Password must be 8-15 alphanumeric characters with these requirements
- Minimum one number (0-9)
- Minimum lowercase letter (a-z)
- Minimum one uppercase letter (A-Z)
- Minimum one special character "#?!@$%^&*-+<=>"
- Example password 99azTR?!@
Payment gateway is a service with a software application behind it. Its main function is to create a link between the buyer and the bank of the seller guaranteeing secure exchange of confidential encrypted information, such as credit card number or CVV. In order to process the payments it is required to have a merchant account linked to the payment gateway.
Payment gateway is an essential part of e-commerce and its main roles in the process of online purchase are the following:
Depending on the way the commercial activity is carried out there are two payment-processing options: Payment gateway for card-not-present operations (CNP) and payment gateway for card-present transactions (CP).
As the name indicates, CNP transactions are those that are processed without the physical presence of a card. Due to the fact that the presence of a cardholder and his signature are not needed, they are classed as of high-risk. In order to make a CNP payment, it is sufficient to have the card number, expiring date and sometimes CVV code. This kind of payment processing is used for MOTO, recurring payments or online stores purchases.
Even though CNP payments are the most common ones in e-commerce, its safety has been always questioned. The main difficulty of the merchant in this case is to verify whether the cardholder really approves the purchase. With the development of 3D Secure protocol, where the customer has to introduce the unique code in order to proceed with the operation, the security level of CNP payments has increased significantly.
What differentiates one payment gateway from another is the level of security it provides to the merchant and its clients. The ultimate anti-fraud technology used by many payment processor providers is called “Fraud Scrubbing”. It consists in creating the sequence of rules and parameters that analyzes if a transaction is fraudulent or secure. The merchant can create any rule, or choose among 200 existing ones, in order to protect his clients. One of the examples of fraud scrabbling rules is IP based rule. For example, a businessman with a card issued by English bank goes to Turkey on a business trip. While there, he wants to make an online purchase but because his home address doesn’t match his IP the transaction can be cancelled or delayed until there is a possibility to double check the authenticity of this transaction. So anyone who hires payment gateway for CNP transactions can indicate what kind of security parameters should be applied to his business.
The most popular Fraud Scrubbing parameters:
CP transactions are not applied to e-commerce and are characterized by low level of risk they involve. Because the presence of a cardholder is required in order to make a CP transaction it is not difficult for a seller to verify his identity and confirm his willingness to proceed with the payment.
When a physical POS terminal is used there are two ways to confirm the authorization of a transaction. The first one is an invoice that gets printed at the same moment when the transaction gets approved. The second way to confirm the status of the operation is by connecting to panel of control of the contracted payment gateway.
The fees charged for processing CP transactions are quite lower than those applied when CNP sale takes place. It can be explained by the high level of risk and large list of security checks that have to be done in order to process CNP transaction.
While the owners of online store are focused on merchant account application and its approval it is very important to take time and choose a payment gateway that suits your commercial requirements perfectly.
When choosing payment gateway follow this checklist: