Those new to electronic payment processing often ask, “Why do I need a payment gateway?” It’s a great question and this article will help explain.
In order to process electronic payments such as credit cards, debit cards, and ACH/electronic check payments, merchants work with payment gateways. A payment gateway sends the electronic payment data to a processor/acquiring bank that routes the payment securely to the issuing bank. A payment solution handles this complex workflow in mere seconds. An issuing bank maintains the consumer’s credit card account and pays out to a merchant’s account when the consumer makes a credit card purchase.
The gateway can be one piece of an overall payment solution. TrustCommerce payment solutions include gateway functionality, and much more. Our payment solutions for face-to-face and card-not-present environments provide processing for major electronic payment types including credit card, PIN and signature debit, and ACH/e-check transactions. Supports tokenization, Point-to-Point Encryption (P2PE) and Data Redirection to reduce PCI DSS scope and protect cardholder data. Key products and services include:
- Virtual terminal to manually enter and process transactions and access comprehensive reports
- TC Link API in 20+ programming languages/platforms for easy integration with shopping carts, software and other solutions
- Centralized reporting regardless of where the payment was received
3 Things to Consider
1. You will need a merchant account
A merchant account is a type of bank account that lets you accept payments, typically debit or credit cards. By design and unique to the industry, TrustCommerce solutions are bank-neutral to allow our clients the flexibility to use the bank of their choice as well as to maximize bank portability. We are happy to recommend one of our banking partners, if you need to obtain a merchant account.
2. Security is included
Small or large, if you are a merchant who stores, processes or transmits cardholder data, you will need to be compliant with the PCI Data Security Standard. PCI Security Standards are technical and operational requirements set by the PCI Security Standards Council to protect cardholder data. The Council manages the security standards; the payment card brands enforce compliance. The standards apply to all organizations that store, process or transmit cardholder data. Learn more at: https://www.pcisecuritystandards.org/merchants/index.php
At TrustCommerce, we believe security shouldn’t be an add-on, or after thought. That’s why we include leading payment security technologies such as encryption, tokenization and data redirection with your TrustCommerce account—at no additional cost. Our TC SMART Products help reduce PCI DSS scope and protect payments.
3. Your business is unique
While this seems obvious, it is part of the TrustCommerce DNA. Our solutions are feature rich and robust to support multiple payment channels within a single solution. From straightforward shopping cart integrations to complex enterprise implementations that integrate proprietary software, accounting systems, and others, our solutions are built for flexibility and to accommodate growth.