OUR SERVICES
Acquiring Agreement
One of Eastside Solutions’ core competencies is advising on different payment solutions. In order for a payment to be processed, both a payment solution and an acquiring contract are required. When the customer makes a card payment, the acquirer checks whether there are sufficient funds in the customer’s bank account; The amount is reserved and ensures that the money is credited to your company’s account.
Depending on your business requirements, we advise you on the selection of suitable solutions
- Acquiring and payment solution from a single source
- Purchase contract or payment solution separately
Integration of payment gateways from a single source
There are different solutions depending on your business needs, but one thing they should all have:
- An integrated API that connects thousands of banks and local payments.
Global routing support
Multinational and local routing connections and support on other continents make transactions more convenient and significantly reduce processing fees for intermediate connections.
You achieve lower costs through:
- A stable trading system, precise risk control and a success rate of up to 98.2%.
Guarantee of a high approval rate
If payment processes are not optimised, vulnerabilities can arise through which significant revenues can be lost. This can have an immense negative impact on different areas of the company; Therefore, it is beneficial to work with a payment service provider that proactively looks for ways to close both internal and external gaps in the payment process to minimise payment leakage. Due to our expertise in the known processes and systems, we can guarantee our clients a high approval rate for their transactions and peace of mind.
What is a payment channel?
The Payment Channel facilitates the transaction using the Payment Gateway, a tool that communicates the approval or rejection of transactions between you and your customers.
Example: If we specify eGHL as the payment gateway, then the payment channels supported by eGHL are credit card, debit card, online banking, e-wallet.
Payment gateway
A payment gateway is a service that processes online payments such as credit/debit cards, FPX Internet online banking and eWallet, etc. processed for your company. The purpose of payment gateways, when integrated into an e-commerce platform, is to allow customers to seamlessly pay for their online purchases, either with credit or debit cards or via online banking. It acts as an interface between a merchant’s website and its acquirer. It encrypts the sensitive credit card data and ensures that the information is securely forwarded from the customer to the acquiring bank via the merchant.
The following parties are involved in this entire process:
- The buyer
- The merchant
- The payment gateway
- The bank
Payment process
The procedure is as follows:
1
. The Buyer selects on the website/app of the
dealer the service /product that he
would like to acquire.
2
. When the buyer completes the purchase,
it becomes the payment gateway
forwarded
3
. The payment processor asks the
Transaction at the bank to
4
. The bank reviews the request and issues the order for the transaction
5. after successful verification the money will be paid to the trader
6
. The buyer receives a confirmation, his account is debited and the goods are released
Multi-currency payment gateway
A multi-currency gateway enables the merchant to process international payments in different currencies and accept online payments from customers all over the world.
