Moneris Payment Method designed for Magento 2
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First of all let us understand the concept of online payment
Online payment system is a method of paying for goods and services through an electronic medium, without the use of checks or cash. Online payment system has become increasingly popular due to the growing internet-based shopping. Moneris Payment Method for Magento 2 store owners enables them to integrate the secure and reliable Moneris payment gateway for accepting online payments.
In any Ecommerce website checkout page is one of the most critical stop, here customer share their card information. Checkout page is actually the place where window shoppers become paying customers. It is also very essential component to increase sales for your business.
Nowadays card payments are one of the most popular form of payment. Online payment processor has transformed the business processing by reducing the paper work and manpower. Online payment is less time taking process. It helps the business to grow.
About Moneris payment module
Moneris is Canada’s largest financial technology company that specializes in payment processor and acquirer of debit and card payments. Moneris was established in December 2000 as a joint venture between the Royal Bank of Canada and Bank of Montreal.
The magento2 Moneris Gateway is a multi-functional, secure payment processing platform that allows merchants to securely process their payments.
Magento 2 Moneris payment gateway Extension-
Moneris Payment Module by CedCommerce for Magento 2 store owners enables them to integrate the secure and reliable Moneris payment method for accepting online payments. Developed and tested on Onepage checkout process, this extension doesn’t redirects customers to the payment gateway site for making their payments successful, the stand out feature of the app.
The installation of the app is easy. Only your Store ID and API Token from Moneris account are required which needs to be entered in the Moneris Payment Method, from system configuration settings in the admin panel.
How Magento2 Moneris payment gateway Extension works
When a customer orders a product from a Magento2 Moneris payment gateway-enabled merchant, the Magento 2 Moneris payment gateway performs a variety of tasks to process the transaction.
- A customer places an order on website by clicking on Submit Order’ or confirm order.
- The web browser encrypts the information to be sent between the browser and the merchant’s web server; this may be done via SSL (Secure Socket Layer) encryption.
- The merchant then forwards the transaction details to their payment gateway. This is another (SSL) encrypted connection to the payment server hosted by the payment gateway.
- The payment gateway converts the message and then forwards the transaction information to the payment processor used by the merchant’s acquiring bank.
- After the authentication process is successful the transaction is then approved or denied by the credit card issuing bank.
- The payment gateway receives the response, and forwards it on to the website
- The credit card issuer makes a settlement
payment to the acquiring bank and then the payment gateway settles money to the
- The entire process from authorization to settlement to funding typically takes 3 days.
Benefits of the Magento2 Moneris Payment Gateway Extension
- Supports payment from various credit cards ex-Visa,MasterCard etc.
- Safe and Secure
- Supports test environment.
- Supports multiple transaction types-
- Authorize only: This method only validates and authorizes credit card details on checkout and reserves that amount from customer’s account which can be captured later on, usually after the shipment or delivery of the product.
- Authorize & Capture: The standard credit operation where the order amount is captured from the customer’s account and its invoice is generated instantly on checkout.
Features of the Moneris payment method-
- Online payments are accepted through Credit cards.
- Cards like Visa, American Express etc. are also accepted.
- This payment method is applicable only in Canada and US.
- No requirement for redirection to Moneris Payment gateway site.
- At checkout time, the customer receives notification messages.
- Sandbox & Production Environment are available and can be installed & uninstalled without affecting any core Magento functionality.
Pricing of Magento2 Moneris Payment Gateway Extension-
CedCommerce’ Moneris payment extension will integrate Moneris payment method to your Magento 2 store allowing store owners to create a seamless checkout experience for their customers by processing payments instantly via credit card through Moneris payment gateway.
You can refer the following link in order to know more about the description, and Pricing etc.
You can also follow the user guide: Magento 2 Moneris Payment Method – Admin Guide