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which technology is used for payment gateway ?

Question by James Bond: which technology is used for payment gateway ?
I mean there is technology that transfers money. We use some technology there are lots of its just tell me some so i can know something about

Best answer:

Answer by stymiee
This isn’t a project you would write with a language like PHP. You would need to use a higher level language such as C or C++. Something compiled that will be much faster and more robust then PHP. You can power your web based front end with PHP (i.e. user control panel) but the backend stuff, including payment processing, will need to be in the higher level language. You’ll also need an enterprise level database as open source databases could never handle a task like this. Basically you’re looking at using an Oracle database which is expensive but also designed for this sort of thing.

Your first major issue will be PCI DSS compliance. This is the security practices dictated by the major credit card companies (Visa, MasterCard, Amex, Discover Card, JCB). It dictates how you will secure your data in terms of hardware, software, and practice. It is expensive to do and maintain. You will need to hire a company to certify your compliance on a regularly scheduled basis. Failing your certification can mean you get shut down.

Your second major issue will be getting certified by the processing networks. To be a successful payment gateway you must be certified on every processing platform and there are at least 16 of them that I can think of off of the top of my head. Being certified takes about two months for each. You can do them simultaneously but you would be looking at at least a year to be certified on all of them. And each one has a different API so you will need to code your payment gateway to work with all of them.

Your third major issue will be the data you store. Not only do you have the PCI DSS issues to deal with, but you will need to capture and store every transaction that runs through your system for years. That kind of data will require tons of storage space (that will also need to be secured).

Your fourth major issue will be processing volume. A gateway must be able to perform transactions in a second or less. This means your hardware solutions must be able to scale for heavy traffic especially over the holiday season. It will need to be able to handle hundreds of transactions per second (thousands if you become successful). That is a big reason why you’ll need to use a higher level language over PHP.

Your fifth major issue is that you will need to create a powerful yet easy to use API for web developers to use to connect to your payment gateway. They need to be able to do everything a credit card terminal can do through code. Documenting that should be fun! 😉

Minor issues include:

– Making sure you are ECI compliant (Electronic Commerce Indicator is required for all Internet transactions)

– Securing all data transfer (SSL)

– Offering a user control panel

If you want to be successful you will also need to have the following in place:

– Anti-fraud tools

– Have a reseller program in place

My estimations would say it would take 2 – 3 years to build your own payment gateway and get it up and running. That includes being PCI DSS certified, certified on every major processing platform, and to create your API. Costs would be around $ 250,000 as the developers you would need to write that kind of code will not be cheap plus you will have large infrastructure costs (hardware and software) just to run everything.

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Lastest Payment Gateway News

Why a Currency Based on an Internet Joke Should Be Taken Seriously
EGifter is working with GoCoin, a cryptocurrency payment gateway, to allow consumers to pay with the two altcoins. GoCoin allows clients to immediately exchange digital currencies into U.S. dollars to avoid price volatility risk. GoCoin charges 1% per …
Read more on American Banker (subscription)

Canadian websites hit by Heartbleed vulnerability
Heartbleed is a vulnerability in the OpenSSL encryption code that is used by two-thirds of all websites. A popular method of encryption because it is open source and freely available, OpenSSL ensures your private information is securely transferred to …
Read more on ITBusiness.ca

Lastest Payment Gateway News

Cash Payment Gateway Receipt
payment gateway
Image by yaleman
Tonight the cash toll booths on the gateway bridge close forever (apparrently) at 8:30pm – I had to pay cash one last time 🙂

The woman who served me had a big sign saying "Goodbye" which was pretty cool 🙂

topcreditcardprocessors.com Names Flagship Merchant Services as the Best
The independent authority on credit card processors, topcreditcardprocessors.com, has promoted Flagship Merchant Services as the top payment gateway firm for April 2014. Share on Twitter Share on Facebook Share on Google+ Share on LinkedIn Email a …
Read more on PR Web (press release)

Creditcall Becomes First EMV Ready Payment Gateway in the USA
NEW YORK–(BUSINESS WIRE)–Payment gateway provider and EMV migration expert Creditcall has become the first payment gateway to support EMV in the U.S., enabling the company to take a market leading position as the U.S. rapidly moves toward …
Read more on Business Wire (press release)

how do i MAKE a payment gateway?

Question by TheHermit: how do i MAKE a payment gateway?
okay don’t be so quick to judge.. i understand its not easy and its gonna take a LOT of work.. but it seems like the internet doesnt want me to know the answer to that! i could find NO sources for this.. ok lemme split this questions into sub-questions so its easier to answer (..?)
* is there any reading material for this?
* how much investment are we talking here?
* is there a proper tutorial that gives any pointers?
* on a scale of one to ten how retarded do u think this question is.. as in how hard is this gonna be for a good PHP programmer (me)

thanks in advance!
and we could do without the wisecracks thank u!

Best answer:

Answer by Shedy G
if you that stupid why ask its a10

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Q&A: Indian payment gateway?

Question by thil: Indian payment gateway?
Which Indian payment gateway is easy to integrate to any opensource shopping cart.. ..

