Merchant Portal- Avail Services for Effortless Payment Transactions

You own an online business, an e-store or a website which deals with individual customers – your site accepts payments online through credit cards, debit cards or Net Banking. You will then for sure belong to the merchant portal of an online financial service provider who would be partnering with you at the back-end to ensure proper processing of payments related to customer transactions.

At the front-end, an e-payment work as below:-

  1. The end customer gets onto your e-commerce site through their laptop or computer. They can also use the company enabled App after having downloaded the same on their mobile.
  2. Once the customer chooses the item/s that he wants to purchase, the site or the App will move onto the payment page.

It is at this point that your payment partner site would enter the transaction scenario.

  1. In this step, the payment options like credit card, debit card or Net banking are listed. One needs to choose from one of them and move to the next step.
  2. In case payment by credit or debit card is chosen, the next step would be to furnish the card number, expiry date, name of the holder and the CVR number. In case payment by Net banking is chosen, the merchant site asks the customer to select the bank. On selecting the bank name, the page is automatically redirected to the bank website meant for internet banking. They would need to furnish details like their customer number and password after which it would move to the funds transfer page from where the actual transaction happens.

In the few seconds that the payment is a success or a failure, what happens is a series of steps that the payment gateway does in coordination with the financial service provider. Once the merchant’s bank gets a positive notification from the customer’s bank on the availability of the money or credit in the customer’s bank, the transaction is termed as success. If it’s a negative notification, then the transaction fails.

The service provider here is responsible for not only the smooth processing of the above steps, it also needs to be a safe and a trusted partner so that merchants like you can let them handle the back end financial process and concentrate on your products. The responsibility of protecting the private data from hackers and probable misuse lies with these providers. For this encryption technology is used by the service operators. For this all the major service providers of online financial services need to comply with certain rules and regulations laid down by Payment Card Industry Data Security Standards (PCI DSS).

The merchant portal gives the business vital information related to the revenues generated and sales performance of their stores. Various reports related to refund, settlements, historical data, transactions failed mid-way etc. that can help the business take wise decisions and focus their strategy to acquire more customers.

The financial service providers ate the backbones to the merchants to succeed in their business. The stronger and faster services they provide, the chances of the merchant success is also higher.

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