Can I process both ACH and credit card payments through one payment gateway?
Yes, although ACH and credit card payments rely on different settlement networks, you can funnel all payment activity through a single gateway regardless of activity type.
How does a payment gateway work?
When a customer enters their payment information in the payment application (online, over the phone, or other integrated software), the gateway requests payment from the customer’s issuing bank verifying both the accuracy of the account data and availability of funds. Once the information is validated, the gateway sends requests the funds transfer, deposits the payment, and sends the transaction details to your merchant account. All of this takes place instantly and is completed in a matter of seconds.
What is a payment gateway?
A payment gateway is a technology offered by a payment processing service provider for accepting electronic payments. Its primary function is to securely receive and process payments such as debit cards, credit cards, or ACH Payments. Payment gateways allow merchants to receive payments online, by phone, or integrated API.
Is PaymentVision a payment gateway?
Yes. PaymentVision® is an online payment gateway that connects to the ACH and all major debit and credit card networks.
Can my company benefit from ACH?
If you bill for a service or are in the business of collecting payments for others, you can benefit from ACH. ACH will allow you to accept payments via the phone, online, and convert traditional checks received into electronic items.
What are the advantages of ACH over other types of payments?
There are many advantages to ACH payments – faster settlement timeframes, shorter return notification windows and automated return re-submission. This coupled with a low cost per item in comparison to other payment systems such as wire transfers and credit cards make it an attractive payment system for many businesses.
Does PaymentVision have a hold or reserve requirement?
In most cases, PaymentVision does not impose a hold or reserve requirement.
How fast do I receive funds?
Funds are usually transferred in 24 hours. Many ACH processors impose a hold and/or reserve requirement to manage their transaction risk (e.g., fraud, returns). It typically takes 3 – 5 days to see your money with an ACH transaction.
What is ACH?
How does PaymentVision protect cardholder data?
PaymentVision protects cardholder data in compliance with the payment card data security standards (PCI-DSS).
Will PaymentVision work with my existing merchant account?
Yes, PaymentVision can connect to most merchant accounts.
Can PaymentVision help me obtain a merchant account?
Yes, PaymentVision can help you find the best rate on merchant processing.
What is a merchant account?
A merchant account is an agreement between your company and an acquiring bank which entitles you to accept credit card payments. A merchant account is required to accept any major credit card brand.
Do I need a card terminal or “swipe machine” to accept credit card payments?
Unless you have a storefront or accept walk-in bill payments; no, you do not need a card terminal or “swipe machine”. PaymentVision’s built in virtual terminal functions just like a card terminal, is accessed via the web, and is appropriate for companies accepting payments in a card-not-present environment.
What types of capture devices does PaymentVision support?
PaymentVision has a built-in virtual terminal, interactive voice response system (IVR), and online payment site. PaymentVision services can also be extended to third-party systems through an API.
How do I begin accepting credit card payments?
In order to begin accepting credit card payments you will need a payment capture device, merchant account, and a payment gateway.