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Online Payment Gateway Michigan

In the last decade, the Internet has gone from being a novelty for computer geeks and university students to play with to perhaps the single most powerful force in consumer economics today. Online startups like eBay, Amazon, Monster.com and similar websites have made literally billions of dollars, and oversee millions every day in transferring funds. Smaller websites from around the country and around the globe take their piece of the money tree too, making their owners handsome livings and allowing them to work comfortably out of their homes for good salaries and great profits.

1. Local Companies

2. Why Use Online Payment Gateways?

3. Implementing Online Payment Gateways

4. Payment Methods for Online Merchant Services

5. Featured Local Company

1 . Local Companies

Raymond James & Associated
(989)837-6558
Dijak Wealth Management Group - Tim Dijak
Midland, MI

Back On Track Credit Repair
(866) 824-9427
8838 E. 34 ROAD
Cadillac, MI

Pro Energy Consultants
517-206-7033
3167 rockingham way
Jackson, MI

Kathryn M Schram - State Farm Insurance
586-949-9555
: 48875 Gratiot Ave
Chesterfield, MI

CamNet Financial Solutions
616 644-1827
232 Arbor Dr NE
Rockford, MI

Gem Commercial Credit, Inc.
248-477-2170
34026 Navin Ave
Livonia, MI

MichiganHealthBroker, INC
586-604-9669
14859 Durussel
Sterling Heights, MI

Independent Wealth Management
231-929-1086 x1005
236 1/2 E. Front St.
Traverse City, MI

PATRIOTIC TAX SERVICE
(989) 252-0770
330 S Washington Ave.
Saginaw, MI

Velocity Investment Partners
734-474-2677
22 E Cross St
Ypsilanti, MI

2 . Why Use Online Payment Gateways?

One of the biggest problems many people have with buying products or services online is the possibility of fraud and identity theft. If a customer is shopping on a small business web site and is asked to enter credit card information, he or she may hesitate simply because the business is small and predators lurk around every corner. They’ll be far more likely to make a financial interaction with a company like this if that transaction takes place through a reliable third party – and that’s where online payment gateways come in. Merchant services like PayPal and related products allow merchants to accept online payments without ever having to deal with the credit card information and billing process itself.

A similar service in the real world is provided by POS (Point of Sale) terminals of the sort you see in retail outlets that allow customers to pay with credit or debit cards. Those terminals are enabled to process secure encrypted information and allow merchants to accept payments through credit card companies, making the transfer of funds simple and easy to process. Online payment gateways are essentially software versions of those scanners, and make online payments simple and worry free.

3 . Implementing Online Payment Gateways

Most online payment gateways and related merchant services use a secure coding system with a simple HTML interface. What that means is that, with a simple HTML script, you can reference secure servers at the online payment gateway and cause them to run their own far more secure code to transfer funds directly to your bank account. When you sign up for a business account with these online payment gateways, your first step will be to register your financial information. This may include, for instance, adding credit card information for validation purposes, and linking bank accounts to allow direct transfer of funds.

Once you’ve validated your merchant account, you’ll then have access to a block of HTML code you can paste directly into your web site. From there, it’s easy – the customer logs on to your website, browses your products, and decides on one or a few to ‘take to the counter,’ so to speak. Your site proclaims at the top which services you use, and if it is reputable, the customer can be assured of a safe and secure transaction. Funds are transferred from the customer’s credit card, through the online payment gateway, and into your bank account. Standard protocol is to take a very small percentage – usually only a few percent – from the transaction for the online payment gateway. So much commerce occurs over the Internet that merchant services can offer very, very good rates and still make a fortune.

4 . Payment Methods for Online Merchant Services

So how many ways can a customer pay you when it’s time to buy? Credit card only? Bank account transfer? The answer, of course, depends on which merchant services you decide to use. Most merchant services and online payment gateways accept credit or debit card transfers as well as offering physical addresses for cash or money orders to be mailed to. Again, with a trustworthy middleman involved in the buying and selling process, your loyal customers will be far more likely to think of investing their valuable time and money in your company in order to receive your goods or services. Some online payment gateways also offer direct bank account transfers – the equivalent of writing a check electronically. Direct bank account transfers are even safer than mailing a check or using a credit card online.

After the transaction between customer and online payment gateway occurs, a small percentage of the cost is taken out of the transfer to pay off the online payment gateways. This is in the form of a gratuity, or tip: rather than simply taking the money directly out of the transfer (so that the receiver gets less than the buyer sent) the money is calculated by percentage and added on to the price the buyer sends. So, if someone buys a hundred dollar computer chip on line and sends one hundred dollars, he might be charged an extra dollar or two for the transaction, while the seller will still receive one hundred dollars.

5 . Featured Local Company

Raymond James & Associated

(989)837-6558
Dijak Wealth Management Group - Tim Dijak
Midland, MI

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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History