Getting Started


How do I get started?

In order to trade online you need a payment gateway and a merchant account. Call PayVector today and speak to someone from our friendly team or send us an email

How much does PayVector cost?

PayVector's payment gateway is £20 per month or £200 per year* - we give you the option to choose your preferred method of payment. Competitive merchant account rates are secured through our partners Credorax, Global Payments, Valitor and WorldPay. Request a free quote or call PayVector and speak to somebody from our friendly team.

*exclusive of VAT

Which cards can I accept?

PayVector allows you to accept all major cards

What is a payment gateway?

A payment gateway connects your online shop to your merchant account and the banking infrastructure. When taking over-the-phone payments through the online portal, the payment gateway acts as a virtual terminal.

How do I set up a merchant account?

The application process is straightforward. Since it is considered a credit application, a certain criteria on your website, your offering and the company must be vetted in accordance with "Know Your Customer" requirements. Request a free quote or call PayVector today to somebody from our friendly team.

How do the payment gateway and merchant account work together?

The diagram below shows how the payment gateway and a merchant account work in conjunction for you to take payments online and/or over the phone.


The customer submits their their card details through your online shop or over the phone to you via the virtual terminal. The card details are securely sent to the gateway for fraud screening and authorisation. The customer card details are then securely sent to the acquiring bank (merchant account provider) to check with customer's card issuer that the funds are in their account to make the payment. The funds are then settled into the Merchant's business bank account by the acquiring bank.

Managing My Payments


How do I track my incoming payments?

PayVector's Merchant Management System (MMS) is your online portal that allows you to track your transaction history, issue refunds, take repeat and scheduled payments and much, much more! Register for a free test account today!

How do I take scheduled payments?

Taking scheduled payments is easy through the Merchant Management System (MMS). Using the menu bar across the top of the page select Transaction Reporting and then click Transaction History from the drop down box. Click the Set-up A Scheduled Transaction Icon . This will open a page that looks like the following: 

Click on the Calendar Icon  and pick the date you wish the scheduled transaction to be taken. Then select the date you would like the schedule to expire, which for one-off payment would be the same date the payment is due to be taken. You can then set the amount, currency, transaction type and reference. You can also add a description if you like. Once completed, click the Create Scheduled Transaction button. You should then see a green confirmation box which indicated the scheduled transaction has been created. 

 

For more information on managing, editing and deleting scheduled transactions, see pages 28 and 29 of the MMS Walkthrough

How do I issue a refund?

Refunds can be issued easily through the Merchant Management System (MMS). Using the menu across the top of the page, select Transaction Reporting and the click Transaction History from the drop down box. Find the transaction that you wish to refund. You can either choose a date or use the Search Icon . You must select the transaction and then click the Refund Icon  to open the refund page. You will see the following page:


You are able to process a full or partial refund by editing the Amount. Once you are happy with the amount to be refunded, click Submit for Processing. A message will be displayed to confirm that the refund has been successful and will appear at your Transaction History page.

Please see page 27 of the MMS Walkthrough for more details on refunds.

What is PayByLink and how do I set it up?

PayByLink lets you invoice your customers by sending them a link to a secure payment page via email.


Taking a PayByLink is easy through the Merchant Management System (MMS). Using the Menu bar across the top of the page select Payments and then click PayByLink Admin from the drop down box. This will open a page that looks like this:


 

Simply enter the amount you wish to invoice your customer,the transaction type, a reference for the transaction and the customer's email address. PayVector emails your customer a unique link to a secure payment page.


For more information on managing, editing and deleting scheduled transactions, see pages 32-37 of the MMS Walkthrough

Merchant Account


What is a merchant account?

A merchant account is a type of bank account that allows you to accept card payments. PayVector can set you up with a merchant account through our partners Credorax, Global Payments, Valitor and WorldPay. Request a free quote or call PayVector today to speak to someone from our friendly team.

How do I set up a merchant account?

The application process is straightforward. Since it is considered to be a credit application, certain criteria on your website, your offering and the company itself must be vetted in accordance with "Know Your Customer" requirements. Request a free quote or call PayVector today and speak to someone from our friendly team. 

How does my money get settled into my bank account?

Your money is settled into your business bank account through your merchant account provider. Your funds will reach your designated account within 3 to 7 days, depending on the pre-agreed time between you and your merchant account provider. For more information about how PayVector can help you set up a merchant account, request a free quote or call PayVector to speak to somebody from our friendly team. 

How do I know how much money I will receive?

You can keep a record of your transactions by using your online account management tool, which is provided by PayVector and your merchant account provider. For more information how PayVector can help you set up a merchant account, request a free quote or call PayVector to speak to somebody in our friendly team.

What is a MID?

Your Merchant Identification Number - or MID - is a unique number that connects your payment gateway to your merchant account. Merchant account providers issue separate MIDs for each different capture environment. With PayVector, your MID can either be an ECOM MID (e-commerce), MOTO MID (mail order telephone order), and/or CP (cardholder present), depending on how you wish to accept transactions. It is important to note that you will need to contact American Express if you wish to accept AmEx cards because they issue their own MIDs.

Does my business need to be a registered limited liability company?

Your business does not need to be a limited liability company. PayVector accepts sole traders, partnerships, LLPs, PLCs, LTDs, charities and others. 

Do I need a business bank account?

Yes. Your funds will need to be settled into a business bank account. This includes sole traders, who should have a business bank account, separate from their personal bank account. 

Why are card payments from my customers declined?

Cards can be declined for a number of reasons, such as the customer not having enough funds on the card they wish to pay with, or the card being blocked by the customer's bank. In both situations the customer should contact their bank.

 

Card Declined CV2 means that the CV2 for the card that the customer was using for the transaction was incorrect. The CV2 is found on the back of the card. You should try making the payment again with correct details. If it fails again, the customer should contact their bank.

 

Card Declined AVS means that the card billing address does not match the address details held by the bank. You should try again with correct address details. If it fails again, the customer should contact their bank.


Card Declined 3D-Secure means that the customer input their 3D Secure password incorrectly. The customer should try again with the correct password. If this fails again, the customer should contact their bank. 

Fraud Management Tools


What is CV2 and where can I find it?

CV2 is the 3 or 4 digit number that can usually be found on the back of the cardholder's debit or credit card. Only the card issuer is allowed to store this number in their database.


The CV2 fraud check ensures that the person who makes the transaction has physical access to the card at the point of purchase.

What is AVS?

AVS stands for Address Verification System. During this check, PayVector matches the address given at the point of purchase against the address registered with the card issuer to detect possible fraud.

What is 3D-Secure?

This authentication checks the password that the cardholder has registered with the card issuer and is only known by the cardholder.


The benefit of this check is that if a transaction is 3D-Secure authenticated, the liability for the transaction is shifted from the Merchant to the card issuer. Therefore, even if the transaction is fraudulent, the financial burden is not worn by the Merchant.