Streamline Payments: The Benefits Of An Online Payment Gateway

According to a recent report, the number of expected online shoppers will reach over 2 billion in 2023. Are your customers going to be a part of that 2 billion?

If you need to take your business online, a reliable and secure online payment gateway is one of the most important steps.

An online payment gateway enables merchants to accept credit or debit card transactions from their customers online. It's an essential tool for every business that accepts online payments and provides customers with a safe and streamlined purchasing experience.

The Cleveland Browns understand how important it is to offer a streamlined process for your customers. By implementing an online payment system, your customers can easily shop and pay, knowing their personal information is safe throughout the checkout process.

So how can you integrate this system with your business? Electronic Merchant Systems (EMS) is a leading payment processor with a simple, efficient, and easy way to integrate the system into your business.

What's even more surprising is that 95% of business owners who receive their free rate review end up saving money. Want to find out how? Call (216) 230-3506 to talk to one of their experts.

Read on to see how an online payment gateway can help your business.

What Is An Online Payment Gateway?

An online payment gateway is a service that accepts and transmits financial data between clients and merchant account providers. In simple terms, it is a technology merchants use to accept payments and transmit the customer's payment data to the seller to ensure they get paid.

You can compare it to a traditional cash register. The key difference is that it only accepts payments electronically, such as credit card payments, debit cards, electronic checks, Google Pay, Apple Pay, and digital wallets.

The online payment gateway safely collects client payment information, verify sufficient funds are available in the customer's account, and then transfers the money to the merchant's bank account.

How Does an Online Payment Gateway Work?

Online payment gateways act as an intermediary between your business and the customer. The gateway encrypts sensitive cardholder data after authorizing the customer's purchase. After verifying the transaction with the issuing bank, it transfers the funds to the merchant's account. An online gateway is a safe and straightforward option for processing online payments for your business.

So how does the gateway work? The gateway connects to the debit/credit card networks like Visa/Mastercard/Apple Pay/American Express to carry out this job. It also communicates with the issuing bank or financial organization that issued the credit card to your clients.

A secure payment gateway confirms the authenticity of the customers' credit card details and total transaction fees after connecting to the network and issuer.

Suppose the issuer confirms that there is sufficient money and that the information provided is accurate. In that case, the gateway will either approve the transaction or reject it and communicate this to you and the client. This enables you to determine whether or not a transaction has been verified.

What Are Some Different Types Of Payment Gateways?

There are a few different types of online payment solutions to pick from. Some payment gateways enable you to embed the interface directly into your website, while others redirect the client to the payment gateway's website.

Generally, online payment gateways are classified into three types:

  • On-site (or Self-hosted). Here, everything from checkout to payment processing is handled on your server.
  • Off-site (or Hosted). The customer completes the checkout process on your website or physical store, but the payment is processed on your service provider's servers.
  • Redirects. The buyer in this situation is redirected to an external payment processor to finish the purchase.

What Are The Benefits Of Using An Online Payment Gateway?

Streamlined front-end operations

While the procedure requires PCI compliance security and encryption measures to communicate with the credit card provider, the gateway provides a streamlined front-end operation. This ensures that customers do not have to go through a time-consuming process to perform transactions.

For instance, in the case of a credit card transaction online, the user needs to input their card information and wait a few seconds before being informed of the success or failure of their transaction.

Since the gateway is often built into your site or app, the procedure is seamless for the customer. A customer only needs to provide the required data, which includes name, card number, expiration date, and CVV code.

Easy Payment Processing and Checkout Systems

The Cleveland Browns understand why customers appreciate the streamlined checkout process that online payment gateways provide. Customers' satisfaction will suffer if they are required to go through unnecessary procedures, such as creating an account before making a purchase. This might reduce the likelihood that the customer will complete their purchase and discourage them from returning to your business.

Virtual Terminal

An essential component of an eCommerce solution is a payment gateway, and the Virtual Terminal is a key feature of this technology. With the EMS Virtual Terminal, you can effectively run your payment gateway like a credit card terminal from your computer, tablet, or mobile device. The Virtual Terminal is browser-based, making it accessible from any web-enabled device, allowing you to manage your business from anywhere, at any time.

The Virtual Terminal offers several innovative features designed to make the process of receiving payments more efficient and effortless. For example, it can automatically calculate taxes and shipping costs, securely store customer information for future transactions, and even process recurring payments.

Custom Email Invoicing

Email invoicing allows you to increase your business agility. Send an invoice via email and enable your customers to make quick and secure online payments. You can also access a secure portal to see which invoices have been viewed and paid or even resend receipts.

Secure Vault Storage

Securely store customer card information for future purchases or billing. Create a profile for your customer, and they're all set! You can say goodbye to requesting credit card information for every sale thanks to this feature. And if you want the power to update outdated card information without sending a request, you can ask EMS about their Account Updater technology!

Recurring Payments

Set up an automatic recurring billing schedule for customers with monthly subscriptions or outstanding balances. All you need to do is set the schedule and let the technology handle the rest.

Reporting & Analytics

EMS offers the Merchant Console to manage the most important aspects of your business. Through this portal, you can review the status of email invoices, view all transactions, manage inventory, analyze sales trends, and much more.

An online payment gateway is fundamental to every successful merchant looking to increase their business or customer base. EMS can help your business be where your customers are. With an eCommerce solution, you can allow your customers to place orders or make secure payments on the web.

Streamline Your Business With EMS' Online Payment Gateway

In today's digital age, businesses must have an online presence. Having an eCommerce solution in place not only meets customers where they are but also allows them to place orders or make secure payments from the comfort of their own homes.

If you want to streamline your business and keep up with the demands of the modern consumer, equipping your business with an eCommerce solution from Electronic Merchant Systems is necessary. With its advanced technology and innovative features, you can take your business to the next level and provide customers with a seamless and secure online payment gateway.

Call (216) 230-3506 or fill out the form below to see how EMS can help your business accept payments with an online payment gateway.