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.
Know better? Leave your own answer in the comments!
Question by kumaran: What is Internet Payment Gateway?
An internet payment gateway is the most important part of any online business. What an internet payment gateway enables is a way for your site to process credit and debit card payments. One is a gateway which processes the credit card numbers and the second method is an internet payment gateway which collects the numbers and necessary information with you needing to run the numbers yourself on an offline credit card machine. Many companies, banks and websites offer this service online.
Best answer:
Answer by Sky Lin
An online Internet payment gateway allows you to process credit card orders from your website in real time. This way, the customer knows immediately whether or not their credit card was approved.
A shopping cart is usually used before the payment gateway. This function allows your customers to pick and choose the various items they want to purchase from your website, including options such as size, color, etc. At checkout the shopping cart totals the items, adds tax and shipping and collects the customers shipping and billing information.
The payment gateway captures the credit card transaction, encrypts the transaction information, routes it to the credit card processor and then returns either an approval or a decline notice.
This is a seamless process and your customer does not directly interact with the payment gateway as data is forwarded to the gateway via your shopping cart and a secure connection.
There are three vital things that an online payment gateway does when a customer attempts to make a purchase from your website using a credit card or a debit check card. These include authorization, settling, and reporting.
What do you think? Answer below!
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.
Add your own answer in the comments!
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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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
Know better? Leave your own answer in the comments!
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