Online payment service symbolizes the digital transfer of money using technology, securing payment credentials, adhering to payment standards. Payment service is an integrated platform that controls the life cycle of all digitalized payment types. Buyers and merchants had set the drift on their interaction with each other. When payments are made simpler, businesses grow and boost revenue for a firm or organization.
Digital or online payments can be made through cards, digital wallets, and direct online banking. A payment gateway or a payment processor is required to act as a middleman to streamline payments through various networks from the buyer, issuer or bank, and merchants. Merchants are dealers of good or services who send and receive money through payment processors. Merchants highly rely on secured payment processors to offer a seamless buying experience to buyers.
Online transactions are the most preferred mode of payment for buyers. Payment processes are evaluated through risk management services that authenticate transactions. Risk management service controls fraudulent transactions and prevents chargeback to the seller. Payment processors also regulate with Automated Clearing House (ACH) network to process direct deposit, direct debit, and electronic checks.
Novalnet e-Solutions creates frictionless and instinctive payments solutions for our clients who act as a Payment Service Provider (PSP) for on-demand digital commerce. Real-time payment processing and resolution to centralize transactions and to optimize secure transactions. Delivering secure integration to accept all payment types across all channels. In the frenetic world of technology, digital payment solutions streamline business through fraud prevention and a rapid checkout process.