Authorize.net

Authorize.net Payment Gateway Review

Introduction to Authorize.net

Authorize.net is a well-established payment gateway service provider that has been facilitating online transactions since 1996. Now a subsidiary of Visa Inc., this US-based company empowers merchants to accept various forms of electronic payments, including credit cards and eChecks, through websites, mobile devices, and even over the phone. This review delves into the company's history, services, security features, pricing, and overall value proposition for businesses.

Authorize.net Services and Market Position

Authorize.net caters primarily to small and medium-sized businesses (SMBs) with a comprehensive suite of services designed to simplify payment acceptance and enhance business operations. Key services include:

• Payment Processing:Accepting a wide range of payment types including credit cards, debit cards, and eChecks across various channels (online, in-person, mobile, and phone).
• Fraud Protection:Robust security measures and tools to mitigate fraud risks and protect businesses from chargebacks.
• Integration:A flexible API and dedicated SDKs (Software Development Kits) for Android and iOS platforms, facilitating seamless integration with existing e-commerce platforms and business applications. A virtual terminal and invoicing features further extend payment processing options.
• Recurring Billing:Simplifying subscription-based services and recurring payments for businesses with membership models.

Authorize.net boasts a significant market presence, solidified by its long-standing history and acquisition by Visa. With hundreds of thousands of customers, it remains a major player in the payment processing industry.

Company History and Milestones

Founded in 1996 by Jeff Knowles in Utah, Authorize.net quickly emerged as a key player in the burgeoning e-commerce landscape. Knowles’ vision paved the way for a company that would become a cornerstone of online payment processing.

Authorize.net’s journey has been marked by several pivotal acquisitions that have shaped its growth and market position:

• 1999:Acquired by Go2Net for $90.5 million.
• 2004:Acquired by Lightbridge for $82 million.
• 2007:Became part of CyberSource, further expanding its reach and capabilities.
• 2010:Acquired by Visa Inc. for $2 billion, cementing its position as a leading payment gateway provider.

Under Visa's ownership, Authorize.net has continued to evolve, strengthening its fraud prevention measures, enhancing data security, and expanding its services to meet the evolving needs of businesses in the digital age.

Regulatory Compliance and Licenses

As a subsidiary of Visa Inc., Authorize.net operates under Visa's regulatory oversight. This ensures adherence to strict industry standards and compliance with relevant financial regulations.

Authorize.net prioritizes the security of cardholder data and maintains compliance with the Payment Card Industry Data Security Standard (PCI DSS). This rigorous standard ensures the protection of sensitive customer information throughout the payment process. While specific details of other certifications are not readily available, Authorize.net maintains all necessary licenses for secure and compliant payment processing.

Authorize.net Products and Services

Authorize.net provides a comprehensive array of payment processing solutions, supporting various payment methods and currencies. These include:

• Card Payments:Processing major credit and debit cards.
• eChecks:Electronic check processing for convenient bank account payments.
• Mobile Payments:Facilitating mobile payments through digital wallets like Apple Pay and PayPal, catering to the growing mobile commerce market.

While the specific range of supported currencies isn’t explicitly listed, Authorize.net generally accommodates a wide array of international currencies, enabling businesses to transact globally.

Merchant Services

Authorize.net offers tailored solutions for merchants, including:

• POS Systems:Integration with Point-of-Sale systems for seamless in-person transactions.
• Online Payment Gateways:Secure and customizable payment gateways for online businesses.

These solutions offer businesses key benefits such as seamless integration with various e-commerce platforms, robust fraud protection, and recurring billing capabilities for subscription-based services.

Key Features of Authorize.net

Security and Fraud Prevention

Security is paramount in online payment processing, and Authorize.net implements various protocols to safeguard transactions:

• Encryption:Protecting sensitive data during transmission.
• Two-Factor Authentication (2FA):Adding an extra layer of security to user accounts.
• Address Verification Service (AVS):Verifying the billing address provided by the customer.
• Credit Code Verification (CCV):Validating the security code on the back of the card.
• Daily Velocity Filter:Monitoring transaction frequency to detect suspicious activity.
• Advanced Fraud Detection Suite (AFDS):A comprehensive suite of tools to identify and prevent fraudulent transactions.

Authorize.net's commitment to PCI DSS compliance further reinforces its dedication to secure payment processing.

Integration and Compatibility

Authorize.net provides a flexible API and SDKs for Android and iOS, ensuring seamless integration with various e-commerce platforms and third-party services. This allows businesses to connect their existing systems and streamline their payment processes.

Speed and Reliability

Authorize.net's robust infrastructure ensures quick and reliable transaction processing. The system is designed to handle high volumes of transactions, minimizing downtime and maintaining consistent performance for businesses of all sizes.

Pricing and Fees

While the exact fee structure isn’t publicly listed and can vary based on several factors, Authorize.net typically charges fees that can include per-transaction fees, monthly gateway fees, and potential setup costs. Additional fees may include setup costs for new accounts, monthly subscription fees for ongoing service, and potential withdrawal fees for transferring funds.

Customer Support

Authorize.net provides customer support through various channels:

• Phone:1-888-323-4289
• Email:Through their website contact form.

While not explicitly stated, 24/7 support and multilingual assistance are becoming increasingly common in the industry and may be available. It's best to check the Authorize.net website for the most current information on support availability.

Pros and Cons of Authorize.net

Pros

• Robust security measures and PCI DSS compliance.
• Seamless integration with various platforms.
• Reliable infrastructure for high-volume transactions.
• Long-standing reputation and industry experience.

Cons

• Potential challenges with high-risk merchant accounts.
• Possible delays due to final review processes.
• Fees can vary and may not be transparently listed.

Conclusion

Authorize.net is a well-established and reputable payment gateway offering robust security, flexible integration, and reliable performance. While there may be some drawbacks regarding fees and potential delays for certain businesses, its strengths make it a viable option for many online businesses.

Who Should Use Authorize.net?

Authorize.net is generally a good fit for small to medium-sized businesses seeking a secure and reliable payment processing solution, especially those requiring seamless integration with existing e-commerce platforms and third-party services.

Frequently Asked Questions (FAQ)