PAYMENT GATEWAYS
The Payment Gateway is an e-commerce service that allows the merchants to accept credit card and other forms of Internet transactions securely through the website. It is a key component of the electronic payment processing system, as it is the front-end technology responsible for sending customer information to the merchant acquiring bank,where the transaction is processed. This may be provided by a bank to its customers, but can be provided by a specialized financial service provider as a separate service, such as a payment service provider.It allows credit cards to be securely accepted on any device with an internet connection. It seamlessly connects to e-commerce or in-house payment processor, for example, credit card processing networks or online banking. It performs the important role in processing and authorizing the payment or transaction between customer and merchants and encrypt sensitive information and details of payment such as credit card number. One of the main payment gateway service provider is Authorize.net.
The Authorize.Net is a United States-based payment gateway service provider, allowing merchants to accept credit card and electronic check payments through their website and over an Internet Protocol connection. This API enables you to automatically process installment-based credit/debit card payments without having to store sensitive payment data on your server, which is passed directly to Authorize.Net’s secure server. Authorize.Net(ARB) doesn’t support card-on-file functionality. There are two different integrations with Authorize.Net – Authorize.Net ARB and Authorize.Net CIM.
The Automated Recurring Billing, or ARB, is a solution for automatically processing, recurring or subscription-based payments. It allows you to create a subscription that includes your customers’ payment information, billing amount and payment schedule. Once a subscription is created, Authorize.Net will handle the transactions for you, submitting payments using the information and schedule provided.
Authorize.Net CIM integration allows to store the customers’ billing information on the servers to allow more customization with our payments, such as changing the rebill date on a subscription. The Authorize.Net CIM is a card-on-file payment service. For both Authorize.Net ARB and Authorize.Net CIM integrations does not store any credit card information. Instead, this is all stored with Authorize.Net. For Authorize.Net ARB, the payments and information are stored on their end.
