To accept credit cards online, two things are needed. The first is and Internet Merchant Account and the next is an Internet Payment Gateway.
An Internet merchant account, which also known as a "MOTO merchant account", is a specific type of merchant account that allows for the processing of "card-not-present" transactions. If you already have a merchant account you use in your retail business for card-swipe transactions, you likely will not be able to use the same merchant account for Internet sales where there is no physical card to swipe.
The Internet Payment Gateway acts like a card-swipe terminal for a card-not-present credit card transaction. Like a card-swipe terminal, the payment gateway is what transmits the transaction data to the merchant processor and receives back the approval or decline. There are two key components to the payment gateway:
If you're looking to accept credit cards online, CyoGate can help! We have one of the best, most feature rich gateway platforms available in the industry and, with all of our gateway relationships, we can provide Internet merchant accounts for businesses in low risk and high risk industries.
For more information on how to accept credit cards online, please contact us today!
Apply for a Merchant Account Signup for the Payment Gateway
An Internet Merchant Account is sometimes referred to as a "MOTO" (Mail Order & Telephone Order) Account because they all require the ability to process a credit card payment when there is no physical credit card present to be swiped. A standard retail "swipe" merchant account does not allow processing of these "card-not-present" transactions.
If the domestic banks are denying your merchant application because they believe your industry is considered high risk, CyoGate can help! We have an offshore network of merchant processing partners that enable us to provide low cost, high risk merchant solutions to a much wider range of businesses and industries.
The CyoGate Internet Payment Gateway offers one of the quickest and most cost effective ways to accept and process credit card and electronic check payments online. Our payment gateway works with most existing merchant accounts and supports hundreds of popular web shopping carts and eCommerce platforms.