Payment Gateways

A payment gateway is a separate service and acts as an intermediary between the merchants' shopping cart and all the financial networks involved with the transaction, including the customers' credit card issuer and your merchant account. This is a seamless process and your customer does not directly interact with the gateway; as data is forwarded to the gateway via your shopping cart and a secure (SSL) connection. The shopping cart is configured via plugins to send information in a format that is acceptable to the particular gateway.

The proper choice of payment gateway is another vital element which will contribute to your success or failure as an online business.

Payment gateway issues

As with any other e-commerce element, shop around, compare prices and read the fine print. Here are some of the major points to consider when selecting a payment gateway service.

Gateway compatibility

If you have already purchased a shopping cart package, ensure that the payment gateway service is compatible. If a service is not listed, contact the shopping cart vendor for clarification. Most shopping cart companies are happy to support other payment gateway services if there is a demand for it, and usually at no extra cost.

If you haven't yet selected a shopping cart, get a list of supported applications from the payment gateway service provider. A payment gateway may offer great pricing, but if the range of shopping carts or storefront software it supports is limited, the whole process of setting up for taking online payments may cost a lot more than you think. I've noticed some gateways only support horribly expensive and restrictive shopping cart software packages and services.

AVS protection

Ensure the gateway at least offers AVS protection. The Address Verification System (AVS) AVS decreases the incidence of accepting fraudulent transactions by verifying the cardholder's billing address with the card issuer. Using AVS on your transactions may also benefit you by a reduction in fees charged by your Merchant Bank.

Check to see what other types of transaction protection are offered to you as a merchant. These will probably be 'premium' services, the charges added to the basic servicing fees, but dependent on your products may be absolutely necessary. If you are engaged in the sale of anything that is youth or technology oriented, it's probably a wise move to pay for the extra service as chargeback rates on fraudulent transactions can cost you around US$30-$60 per incident!

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What is a Merchant Advance?

Merchant Advance - A Fast Cash Advance for your Business

Receive up to $250,000 per location - FAST!

Are you having a hard time getting funding from banks, small business loans or venture capital?

PCI Professionals can provide you with the cash you need now! We are a credit card payment processing company that provides merchants with fast cash advances based on future credit card transactions.

Its easy to apply for a merchant cash advance

Your cash advance is based on future anticipated credit card processing volume. There are no fixed monthly payments, instead a portion of your monthly credit card transactions is deducted until your advance is paid back.

Benefits of the Merchant Advance:

• Your approval chances are MUCH HIGHER as compared to other sources of funding.
• No collateral required.
• Fast Cash - Funds are usually available within 72 hours.
• No fixed payment amount.
• No fixed payment schedule.
• Repayment is made through a small % of your future credit card payment receipts.
• As you pay back your initial advance more cash becomes available for additional advances.
• No traditional personal guarantee required.
• The cash you receive is not reported to any credit agencies.
• Approval is not conditional upon high credit score.
• Bankruptcy, Liens, Foreclosures? No problem!

What you can put the money towards:

• Capital Equipment Purchase
• Payroll
• Paying Taxes
• Marketing Programs
• Supplies
• Catching up on Rent or other bills
• Advertising
• Expansion
• And more....

Find out how much cash your business qualifies for today!

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What is PCI DSS?

The PCI DSS, a set of comprehensive requirements for enhancing payment account data security, was developed by the founding payment brands of the PCI Security Standards Council, including American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc. Inc. International, to help facilitate the broad adoption of consistent data security measures on a global basis.

The core of the PCI DSS is a group of principles and accompanying requirements, around which the specific elements of the DSS are organized:

Build and Maintain a Secure Network

Requirement 1: Install and maintain a firewall configuration to protect cardholder data
Requirement 2: Do not use vendor-supplied defaults for system passwords and other security parameters

Protect Cardholder Data

Requirement 3: Protect stored cardholder data
Requirement 4: Encrypt transmission of cardholder data across open, public networks

Maintain a Vulnerability Management Program

Requirement 5: Use and regularly update anti-virus software
Requirement 6: Develop and maintain secure systems and applications

Implement Strong Access Control Measures

Requirement 7: Restrict access to cardholder data by business need-to-know
Requirement 8: Assign a unique ID to each person with computer access
Requirement 9: Restrict physical access to cardholder data

Regularly Monitor and Test Networks

Requirement 10: Track and monitor all access to network resources and cardholder data
Requirement 11: Regularly test security systems and processes

Maintain an Information Security Policy

Requirement 12: Maintain a policy that addresses information security

Hello

My name is Beau Biagini. I'm a Relationship Manager with PCI Professionals. My company is based out of Fort Lauderdale, FL. We are a full service payment processing company offering all types of businesses an array of services including credit card processing, debit card processing, gift card and loyalty programs, equipment sales, 24 hour customer service.

I will be posting informative articles about the payment card industry in the future.