About Online Payment Gateways

A business leader formerly based in Virginia Beach, William Adam Boyd guides VeriPay, VeriFund, and PCI Express. As a member of the Electronic Transactions Association (ETA) with over two decades of experience in the financial services sector, William Adam Boyd is well-versed in a variety of payment processing technologies as well as online payment gateways.

An online payment gateway is a system that enables merchants like e-commerce sites to accept online payments from customers. While most online payments refer to the processing of credit cards, advanced payment gateways can combine multiple payment methods, such as e-wallets or crypto payments, into a single interface, ensuring a seamless payment experience for customers regardless of their payment preferences.

During a transaction, the payment gateway checks the legitimacy of a card while preventing the leakage of a customer's personally identifiable information. Payment gateways connect to an acquiring bank, which is the final link in the verification process for credit card transactions, and the organization that holds the customer's money until settlement.

A Brief Overview of Credit Cards

The recipient of a BS in finance from James Madison University in Harrisonburg, Virginia, William Adam Boyd, serves as CEO of electronic transaction processing firm VeriPay. In his capacity, William Adam Boyd oversees prepaid, debit, and credit card services provided to various United States-based companies and government agencies.

Credit cards provide quick payments, offers, discounts, and lessen the need to carry cash. General-purpose credit cards and private label credit cards are two credit card types. General-purpose cards are accepted at shopping malls, restaurants, e-commerce platforms, and ATMs to make withdrawals. Retailers issue private label cards and accept them exclusively.

Corporate credit cards, supplemental cards, and dual currency cards are other card types. Corporate employees receive access to corporate credit cards for business purchases. Foreign and dual currency cards are issued for international use. Credit card companies issue supplementary cards to the main account holder. When a person uses a supplementary card, the main cardholder receives the bill.