Payment Gateway

Payment

Payment gateway is software application to facilitate payments related to online transaction for Tech Ideas.

What is Payment Gateway?

A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers.

Payment gateways protect credit card details by encrypting sensitive information, such as credit card numbers, to ensure that information is passed securely between the customer and the merchant and also between merchant and the payment processor.

How payment gateways work

A payment gateway facilitates the transfer of information between a payment portal and the Front End Processor or acquiring bank.

Various steps of transaction

A customer places order on website by pressing the 'Submit Order' .
The customer's web browser encrypts the information to be sent between the browser and the merchant's webserver. This is done via SSL (Secure Socket Layer) encryption.
The merchant then forwards the transaction details to their payment gateway. This is another SSL encrypted and connection to the payment server hosted by the payment gateway.
The payment gateway forwards the transaction information to the payment processor used by the merchant's acquiring bank.
The payment processor forwards the transaction information to the card association (i.e., Visa/MasterCard)
The card association routes the transaction to the correct card issuing bank.
The credit card issuing bank receives the authorization request and sends a response back to the processor (via the same process as the request for authorization) with a response code.
The processor forwards the response to the payment gateway.
The payment gateway receives the response, and forwards it on to the website where it is interpreted as a relevant response then relayed back to the cardholder and the merchant.
The entire process typically takes 2–3 seconds
The merchant submits all their approved authorizations, in a "batch", to their acquiring bank for settlement.
The acquiring bank deposits the total of the approved funds in to the merchant's nominated account.
The entire process from authorization to settlement to funding typically takes 3 days.

Many payment gateways also provide tools to automatically screen orders and detect fraud include geolocation, velocity pattern analysis, delivery address verification, computer finger printing technology, identity morphing detection, and basic AVS checks.

Most Prevalent Payment Gateway in New Zealand

Paystation

Welcome to New Zealand's premier online payment gateway Our online payment processing service provides merchants with a secure and robust solution to allow their customers to pay online by credit card or with their pago wallet. They also offer services for Mail Order / Telephone Order (MOTO) payments, batch processing, and call centre integration.

Payment EXpress

Payment Express is a Visa and MasterCard certified solution developed by DPS which facilitates electronic payments via internet, EFTPOS, billing, IVR, vending and mail/telephone order card acceptance channels

EWay

eWAY's mission is to be recognised as the leaders in global Payment Gateway solutions, superior customer service and cutting edge technology

Zip Zap

Payment gateway with Multi-Currency enabled for BNZ merchants,overnight Immediate Settlement and lowest Fees in New Zealand.Its compatible with any shopping cart system.They also provide (SSL) secure hosting and SSL certificates for your web domain.

Paymate

Buyers can be more confident purchasing from Paymate sellers who display the TrustMark logo - they can click on this logo to verify the registration date of the seller with Paymate and that their TrustMark status is approved. Buyers also benefit from the Buyer Protection Program when making purchases from TrustMark sellers via Paymate.

Paypal Shopping cart

When you use PayPal's free Shopping Cart on your website, your customers can purchase multiple items with a single payment, browse your entire selection, and view a consolidated list of all their items before purchasing. The PayPal Shopping Cart is a low-cost way for you to accept credit card and bank account payments, and can be fully integrated with your website.