Payment processors are the third-party organization hired by a merchant to manage the transactions from various channels like debit and credit card for merchant acquiring bank. The payments are made by customers at either the store itself through a Visa terminal or online through a shopping basket made in the website page of the organization. But to receive the credit card payment, a business owner needs an Internet merchant account. For getting so, they need a payment processor who assists them in the process of merchant account. A merchant account has two categories.
1. Low-risk merchant account

2. A High-Risk Merchant Account.
Depending upon the nature of your business you get the approval for your merchant account. Low – risk business can easily get authorization from banks and financial institutions. But High- risk business merchants have to make some efforts to get a high- risk merchant account.
Now here the role of high – risk payment processors comes in action as they have tie-ups with various banks and authorities dealing into this field. What you need to do is! Search for a relevant & reputed high-risk payment processor that can help you with the assistance and solution for your business. In this search, PayCly is the most recommended High-risk payment processors serving with their incredible service globally!
After acquiring a merchant account, the merchants need a payment gateway account. This is essentially the processing account, which confirms the worthiness of the credit card and afterwards transfers the assets to the dealer account. The user enters his/her card details on the merchant’s website page.
This should occur on a protected site page, implying that the data collected right now ought to be encoded with the goal that it can’t be perused by any outsider. This is important to decrease fraud related to cards. Next, the shopping basket program at that point gathers the data and transmits the equivalent to the credit processor, which is the payment gateway. The card processor checks the data and decides the organization that deals with the client’s Mastercard, and afterwards transmits the charging demand.
After accepting the request, the credit card organization approves the records and ensures everything is altogether. It at that point sends back an affirmation to the payment gateway. In the event that the data is seen as legitimate, the credit processor starts the exchange of the assets to the dealer account.
Now you have understood how things are interconnected to each other in the online business process. There are steps that are needed to follow for running an online business smoothly. Merchant account and payment gateway is the two most important part of the business. Especially it becomes for sensitive when you run a High-Risk Gateways that needed to be treated differently. In this High-risk payment processors plays a significant role.

Read our another blog post : eCheck Payment Processing











