About Payment Gateways
Whilst you have the option of not having payments conducted online and instead choose to accept cheque or cash on delivery, in most cases however the preference is to have online payment processing along with the other methods of payment processing in which case a payment gateway is required to process credit card payments on your ecommerce website.
In a typical online credit card transaction there are four parties involved: The client, the website, the merchant and the bank. The client is interested in purchasing one or more of your goods and services and furnishes relevant credit card details upon checkout when they are concluding their purchase.
The website, which is your electronic agent as the oner of the website collects and submits the credit card data to the bank (with which you have an arrangement and an account) through an intermediary- the merchant. Working in concert, all the parties involved have to complete their necessary roles for a successful transaction to be concluded.
Webmobyle uses the Virtual Card Services (VCS) Payment Gateway which will be linked to an FNB Merchant Account from where your website will accept payments. The web developer will assist you in making arrangements with FNB during the development process and accordingly set up the payment gateway to work with the merchant account, which you will open with FNB. Merchant accounts are business accounts usually opened with the bank in the name of your business.