Payment Processing

So, your application requires integrated payment processing to allow your customers to pay for service or products with Credit Card, Debit Card or via their Bank account directly (Direct Debit).

You may have recurring payment requirement where there will be weekly, monthly or annual payments payments to be processed automatically.

Before you get started down the development, it's important to get started as early as possible to evaluate vendors to find the right combination to best suit your transaction profile,  to minimise costs and provide the best service experience to your customers.

To get you started here is a quick few notes on the differences between Payment Gateways, Merchant Account Providers and Payment processors 

Payment Gateways

A payment gateway acts as a trusted mediator between the transaction requests that take place on your website and the payment processor. Unless you are a large comglomerate approved by a Financial regulator, you will not be allowed to transmit transaction requests directly from your website to a payment processor. You must use the technical services of a Payment Gateway provider.

Merchant Accounts

Merchant accounts are a type of bank account that allow your company to accept credit or debit cards payments online. You must have access to a merchant account if you want to use a payment gateway to process transactions from your website. These accounts can typically be opened with some large banks that provide such services via sister companies. (e.g. AIB Merchant Services.) Note: you do not have to use any Merchant services company recomended by your Bank (Current Banking Account Provider). shop around for the best rates and deals.

Maximum financial and technical flexibility can be achieved by independently selecting independent Payment Gateway providers and Merchant Account providers

In most cases these days, Independent sales organisations (ISOs) or Member Service Provider (MSP) provide these accounts. These organisations have agreements with payment processors to provide such merchant services. In addition to this, Independent contractors or Agents of ISOs also provide Merchant accounts.

Many companies including some payment processors and most payment gateways provide merchant accounts. In all cases, to acquire a merchant account, one must have some sort of arrangement with a payment processor to charge a customer’s credit/debit card.

Payment Processors

Payment processors or Acquirers are the financial institutions that work in the background to provide all the payment processing services used by an online merchant. These companies usually have partnerships with other companies that directly deal with consumers or merchants.

Payment processors make reselling agreements with Payment gateways or Merchant account providers in order to provide their services directly to internet merchants. Some Payment Processors do provide direct merchant services, but most companies focus on processing payments only.

Payment Processors usually don’t market their services and prefer to stay in the background, processing payments for Independent sales organizations (ISOs) and Member service providers (MSPs) who have partnered with them.

Picking the best combination for your application

There are a variety of payment gateways and payment processors out there. Including now many options by new providers that provide both services together. (Third PArty Providers)

All providers irrespective of type and function  vary in the monthly fees they charge, transaction costs they incur and in various other often overlooked and complex aspects. It is vital to do your research and discuss your requirements in detail with an experienced ecommerce application developer so that you can make an informed decision and choose the combination of providers to suit your individual needs.

Important Note:  Depending on your company status and application there may be a lead time to receive approval or account setup especially if your application is non-standard in any way. Best to get this work done as early as possible so that you have all agreements and vendor selection completed with accounts in place before development on any project.

Here are a list of providers and types that we have built cuatom technical integration solutions for: - 

STRIPE Payment Gateway & Merchant Account
Authipay Payment Gateway & Merchant Account

PayPal Payment Gateway & Merchant Account 

EVALON Merchant Account Provider
AIB Merchant Services Merchant Accounts Provider

REALEX Payment Gateway Provider
SAGEPAY Payment Gateway Provider
WORLDPAY Payment Gateway Provider
WORLDNET Payment Gateway Provider

GoCardless Direct Debit processor

The important point to note is that we can build any financial transaction engine however complex with any vendor, combination of vendors of any type regardless of juristiction or to any security standard provided that the selected vendors have a documented API for the services that you have signed up for.