MyPetParlor App enables you to easily process one-time and recurring payments. Setting up a business entity is just the first step – you’ll also need to connect a payment gateway and merchant account to be able to accept credit cards.
Why Do You Need a Payment Gateway?
A payment gateway serves as a digital bridge between a website, customer, and banks, encrypting sensitive card data and ensuring PCI DSS compliance for online payments. It handles transaction authorisation by verifying funds and identity, while also enabling global access through multiple currencies and localised methods. Based on the user's input, their current approach recognises geographic specialisation, plans for a multi-gateway strategy for different regions, and prioritises redundancy for failover protection.
Key Benefits
- Accept Payments — Securely collect and authorise transactions from cards and digital wallets.
- Ensure Security — Encrypt sensitive data to prevent fraud and meet mandatory PCI compliance standards.
- Enable Global Growth — Process multiple currencies and localised payment methods.
Transaction Flow
When a customer transacts on your service, a payment instrument (i.e. tokenization) is sent from MyPetParlor App through a payment gateway to your merchant account and on to the card issuer, or other institution authorising the transaction. Once the transaction has been approved, the transaction settles, and the merchant bank (Acquirer) ultimately funds you, the merchant, by transferring funds, minus fees, to your business bank account. If a transaction is declined, an error message is sent back through the system to MyPetParlor App with information on why and/or how to proceed. Please note, the granularity of the decline message is directly tied to a gateway's decline message availability. Some declines can be generic, and no further information is available to MyPetParlor App or the Gateway.
What is a Merchant Bank?
The purpose of your merchant bank is to serve as a ‘buffer’ in the event that transactions are contested via chargebacks. The merchant bank underwrites this risk by assessing fees to each merchant based on the characteristics and risk level of their business.
How can MyPetParlor App help?
Currently, MyPetParlor App integrates with Paystack, a leading payment gateway supporting multiple African regions and payment methods. We're building toward a multi-gateway strategy to provide you with the choice and flexibility needed for your unique business requirements as we expand globally.