So you want to start accepting payments online?

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Great! We're here to help.

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We've put together this guide to walk you through the basics of payment processing online. We'll start with a little background on how online payments work, then talk about what it means for your business and how you can get started.

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Payment Processing Online Explained

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Payment processing online is the process by which money moves from a customer's bank account to yours after the customer purchases goods/services online. This process is called an online payment system and consists of 3 major players:

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Payment gateway

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Ensures that the transaction is completed quickly and securely. This component is essentially a “middleman” between the payment processor and the credit card/ debit card company

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Payment processor

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A third party (like Penni Payments) that communicates the card details between your bank account and the customer’s bank account. The payment goes through if the customer has enough funds in their account.

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Merchant account 

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At the end of this process, the funds are transferred to your business’ bank account safely and securely.

Getting Started 

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Now that you’re familiar with the terms, let’s dive into implementing payment processing online for your business. To do this, you have 2 options: you can either do it all yourself, or outsource to a third-party like Penni Payments.

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If you choose to set up the system yourself, you’ll need to create an online payment system that meets Payment Card Industry Data Security Standards (PCI DSS). The PCI DSS checklist ensures that cardholder information is securely transmitted, stored, and handled. Depending on the size of your business, PCI DSS has different requirements you need to meet. 

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If you want to start payment processing online, you need to comply with these standards. 

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The process of understanding the PCI DSS checklist and ensuring you meet the standards can be time consuming, costly, and confusing. It takes time and money you can use for your business. Because of this, many companies choose to outsource payment processing online to a third-party.

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That’s where Penni Payments comes in! Not only do we handle the entire set-up for you while guaranteeing the lowest rates, Penni also allows you to track sales and manage employees. We equip you with tools so when you start payment processing online, you’re already ahead of the game. 

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Getting started with Penni if a simple process. We have a team of experts that will integrate Penni into your system and discuss the best terminal for your business. Our goal is to equip your business with the payment processing tools that are right for you. 

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Contact us today and we will help your business get started with payment processing online! 

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