What is an Internet Payment Gateway?

What is an Internet Payment Gateway?

TSYS® offers a complete payment processing center that lets you accept credit and debit cards through any internet connection — and no terminal is needed. With an internet payment gateway, you can process credit card orders from your website in real time.

Our electronic payment gateway can be integrated with almost any website and virtual shopping cart. A shopping cart allows your customers to pick and choose the various items they want to purchase from your site, and at checkout the shopping cart totals the items, adds tax and shipping and collects the customer’s shipping and billing information.

The payment gateway then captures the credit card transaction, encrypts the transaction information, routes it to the credit card processor and then returns either an approval or decline notice.

More specifically, there are three things that an online payment gateway does when a customer makes a purchase from your site using a credit card. These are: authorization, settling and reporting.

Authorization

Any purchase made with a credit or debit card via a payment gateway must first be authorized by the credit card issuer. The payment gateway checks that the credit card is acceptable and creates a secure link between you, your customer and your credit card processor. It also allows for fast and efficient transaction processing, with an average response time of less than two seconds.

Settling

At the end of the day, the internet payment gateway groups all of your transactions together and sends them to your bank in a single batch. This process, known as settling, passes the transaction to your bank so that you receive payment.

TSYS offers clients an auto-batch close service that automatically settles transactions at the same time every day. If there are no transactions pending in the batch, it is not closed and no batch fee is charged. Once the funds settle, it normally takes two business days for you to see the funds deposited into your bank account.

Reporting

All of your transactions are recorded and you can view, print or download them using payment gateway reporting features. TSYS offers advanced search capabilities, including customizable reporting with up to five user-defined fields.

Unlimited Users

With an internet payment gateway, an unlimited number of users can use the gateway at the same time. (In contrast, with a terminal only one transaction can be processed at a time.)

Fraud Screening Tools

An internet payment gateway also offers fraud screening tools to reduce the risk of fraudulent transactions. Fraud screening tools include: Address Verification Service (AVS), card code value (CCV) and card verification value (CVV). An internet payment gateway also helps prevent fraud and reduces your liability by storing the credit card transactions in the gateway (instead of on your website).

Other Benefits

Payment gateways provide you with a “virtual terminal” where you can manually enter transactions. This is extremely useful for entering orders you take over the phone or through the mail.

The TSYS Advantage

At TSYS, we know you rely on your credit card processing system day in and day out. Our support personnel are U.S.-based and available 24/7 by calling 800.654.9256.

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