Authorize.net

Video Transcription

Hi, I'm Ira Bornstein ,and today we are going to be discussing Authorize.net, a cyber source own company. And again I'm going to broadened the conversation to more than Authorize.net but Gateway in general. I often get ask what are Web Gateways? Web Gateways are really just a way for a merchant to take data not using a physical terminal or a point of sale system, but to take a credit card number and process it using the web. So, for example when there is somebody in a situation like a trade show where they need, they have a physical terminal and they need to enter somebody's credit card number in, or a gateway is often used as a recurrent billing situation per example a gym membership, where the owner of the business doesn't want to physically, manually process somebody's transaction month over month; so you want some kind of web gateway where you can enter the data in securely once and have the system process it every month. Call centers are another great example of when a gateway is used. Where a consumer will call in to a call center and will need some kind of a gateway to take that credit card number over the phone and process the transaction to validate that it's good.

Gateway are often also used in a shopping cart internet buy in system. So, for example a consumer go to a website, they may buy a product or service that is brought in to a shopping cart. That shopping cart brings all the products together and then ultimately you will need to pay. So an Authorize .net or cyber source or any web base gateway can then take that credit card number, process the transaction and validate it. Because the consumer wants to know that their transaction is completed right there on the web.

As a business owner you want to consider the security tools. There is a lot of acronym in our business whether is CVV or AVS those are method where you can help yourself to verify that the consumer who is ordering the product or service is the same as the cardholder because there is a lot of fraud online. So you always want to make sure to activate CVV or AVS tools in your gateway. PCI is also a consideration that's a payment card industry security standard, to make sure that the credit card number is protected that it is safe. Because, the last thing you want to do is as a business owner somehow expose credit card numbers to a world of fraud and risk. Again you want to make sure that you're gateway has all the functionality, all the security tools and all of the ability that you can transact online. That's your tip for the day I'm Ira Bornstein.