Tag Archives:Payment
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Lastest ACH Payment News

Alternative Payment Providers are the Best Bet for e-Gaming
Gaming operators should adopt several forms of payments. There are four primary forms of payments in the U.S.—cash, credit card, ACH and stored value prepaid cards. Online gaming site operators should adopt as many alternative payment methods as …
Read more on PaymentsSource

Sweetwater Cable TV Chooses GLDS' Billing and Provisioning in Multi-Year
Sweetwater Cable TV will use GLDS' WinCable for enterprise billing and subscriber management, Super Controller for provisioning of triple-play services, Service Provisioning Gateway (SPG) for automated voice and data provisioning, WinCAP TVE …
Read more on EIN News (press release)

JetPay Payroll Services Introduces WorkForce Today: A Comprehensive Human
JetPay provides a one vendor solution for payment services, debit and credit card processing, ACH services, and payroll and tax processing needs of businesses throughout the United States. The Company also offers low-cost payment choices for the …
Read more on MarketWatch

Lastest ACH Payment News

Ann Davidson Joins Allied Solutions as VP of Risk Consulting
Davidson is an authority on payment fraud, including cards, wires and Automated Clearing House (ACH). She is affiliated with various financial crime associations, as well as card and ACH associations that monitor fraud risk for financial institutions …
Read more on Bobsguide (press release)

Research and Markets: Order-to-Pay Solutions: Industry Partnerships Likely to
Companies have worked to transform their paper checks to commercial card and ACH payments, but electronic invoicing has lagged behind. This, however, has not deterred solution providers from pairing electronic invoice and payment products so they can …
Read more on The Herald | HeraldOnline.com (press release)

Big Payment Data: Leveraging Transactional Data to Ensure an Enterprise
Employing a Big Payment Data strategy to facilitate payments risk management not only requires access to specific data elements but also an understanding of what unusual activity may look like – ideally before a transaction is completed. While ACH …
Read more on BankInfoSecurity.com

How long does an ach payment take to clear your bank account?

Question by gdavison: How long does an ach payment take to clear your bank account?
I payed HSBC and their records showed $ 34.00 was taken out on 08/19/08 but my own bank has not shown the deduction yet. I am pretty sure HSBC got paid because their records show standard payment. I am thinking that my bank took $ 34.00 out of someone else account or they goofed and lost it. Local branch customer service said wait tell Monday.
Update. My bank told me to wait a couple of more days. I am tired of waiting. I did call HSBC, they actually have the money. So, I am wandering if the Federal Reserve lost it or my bank lost it.

Best answer:

Answer by AIDAN’S MOM
HSBC has processed the ACH on there end, you should see it come our of your account in a couple of days. I wouldn’t worry just yet, if it is not out by Monday I would call them and double check what account number they w/d the funds from.. just to verify.

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Q&A: What is a secure payment gateway?

Question by sean: What is a secure payment gateway?
How does it work to a merchant’s advantage?

Best answer:

Answer by happy
You need a payment gateway to process your on line payments as well as your normal credit card processing card company. They take your customer’s card details over the Internet and perform security checks on your behalf. It’s not to your advantage, because you have to pay twice and it’s not something you can do yourself.

It depends on the volume of business you transact through your site as to whether using a payment gateway is financially viable. For low volume transactions, a company such as paypal to take your online payments will be much much cheaper and it’s very straight forward. Google has also introduced a similar service recently.

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Q&A: What good will payment gateway service give my business?

Question by Jenny: What good will payment gateway service give my business?
I am uploading my very first online store in the next few days. Friends advise me to get a payment gateway. What good will payment gateway service give my business?

Best answer:

Answer by Charlotte
A payment gateway serves as your first line of defense against Internet fraud transactions on the Net. It secures your financial transactions away from the prying eyes of hackers. Though you will have to pay some corresponding fees for the service, the benefits far outweigh the cost. In other words, as an online shop owner, you can’t afford not to have payment gateway service. It’s a must for all online merchants.
For further reading, kindly browse the link provided below.

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What is Payment Processing engine and Payment Gateway?

Question by bhu: What is Payment Processing engine and Payment Gateway?
Can a corporate setup its own gateway or engine to process online money transactions. How is it done and what would be the cost to setup one.

Best answer:

Answer by ERAZ
Through payment gateway you can accept online payments from your clients on your website like 2co.com, moneybookers.com etc and they charge some percentage for providing this service like (.05$ +10%) for transaction > 100$ but exact figurs vary from gateway to gateway and yes you can setup your own for this you need to open merchant account in any bank. but my advice is to go for 2co as they also accept paypal along with credit cards and their fee is less than others and also taking services of any gateway is easier than settingup your own as gateway also provide security for not only client credit card but also for you and client feel more comfortable with well known gateways.

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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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