FAQs.

Alternative payments methods include any payment option that doesn’t involve cash, cheque, debit card or credit card. Alternative payment methods include digital wallets, crypto currency, and Buy Now, Pay Later (BNPL) methods. 

A payment gateway is the technology that facilitates the acceptance of payments to merchants from their customers. It allows retailers to securely accept payments from their customers.

The moment a customer taps their card at checkout, enters their payment info on a website, or scans a QR code to pay, they set the payment gateway process in motion. 

A payment gateway acts as a digital go-between, instantly encrypting the payment details and preparing them for processing. 

From there, a payment processing company, such as OTT Pay, steps in to handle the transaction. Several crucial steps take place: 

1. A quick fraud check is done to ensure the payment looks legitimate. 
2. If it passes, the data is sent to your business bank (known as the acquiring bank). 
3. Your bank securely forwards the request to the payment network (like Visa, MasterCard, or Alipay) for another fraud check before reaching your customer’s bank. 
4. The customer’s bank then confirms whether the account details are valid and whether there are enough funds to cover the purchase. 
5. Finally, an approval or decline message is sent back through the same chain — all the way to your customer — completing the transaction in just seconds. 

A payment processor is a company or system that transfers the funds involved when an electronic transaction is made from a customer’s bank or credit card account, and a merchant’s bank. This includes debit card, credit card, and/or digital wallet payments between a merchant and their customer. A payment processor ensures that a transaction is processed efficiently and securely between the customer’s account to the business’s account.

As soon as a customer imitates a payment during checkout, the payment process is initiated.  

1. When a customer pays (in person, online, or mobile), the payment processor securely collects and transmits the payment information. 
2. The payment processor then communicates with the card network’s (Visa, Mastercard, Alipay etc.) and the customer’s bank to request payment authorization. 
3. The payment processor instantly sends back a response to the merchant to authorize or decline the transaction. 
4. Once approved, the payment processor coordinates the actual transfer of money into the merchant’s account. 

During the transaction, the payment processor also ensures that standards, like PCI DSS compliance, are being followed to protect cardholder data. 

A third-party payment processor handles payments on behalf of merchants without requiring the merchant to set up their own dedicated merchant bank account. The processor uses its own master merchant account and groups multiple businesses under it, known as “sub-merchant” account.

Traditional payment processors transfer the funds involved when an electronic transaction is made from a customer’s bank or credit card account, and a merchant’s bank account, working with merchant accounts that only belong to that business. However, third-party payment processors use their own merchant account to let multiple businesses share it under different sub-merchant accounts. 

A payment processor moves funds between a customer’s bank and a merchant’s bank account, while a third-party payment processor uses its own merchant account to process payments for multiple businesses. 

A merchant account is a specialized bank account that allows businesses to accept credit cards, debit cards, and alternative payment methods from their customers. Merchant accounts hold funds from a customer’s transactions before transferring them to the business’s regular bank account.

Yes, OTT Pay also functions as a payment gateway. It securely transmits payment information from your point-of-sale system to the payment processor and financial institutions for authorization. As a payment gateway, OTT Pay enables businesses to accept online and in-person payments safely and efficiently while maintaining compliance with security standards like PCI DSS.

Yes, OTT Pay is a payment processor. It enables businesses to accept and process payments from customers through various methods, including credit and debit cards, mobile wallets, and alternative payment methods such as Alipay and WeChat Pay. OTT Pay handles the secure transmission of payment data between your business, the customer, and the financial institutions involved.

Yes, OTT Pay is a licensed third-party payment processor. It securely handles transactions between your customers and financial institutions, enabling you to accept a wide range of payment methods—including credit cards, debit cards, digital wallets and alternative payment methods—both online and in-store.

Yes, OTT Pay solutions support a variety of integration methods, and in most cases, can work alongside or integrate with your existing payment system. OTT Pay’s technical team can work with your business to assess compatibility and ensure smooth onboarding without disrupting your current POS or e-commerce infrastructure.