Best answer:

Answer by Lauren Green
You could check out this list of payment gateway that is widely used in India but not sure whether they are easy to integrate or not.

http://ijsid.wordpress.com/2009/06/01/top-10-payment-gateway-india-new-column-on-10-things-in-no-ranking-order/

Or I would suggest you opt for international payment gateways like PayPal. Here’s a list of other payment gateways that you could also consider integrating as they are widely known and recognized as well :

http://www.instantestore.com/accept-credit-cards.cfm

Hope this helps.

Lauren

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Webmasters Payment Gateway Providers?

Question by brianluke1: Webmasters Payment Gateway Providers?
Can you refer me to a cash processing gateway? Yes, I have merchant accounts with Amex and MC and Visa I need a way for customers to place their orders.

Best answer:

Answer by Ron
6 Payment Gateways Reviewed: http://www.sitepoint.com/article/money-where-mouse-is-gateways/

Ecommerce Payment Gateway Primer: http://www.websitepublisher.net/article/payment-gateway/

What You Should Ask A Payment Gateway Provider: http://michellenewman.wordpress.com/2007/07/19/what-you-should-ask-a-payment-gateway-provider/

Ron

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Best Payment Gateway Provider?

Question by kavinrocky@1: Best Payment Gateway Provider?
My site is a freelancing site and i need the best Payment Gateway Provider..
These should be included :

Check – Regular Mail
Check – FedEx Overnight
Paypal
E-Gold
Moneybookers
Payoneer Debit Card
Bank Wire

Thanks

Best answer:

Answer by Michelle C
sitepoint.com/article/money-where-mouse-is-gateways

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what is fashion pay payment gateway?

Question by Jessie: what is fashion pay payment gateway?
I want to buy some shoes online and under payment method it said FASHIONPAY payment gateway

Best answer:

Answer by Mohammad
1. FASHIONPAY payment gateway is a system to confirm availability of funds in the credit/debit card of the purchaser.

2. The website of Fashionpay gives the following information about the Payment Gateway:

“Payment Procedure

“Online Shopping Payment Procedure

1. Online shopper visits the merchant’s website and attempts to pay for service product.
2. Merchant’s website sends transaction enquiry to the payment system.
3. Online shopper’s bank debit card makes payment to the bank.
4. Fashionpay checks the merchant information and finds no transaction request errors.
5. Payment request is produced and sent to fashionpay gateway which checks the transaction information between the payment system and merchant’s website.
6. If there are no errors, the payment order is produced and sent to the bank’s payment platform.
7. Fashionpay returns the result from the bank’s payment gateway to fashionpay server.
8. Fashionpay server notifies both the merchant’s website and the customer that the transaction is completed.”

http://www.fashionpay.com/sht/en/pay.html.

.

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Lastest Payment Gateway News

SmartTrans continues to ramp up mobile and online revenue
It also earns royalties for providing a payment gateway for other app providers to sell into the Chinese market. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with …
Read more on Proactive Investors Australia

Q&A: What is a good payment gateway slash merchant account solution?

Question by Paul: What is a good payment gateway slash merchant account solution?
I am looking for a payment solution for my e-commerce shop. I am interested in a gateway / merchant account combo.

I have heard of Total Merchant Services.

I really need some recommendation.

Thanks!

Best answer:

Answer by mss
Payment gateway is a part of an eCommerce merchant account. A merchant account is the service that enables you to accept card payments. Payment gateway is an online service that merchant account providers use for transferring payment details between the merchant website and the bank processing center. The payment gateway will be integrated directly with your shopping cart. The integration process varies by providers and will be handled by their technical staff. Generally the following documents will be required during a merchant account application process:

1. A merchant application – you will have to complete and sign this form. It includes general information about you and your business.
2. A copy of your organization’s Articles of Incorporation, unless you are a sole proprietor.
3. A copy of a voided check for the account that you will want your money to be deposited into.
4. Business or personal financials. Your tax returns for the last two years may be requested if your business is new.

There are many things you need to know when selecting a payment processing provider. The most important issue is processing costs – you certainly don’t want to be overcharged. The costs are comprised of various fees and charges and I have given you a breakdown below.

1. Discount rate – the amount a merchant is charged by his acquirer for processing the merchant’s transactions. It consists of a percentage fee (e.g. 2.19%) and a fixed, per transaction, fee (e.g. $ 0.25). You should not agree to anything higher than 2.19% + $ 0.25.

2. Authorization fee – another “per-transaction” fee. You should not pay more than $ 0.12.

3. Application and set up fee – one-time fees to apply for and set up your account. You should NOT pay ANY set up or application fees!

4. Monthly maintenance fee – as the name suggests, it is charged monthly to keep your account on file. You should not be paying more than $ 10.

5. Support fee – another monthly charged for customer service. You should NOT pay ANY such fees.

6. Virtual terminal fee – a virtual terminal is the application that you will open in your browser and enter the payment information as you are taking it over the phone or getting it from a form you got in the mail. It should be provided for free.

7. Gateway fee – it should not cost you more than $ 15 per month.

Once your selection is made and all required paperwork is submitted, the set up of your merchant account should take no longer than two business days.

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