Electronic commerce often known as E-commerce or eCommerce is referred to online businesses where individuals and firms can both sell and buy things. There are four major segments like business to business, Consumer to Business, etc. operated by E-commerce. The businesses which offer products and services through the internet are termed as ecommerce solutions.

If the products and services are sold by an individual or organization is called a merchant. And, selling of goods, products, and services through the internet is termed as Ecommerce Merchant Solutions.

Basics of Ecommerce Solutions Payment Processing

Merchant Account for your E-commerce Merchant Solutions

If you have eCommerce business then, you’ll need to accept payments for your sold products from consumers and, for that, you will need an account in the bank. The funds will be directly settled in the merchant account as soon as the customer authorized the fund by either mode of payment. It is not easy to grab a merchant account. For that, you need to build a relationship with the service provider.

Payment Gateway Is Available For Payment Solutions

In simple words, it is an online platform that helps to connect your eCommerce website with the merchant service provider from mobile or system. If you’re buying or selling something then, you will need to transfer or get money either on a merchant account or own account which is handled by an e-commerce Solutions provider.

Payment Processor

The payment processors are those financial services institutions that sort the transaction between acquiring bank, initiator bank, and different merchant account. It includes many service providers like Credit Card, Debit Card, and Other Payments Applications. Nowadays, there is much such application which helps in amount data settlement.

Benefits of Electronic Commerce Solutions

• Very affordable marketing and advertising for Ecommerce Solutions.
• The product reaches each individual without the intermediate.
• It is very convenient in use because it is available 24 hours a day and seven days a week.
• It provides better flexibility for the customers as well as faster response to the buyer demands.
• It has no reach limitations for the functions.

Modes of payments for E-commerce Solutions

To transfer funds from your account to the ecommerce merchant solutions account, the consumer has a different-different mode which includes credit card, debit card, E-wallets, mobile payments services, bank transfers, demand draft, cash, direct deposit, prepaid cards, etc. It gives flexibility to the seller to accept payments in multiple ways.