There are several options for receiving payments online

[sujonkumar6300]

Large companies typically open a merchant account and implement a virtual terminal supported by the infrastructure of the bank of their choice. On the other hand, many businesses do not have the resources to implement this, or prefer not to do so. The option for these cases is to use an IPSP (Internet Payment Services Provider), which is an intermediary that provides the online payment service in exchange for a commission.

In this article we will broadly explain different strategies for receiving online payments.

Payment via IPSP
In an IPSP ( Internet Payment Service Provider ), the seller has created an account with an IPSP, which is used to receive payments from consumers. In some cases, the consumer also needs to create an account, while in others, they only Ukraine Mobile Database need to provide their credit card information, or even make a payment at a convenience store by indicating a reference code. One of the best-known IPSPs is PayPal.

An important factor to consider is which of the services is available in the country in question, what types of credit cards and payment methods each company accepts, information about the type of currency and other local issues. Some transfer money from person to person and payments need to be verified manually. Others offer more sophisticated integration with our website. Some providers work from anywhere in the world, while others work only for a specific country, so this would be the first thing to consider.

A list of the most popular IPSPs can be found at www.online-payment-processing.com .