your gateway to card acceptance. Processing transactions reliably and securely is essential to your business. That s why BBVA Compass and Authorize.Net, a leading
More informationSecurity Best Practices
White Paper Security Best Practices Maintaining tight security, including using both standard and advanced fraud detection and prevention tools, is crucial to maintaining a successful business. No merchant
More informationCash only businesses don't have to worry about third parties or fees associated with other payment options. Cons of accepting only cash:
Forms of Payment Accepting Cash Only Cash is the most commonly accepted and reliable form of payment for a business. Many small businesses operate as "cash only" merchants. Years ago this wouldn't have
More informationACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments
A TO Z JARGON BUSTER A ACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments ATM Automated Teller Machine. Unattended,
More informationInternet Authentication Procedure Guide
Internet Authentication Procedure Guide Authenticating cardholders successfully V10.0 Released May 2012 Software Version: Internet Authentication Protocol COPYRIGHT NOTICE No part of this publication may
More informationthe region s leading payments company
Market Presence EMP's vision is to be the leading electronic payments processing company in the emerging markets of Africa and the Middle East. EMP's mission is to be at the forefront of the region's electronic
More informationManaging your monthly charges
MONTHLY PRICEPLAN Managing your monthly charges To put your business in greater control we d like to fully explain your business banking fees With our Monthly PricePlan you can choose a PricePlan that
More informationTrends in Merchant Payment Acceptance
Trends in Merchant Payment Acceptance December 6, 2007 Credit approval required. Merchant accounts are issued through BB&T Bankcard Corporation, a Georgia Corporation, Member FDIC. 2007 BB&T. All rights
More informationCreditCard Processing. Payment MadeEasier
CreditCard Processing Payment MadeEasier Buyers Guide for Credit Card Processing 1. A Brief Introduction of Credit Card Processing 2. Benefits of Credit Card Processing 3. How to Choose a Service Provider
More informationVisa Merchant Best Practice Guide for Cardholder Not Present Transactions
Visa Merchant Best Practice Guide for Cardholder Not Present Transactions Table of Contents Section 1 About This Guide 03 Section 2 Merchant Procedures 05 Section 3 Authorisation 07 Authorisation Procedures
More informationStreamline Cardholder Authentication. Avoid being the target of online fraud
Streamline Cardholder Authentication Avoid being the target of online fraud Streamline Cardholder Authentication helps protect your business and your customers Streamline Cardholder Authentication shifts
More informationYour Gateway to Online Success
The NETBANX gateway is a leading, proprietary online payment processing platform operating on a world class technology infrastructure. Trusted by global brands and companies around the world, the NETBANX
More informationOnline Accounting Software TYPES OF PAYMENT GUIDE
Online Accounting Software TYPES OF PAYMENT GUIDE Why you need to think about how you get paid If your business is successful, you ll need to find the best way to process payments for your goods or services
More informationMerchant Guarantee Guide. Version 4.0 December 2011 Business Gateway
Version 4.0 December 2011 Business Gateway Table Of Contents About this Guide... 3 Update History... 3 Copyright... 3 Introduction... 4 Guarantee... 5 The Merchant Guarantee... 5 Setup/Cancel the Merchant
More informationChapter 5. Online Payment System. Types of Payment Systems. Cash Checking Transfer Credit Card Stored Value Accumulating Balance
Chapter 5 Online Payment System Copyright 2007 Pearson Education, Inc. Slide 5-64 Types of Payment Systems Cash Checking Transfer Credit Card Stored Value Accumulating Balance Copyright 2007 Pearson Education,
More informationMasterCard In tern et Gateway Service (MIGS)
MasterCard Internet Gateway Service Master Card Inter nati onal MasterCard In tern et Gateway Service (MIGS) Virtual Payment Client Integration Guide Prepared By: Patrick Hayes Department: Principal Consultant,
More informationANZ EFTPOS card and ANZ Visa Debit card
ANZ EFTPOS card and ANZ Visa Debit card Conditions of Use Where to find things in this document What you need to know about these Conditions of Use...1 How to contact us...1 A glossary of the terms we
More informationMerchant Payment Solutions
Merchant Payment Solutions What We Do 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 Authorize.Net
More information(Discover) financial solutions for your campus
(Discover) financial solutions for your campus WHO WE ARE One element of our shared course for success is to improve and empower higher education through choice from giving students and their families
More informationMerchant Payment Solutions
Merchant Payment Solutions Credit Card Processing Diagram CUSTOMER S CREDIT CARD ISSUING BANK CUSTOMER 4 5 $ MERCHANT S BUSINESS MERCHANT S BANK ACCOUNT MERCHANT S BANK 9 CREDIT CARD NETWORK 8 INTERNET
More informationPlastic Cards: A Guide to Consumer Protection in the UK
Plastic Cards: A Guide to Consumer Protection in the UK One of the key benefits of using a UK-issued credit, debit or pre-paid card, is that your transactions can benefit from consumer protection that
More informationRisk Management Service Guide. Version 4.2 August 2013 Business Gateway
Risk Management Service Guide Version 4.2 August 2013 Business Gateway This page is intentionally blank. Table Of Contents About this Guide... 1 Change History... 1 Copyright... 1 Introduction... 3 What
More informationOXY GEN GROUP. pay. payment solutions
OXY GEN GROUP pay payment solutions hello. As UK CEO, I m delighted to welcome you to Oxygen8. We ve been at the forefront of multi-channel solutions since 2000. Headquartered in Birmingham, UK, we have
More informationHow To Accept Credit Cards From A Credit Card Provider
This page intentionally left blank START YOUR MERCHANT SERVICES ACCOUNT By Wendy Byford The ebook companion to the elearning module Start Your Merchant Services Account with Wendy Byford & Gary Bauer Start
More informationE-commerce refers to paperless exchange of business information using following ways.
