Merchant Portal-Eases Payment Transactions

Merchant Portal-Eases Payment Transactions

A Merchant Portal is the website that provides the e-commerce stores or merchants all information related to their transaction and business with the online financial service provider. The service provider gives access to merchant through a username and password. The portal or the dashboard is customized to meet all requirements of the merchant.  Contracting between the merchant and the service provider is done in a way to facilitate the merchant with all possible information available at the click of a button.

The user-friendly site helps provide the following information which can be accessed by the merchant’s authorized persons:-
  • Details of successful transactions done on the merchant e-commerce site
  • Refunds if any is tracked
  • Invoices generated
  • Statistical and MIS reports related to the total earnings, earnings by store, earnings by region, revenues from credit cards, debit cards and Netbanking
  • Graphical representation of the revenues generated
  • Statistics related to search results
  • Searches can be based on single transactions or batches
  • Settlement reports
  • Virtual Account reports
All this information for merchant portal only helps in streamlining processes at the merchant’s end. The management can take informed decisions because these are all real time data. These trusted financial service providers ensure that the integration of the merchant site at the front end with their site at the back end is absolutely crisp facilitating smooth and easy transaction not only to the end customer but also to the merchant.

It is the service provider’s job to enable the merchant or the e-store to accept payments against transactions via an encrypted trusted channel or a payment gateway.  This payment gateway can be the merchant’s bank itself or a third party financial service provider that specializes in payment processing through credit cards, debit cards, networking or any other form of e-payment.
Typically there are three major players when an online payment is processed
  1. The Merchant or the e-commerce site
  2. The Customer
  3. In between the above two, there is a software that sends secured information related to the customer’s credit card or debit card or Netbanking details  to the merchant service or to your merchant bank which approves or rejects the payment process after duly checking the end customers’ account for credit or bank balance to cover the payment against the purchase.
The financial service provider handles the third part. Now all this happens in a matter of few seconds and the payment is processed successfully or unsuccessfully. The provider also needs to ensure that the money received from the end customer then actually flows to the merchant’s account at his bank.
Few important roles that the service provider plays are:-
  1. Providing necessary software to support e-commerce s transactions of the merchant store on all platforms – android, IOS, python, PHP etc.
  2. Helps increase sales and conversions
  3. Provides faster checkout facilities thereby improving the end user experience in shopping at the merchant site
  4. Safe and secure encryption
  5. Excellent support to the merchant via dedicated client servicing team
  6. Technically updated and superior to provide best the integration services to the merchants

Merchant Portal-Eases Payment Transactions Merchant Portal-Eases Payment Transactions Reviewed by ravish kumar on April 18, 2018 Rating: 5

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