Payment Service Provider
Andrew Phillips Cliq and other payment service provider are offering e-commerce merchants a single technical interface to various online payment methods. As a matter of fact, they help various merchants in the ecommerce industry and businesses at the same time to take alternative payment methods including credit cards, bank transfers, solutions, direct debits and digital wallets.
By this time now, you may be wondering on the different kinds of payment service providers available. In reality, the aggregating payment service provider, distributing payment service provider and collecting payment service provider are the 3 most prominent categories of such. All of the mentioned payment technology are helping online merchants as well as businesses to accept payments through the web but they are different when talking about 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 – between several payment schemes and the landing page of the seller, this serves as its technical intermediary. It is them that takes away the complex programming for the sellers online by means of incorporating it with payment platform of the distributor. It is the distributor that will be handling data processing to the payment method scheme that 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 – this act as technical intermediary between the website of the seller and several payment schemes and then, collecting funds for one or more payment methods. They are taking away programming complexity for online sellers by integrating with the payment platform of the collector. The collector will be processing data to the most applicable payment method. Furthermore, the collector will be collecting transaction funds for different payment methods and settle the accumulated amount to the bank account of the merchant. Check out Andrew Phillips Cliq to find more about this.
Aggregating payment service provider – this serves technical intermediary between several payment method companies and the website of the seller. It’s because that the aggregator will be handling data processing and correlate it to the most appropriate payment method.
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