This article will help you to understand what a payment gateway is, and how it works.
What is a payment gateway?
Payment gateways are connections to external systems that allow the processing of payments. There’re two parts to the process:
- Once a centre has set up in the payment gateway, credentials are generated that allow the gateway and the software (Office) to talk to each other securely. This enables the Centre to send bills (providing Step 2 is completed) to the payment gateway for parents who wish to be billed digitally. The centre can update the status in Office when the payment is completed or failed.
- Parents' billing information is added to Office (by parents) and is immediately sent via an API (a software-to-software connection) to the payment gateway. This information is then encrypted and stored securely in the gateway, and Office only retains a unique identifier for each parent.
Why are payment gateways important?
Payment gateways allow services and centres to provide easy billing access for parents. There are multiple benefits to moving your payment collection to a digital service:
- There's reduced admin time for centres devoted to payments generally;
- There are fewer follow-ups regarding outstanding bills, as parents get billed automatically;
- The ability to exclusively offer digital payments, meaning reducing cash handling and EFTPOS terminal rentals, exists;
- The payments are secure - no details are held in Office;
- The ability to customise payments per individual (through Office)exists.
To get set up with Debitsuccess and start accepting payments, email us at [email protected]