Internet Payment Gateway
Internet Payment Gateways & Schemes
Every merchant that wants to accept and process payments on the Internet is required to have the following:
An Internet merchant account
A Virtual Terminal
An Internet Payment Gateway certified with their credit card processor.
What is an Internet Merchant Account?
An Internet merchant account is a merchant account specifically approved for processing "card not present"
sales [i.e. "MO/TO" (mail order, phone order) / Internet-Based transactions].
Visa and MasterCard have different criteria for evaluating the potential risk involved in credit card
transactions where the card is not physically presented to the merchant. This type of business is typically
referred to as "card not present" or "MO/TO" (mail order/telephone order) merchant. For this reason, a
separate merchant account is required to process credit card transactions over the Internet.
In order to process credit cards online the first thing you......
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