Frequently Asked Questions
What is an online payment system ?
Simply put, it is a service that an authorised company delivers on behalf of card associations such as Visa or MasterCard supplying authorisation and settlement services that allows for card transactions to be done on the internet.
When a customer sends their card details to pay for a good or a service, those confidential details are not passed to your business, but to a payment gateway that will check that it is not fraudulent and fully compliant to Europeans regulations. The approved payment request is then pushed to the Banking system. The online business has been paid and the client’s card has been debited.