E-Commerce E-Commerce or Electronics Commerce is a methodology of modern business which fulfills the need of business organizations, vendors and customers to reduce cost and improve the quality of goods
More informationA multi-layered approach to payment card security.
A multi-layered approach to payment card security. CARD-NOT-PRESENT 1 A recent research study revealed that Visa cards are the most widely used payment method at Canadian websites, on the phone, or through
More informationOur 24 tips to get you trading online in 24 hours
Our 24 tips to get you trading online in 24 hours With e-commerce growing by 14% this year in the UK and online shopping figures at an all time high, there has never been a better time to set your business
More informationGUIDE TO WEBSITES AND E-COMMERCE
GUIDE TO WEBSITES AND E-COMMERCE Version 1.0, 26-Sept-01 This document is available from www.webcentro.com.au 2001, WebCentro WebCentro Guide To Websites And E-commerce CONTENTS 1. What is a Website? 1
More informationMy Sage Pay User Manual
My Sage Pay User Manual Page 1 of 32 Contents 01. About this guide..4 02. Getting started.4 Online help Accessing My Sage Pay Test Servers Live Servers The Administrator account Creating user accounts
More informationE-commerce for Publishers
E-commerce for Publishers A Simple Guide January 2007, updated December 2010 This guide is intended to provide basic information about supply chain e-commerce and to enable publishers to take advantage
More informationProtecting your business from some of the current fraud threats
Protecting your business from some of the current fraud threats This literature provides guidance on fraud prevention and is provided for information purposes only. Where noted the guidance provided has
More informationE-Commerce SOLUTIONS. Generate Online Revenue with E-Commerce Solutions. www.monexgroup.com
E-Commerce SOLUTIONS In this report, MONEXgroup examines various types of online payment processing and E-Commerce Solutions. The tremendous transition towards online shopping stores in Canada has opened
More informationModule 6. e-business and e- Commerce
Module 6 e-business and e- Commerce 6.1 e-business systems 6.2 e-commerce systems 6.3 Essential e- commerce processes 6.4 Electronic payment processes 6.5 e-commerce application trends 6.6 Web store requirements
More informationFive Steps Towards Effective Fraud Management
Five Steps Towards Effective Fraud Management Merchants doing business in a card-not-present environment are exposed to significantly higher fraud risk, costly chargebacks and the challenge of securing
More informationElectronic Checks: The Low-Risk, Low-Cost Way to Accept Online Payments
Electronic Checks: The Low-Risk, Low-Cost Way to Accept Online Payments By: Karen Kaukol Vice President, Product Corey Chao Director, ecommerce Product Management & Innovation Karen Davis ecommerce Product
More informationMerchant Account Service
QuickBooks Online Edition Feature Guide Merchant Account Service C o n t e n t s Introduction............................. 2 What is a merchant account?.................. 2 What types of credit cards can
More informationHow To Use Paypal Manager Online Helpdesk For A Business
Payflow Link Fraud Protection Services User s Guide For Professional Use Only Currently only available in English. A usage Professional Uniquement Disponible en Anglais uniquement pour l instant. Last
More informationGlobal Internet Payment Processing Solution....expand your processing
Global Internet Payment Processing Solution...expand your processing Global Internet Payment Processing Solution Fast Easy Secure Convenient ecomm from emerchantpay is an end to end software solution hosted
More information