Payments 101

To process payments you need 4 things:

1. A Payment gateway

All payment processing transactions need to operate through a secure interface called a gateway. This is how your customers, your choice of online payment method, and all the appropriate financial players connect during the transaction.

The Beanstream gateway is iron-clad secure, meeting the absolute highest level of compliance to the Payment Credit Industry (PCI) standards.

2. Merchant Account(s)

The way the industry works

When you accept customer credit or debit cards, online or not, you have to process the payment through a merchant account. Different than a bank account, a merchant account stores and validates your customer’s card details and available funds. Once the funds have cleared, they are sent to your specified business bank account.

A “merchant account provider” (such as Beanstream) has legal obligations to confirm your business is legitimate, can provide a minimum level of customer service, and has clear refund and business policies. This is because the merchant account provider represents your business in establishing credit terms with the card brands, your merchant-customer transactions within the network, and your successful transfer of funds.

The Beanstream Advantage

Gateway Accounts – You can bring us your merchant account.

We are in the business of supplying merchant accounts. But we can also supply a gateway account if you have an existing merchant account from elsewhere. Either way, you seamlessly leverage our gateway.

We Are Bank-Neutral

No matter who you deposit your funds to, we can work with virtually any financial institution in North America because our technology operates on the most common processing platforms including:

  • TSYS/Vital (US or Canada)
  • TD Bank (US or Canada)
  • First Data (US or Canada)
  • Chase Paymentech (US or Canada)
  • Global Payments (US or Canada)
  • Elavon (US or Canada)
  • Moneris (Canada)
  • Desjardins (Canada)
  • CT payment (Canada)

In addition, we operate through numerous European financial providers and soon to be in Australia.

3. Set Up To Accept Payment Types


In today’s digital world, customers continue to expect more payment options.

Beanstream enables you to accept these payment types:

4. A Secure Interface For Collecting Payment Data

CARD-NOT-PRESENT PAYMENTS

When your customer enters confidential data on your website it needs to process through our PCI-compliant servers. Data can transfer via hosted payment forms or carts as well as custom-designed integrations. See full options.

If you are keying in card data from phone-in or mail-in sales, our virtual terminal collects data within our secure online member area.

MOBILE Point of Sale

If you are taking money on your mobile device you need a mobile app plus a card swiper or EMV Chip and Pin.