High risk payment gateway – By encrypting sensitive data in and passing it onto the acquiring bank, which in turn lets the issuing bank know that the account holder/card holder has made a payment, the Payment Gateway allows online merchants to receive card payments securely. An eCommerce payment gateway enables the transfer of information from the online merchant to the payment service provider/bank and back.
A payment gateway specialized in high risk business provides merchants a complete payment processing center which allows them to accept credit cards and signature debit cards through any Internet connection, without the need for a terminal. Credit card payments are processed on the merchant’s website in real time, which lets customers know immediately whether their credit card was approved or not. The high risk card processing gateway can be integrated with most ecommerce websites and virtual shopping carts in order to streamline online credit card processing.
A shopping cart is usually the step right before the payment gateway. A shopping cart lets your customers select the items they want to purchase from your website and the specifications for each item, such as size and color, before placing them in their cart, similarly to how they would shop in a real store. Once a customer has placed all the items he wishes to purchase in his shopping cart, they continue to ‘checkout’ where all items are totaled, tax is added and the customer’s billing and shipping information is collected. Following checkout, the high risk payment gateway captures the credit card transaction, encrypts the transaction information, submits it to the credit card processor and provides the customer with either an approval or a decline notice. The information travels to the gateway via your shopping cart and a secure connection, making this a seamless process for the customer.