With OTT Pay’s online and in-store payment solutions, merchants can accept major credit and debit cards, plus popular international e-Wallets. 

OTT Pay can help your business accept: 

• Visa 

• Mastercard 

• Interac 

• American Express 

• Diner’s Club International 

• JCB 

• Google Pay 

• Apple Pay 

• Samsung Pay 

• Alipay 

• WeChat Pay 

• Union Pay 

The OTT Pay Smart POS Terminal is OTT Pay’s all-in-one, smart point-of-sale machine. It accepts the widest range of payment methods in a single device and provides reporting insights to merchants. Learn more about the OTT Pay Smart POS Terminal at www.ottpay.com/pos-terminal/

The OTT Pay Smart POS Terminal accepts the widest range of payment methods in a single, powerful device.   

Accept: 

• Visa 

• Mastercard 

• Interac 

• American Express 

• Diner’s Club International 

• JCB 

• Google Pay 

• Apple Pay 

• Samsung Pay 

• Alipay 

• WeChat Pay 

• Union Pay 

Supports all payment technologies: 

• QR Code 

• NFC Contactless 

• Magnetic Swipe 

• Chip Insert 

Additional features: 

• Portable 

• Fully PCI and EMV certified 

• Wi-Fi Connectivity and/or 5G SIM 

• Dynamic pin pad 

• Able to support third-party apps 

• Advanced analytics and reporting features 

• Optional charging cradle with ethernet and USB ports 

Learn more about the OTT Pay Smart POS Terminal at www.ottpay.com/pos-terminal/

OTT Pay Smart POS Terminal can accept: 

• Visa 

• Mastercard 

• Interac 

• American Express 

• Diner’s Club International 

• JCB 

• Google Pay 

• Apple Pay 

• Samsung Pay 

• Alipay 

• WeChat Pay 

• Union Pay 

Yes, in addition to accepting major credit and debit cards, the OTT Pay Smart POS Terminal can also accept alternative payment methods like digital e-Wallets and international payment methods such as Alipay, WeChat Pay, and Union Pay.

OTT Pay Smart POS Terminals require an active internet connection (Wi-Fi, Ethernet, or cellular) to process payments securely in real time. Without internet access, the terminal cannot communicate with the appropriate payment network, so transactions cannot be authorized or completed.

The OTT Pay Smart POS Terminal is available to merchants through a rental (leasing) model, which provides flexibility, ongoing support, software updates, and enables businesses to access the latest payment technology without incurring significant upfront costs. However, purchase options are also available for merchants who prefer to own their terminal outright. For details on pricing and rental terms, please get in touch with OTT Pay or your sales representative.

OTT Pay offers flexible integration options to suit your website and business needs. The integration process is straightforward, with detailed developer documentation and support available to help you set up payment processing quickly and securely. Whether you’re running an e-commerce store, subscription service, or digital marketplace, OTT Pay’s integration options are designed to fit your workflow while maintaining PCI compliance and data security.

OTT Pay’s e-Commerce solution can accept: 

• Visa 

• Mastercard 

• Interac 

• American Express 

• Diner’s Club International 

• JCB 

• Alipay 

• WeChat Pay 

• Union Pay 

Yes, OTT Pay is fully PCI DSS compliant. We hold Payment Card Industry Data Security Standard (PCI DSS) certification, ensuring that all payment processing and data handling adhere to the highest industry security standards. This compliance demonstrates our commitment to safeguarding sensitive cardholder information and providing a secure payment environment for our merchants and their customers. Whether you’re accepting payments online, in-store, or through mobile channels, OTT Pay’s PCI-compliant infrastructure helps minimize your risk and supports your own compliance efforts.

Typically, funds from customer payments are settled and available within 1 to 3 business days, depending on your merchant account setup and banking partner. However, many businesses experience faster access, with funds available as soon as the next business day. Transactions processed on weekends or holidays, may take slightly longer due to bank processing times. OTT Pay also offers flexible settlement options to fit your business needs, so you can manage cash flow with confidence.