The rise of the credit card came from the need of people to be able to pay for something without necessarily having hard cash on them. It was designed so that people would no longer be burdened carrying around bundle of bill with the promise of later settling payments at the bank. This was a “cashless” transaction system readily embraced by the public.

Credit cards were also greatly benefited by the rise of the Internet and e-commerce.Since transactions are made online, there is no way the buyer and the merchant could meet face-to-face and no way hard cash could exchange hands.This paved the way for the establishment of the payment gateway.
The payment gateway Chicago is an e-commerce application service provider service that authorizes credit card payments for e-businesses and online retailers. Needless to say, payment gateways are essential if you want to run a pay website or one where you want people to buy things or pay for services.

How an Online Payment Works

Step 1 – The customer places the order online.
Step 2 – The order is received by the online merchant’s web server. This order is usually protected with a Secure Socket Layer encryption for security purposes.
Step 3 – The online merchant’s web server makes the request to the payment gateway.
Step 4 – The payment gateway requests for confirmation from the bank that issued the credit card of the customer.
Step 5 – The bank transfers funds to the merchant’s account.
Step 6 – The bank tells the payment gateway that payment has been made.
Step 7 – The payment gateway Illinois tells the merchant’s web server that payment has been made.
Step 8 – The merchant’s web server tells the customer that the transaction has been successful.
Step 9 – The product paid for is delivered.

How to Choose a Payment Gateway
There are a lot payment gateway services available. If you have not chosen one for your website, here are some tips to help you choose.

Check YourWebhost – You webhosting service provider might alreadyhave a payment gateway service Westmont available. Try checking your website’s control panel or your online shop’s admin page to see if there are payment gateway options.

Check for Other Options – Your shopping cart software may not be compatible with some payment gateways, check to see which gateways your software supports. The more popular payment gateways include PayPal, SecurePay, Authorize.net, Verifi and Braintree.

Why Not Develop Your own Gateway?
There is another option;have OrangeSpike.com develop your own personal payment gateway. What are the benefits of your own gateway?One, you don’t have to pay for the services of an established gateway. Two, if that established gateway fails or shuts down for one reason or another, you can be sure yours will still be up and running.

The least reason? Your own gateway will be more secure since you have a say in the security precautions, you will also have your transaction traffic only on that gateway, less chance for hackers to get interested in it.
Does having your own payment gateway sound good to you? Guess what? We can help you put it up.
Come see us at orangespike.com