Online trade:technology guide

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Identify the technology that would enable the agency to trade online.

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Online trade:technology guide

  1. 1. Identify the technology thatwould enable the agency to trade online. Jenni Corbett
  2. 2. Methods of Accepting Credit Card Payments There are two ways in which you can accept credit cards on your site:Using Your Own Merchant Account. Through a Third Party Merchant. For this you will need: There are numerous companies around that are willing to accept credit cards payments on yourA bank that will allow you to open behalf in exchange for various fees anda merchant account. percentages. These are also known as "payment gateways".Check with your local banks for more information on this. (Nine UK banks – known as acquiring banks currently offer merchant accounts.)
  3. 3. Using Your Own Merchant Account. 1. Set up a Secure Server This is a computer that uses encryption to make it difficult for intruders to intercept confidential information. 2. Set up SSL Secure Socket Layer technology is used to encrypt the data. You can apply for an SSL certificate online, some example sites are below.
  4. 4. 3. Build / Buy shopping software This allows customers to pay for ecommerce by entering credit card information. Sites where you can purchase and download thissoftware include:
  5. 5. 4. Card payment processing service (Payment gateway, otherwise known as payment service provider - PSP) This software validates your customers credit card information over your secure server. A payment gateway connects your main web site to your merchant bank account over the Internet. PSP software can be found at these websites:
  6. 6. Through a Third Party Merchant. There are numerous companies around that are willing to accept credit cards paymentson your behalf in exchange for various fees and percentages.Other services a third party might offer include fraud protection, order processing and And active affiliate marketers ready to promote your product in exchange for acommission. Reviews on these services can be found here: http://www.thirdpartymerchantaccounts.net/merchant-account-reviews.htm

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