Why Technology Aren’t As Bad As You Think

Payment Service Provider

Ecommerce dealing with various payment methods online can be a real hassle to them which is why it’s a big relief to its operation to have payment service provider such as Andrew Phillips Cliq. Basically, they help the merchants in ecommerce industry and businesses as well to accept alternative payment methods similar to bank transfers and direct debits, solutions, credit cards and digital wallets.

By this time now, you may be wondering on the different kinds of payment service providers available. The truth is, there are 3 well known categories for such and these are distributing payment service provider, collecting payment service provider and the aggregating payment service provider. While all these payment technologies follow the same principle in providing online businesses and merchants the ability to accept different payment through the web, they are all different in regards to fees, contracting and payouts.

Such service providers like Andrew Phillips Cliq can take more than one role at once that depends whether the payment method scheme enables for aggregation or collection and at the same time, the preference of the merchant. Take note that Visa and MasterCard have stricter rules and prevented such providers to collect credit card funds for some time.

In today’s time on the other hand, there are consistently increasing number of payment service providers like Andrew Phillips Cliq which have shifted to aggregation or collection models as this is enriching their one-stop shop proposals to online sellers, help in generating new income revenues and creating merchant loyalty at the same time.

Distributing payment service provider – this act as technical intermediary between the website of the seller and one or several payment schemes. It is them that takes away the complex programming for the sellers online by means of incorporating it with payment platform of the distributor. Then, it is the job of the distributor to match which payment method scheme is most applicable.

In regards to merchants that make use of Andrew Phillips Cliq as well as the services of distributor, it is essential to separately contact payment method scheme and from there, discuss about pricing.

Collecting payment service provider – for this, it serves as the technical intermediary between the seller and the payment schemes for collecting funds on one or more payment methods. By incorporating the payment platform used by the collector, online sellers would not have to worry about programming difficulties. The collector is then taking care of data processing to applicable payment method scheme. Not just that, the collector is collecting transaction funds for various payment methods and settling the amount that is often accumulated to the merchant’s bank account. There are many other info you can find about this stuff at Andrew Phillips Cliq.

Aggregating payment service provider – payment method companies and sellers at the same time are grateful for this model. It’s because that the aggregator will be handling data processing and correlate it to the most appropriate payment method.