PHP has transformed the entire world of website building
February 06th, 2020
After the inception of ecommerce websites, there is no looking back for online shopping and transaction. Just having an e-store is not the end of your work as to be competitive in the market you have to keep the site updated at all times with the newest technologies developed. Apart from your personal objective, the general aim is to provide a seamless experience to customers who are pondering on purchasing products from the ekart. Most of the businesses are emphasizing online transactions and hence you should be ready to face stiff competition. From the other elements present in a website, a crucial one is the payment gateway as it can play havoc on a customer if the transaction doesn’t go through smoothly. In the world of global marketing, it is also important that an ecommerce website has international payment gateway integration to welcome customers from different parts of the world.
Before digging any further, it is good to know what a payment gateway is. This is exclusive an online affair that processes any kind of payment done online. It can accept or decline a payment transaction done through any modes. The entire environment along with the internet connection is secured and monitored relentlessly to scoop any flaws and disregard it. This is an important process to establish a connection between the merchant and the customer. Also, the issuer bank is involved in the process who accepts or declines the payment upon verification.
When a customer tends to pay online on any website there are a set of procedures followed and repeats itself every single time. When a customer pays online, it takes 1 to 4 days of the payment to reach the company depending on the collaboration with the payment gateway provider. Once a customer pays the stated amount, the gateway has to take approval from some firms that are the card company, issuing bank, receiving bank and the connector that connects the banks, card company and the payment gateway. The browser that the customer uses converts the information in an encrypted form and passes them forward to the merchant’s webserver. This way the transaction is performed securely through SSL.
Modern or classic: You need to decide whether you want a modern or a classic setup. If you select the classic gateway, you need to apply directly to the merchant account but with the modern gateway, you don’t need any approval. Modern gateways are easy to set up but come with higher charges.
Encryption standards: The sensitive payment details of customers must stay secure. A slight loop can crumble the image of a company and affect customers greatly.
Compatibility: The payment gateway must be compatible with the website and your requirements. Depending on the needs, a perfect gateway should be selected.
Speed: Gateways offer different intensities of speed. The speed depends on a number of factors like increase average user experience, fast processing of payments, secure money and speeding up the process of realising the money.
If you are pondering on instilling online payment system in your website, a secure payment gateway is obvious. The payment gateway acts similar to a POS system that is used in shopping malls and other retail stores for transactions through credit and debit cards. The payment gateway authorises payment transactions between the customer and seller.
The most obvious reason for incorporating payment gateway is securing the environment and protecting the transaction from any fraudster or cyber-attacks. The customer is free to use any sort of international payment gateway that is integrated into the process. The payment gateway ensures that details of the customer’s account and credentials are encrypted and stays secured.
Apart from the customer’s details a payment gateway also secured the merchant data as well. For the process to take effect the sellers have to incorporate SSL certificate and PCI-compliant on the website. There are different kinds of payment gateways that can be linked to e website. Some of the examples include Paypal, Stripe, CCAvenue, PayU, Rezorpay, Zippay, Afterpay, WorldPay etc.
Paypal: This is one of the most used payment platform available in more than two hundred countries. The benefits include international and domestic credit card support, automatic conversion of currency, no withdrawal fees, immediate activation of Paypal merchant account etc.
CCAvenue: This gateway is used widely in India. It can process more than two hundred payment modes including six credit cards. Along with it, the transaction can include any of the twenty seven major global currencies. Lastly, the setup is completely free of cost.
Stripe: Through Stripe, one can easily accept payment online. Account setup takes only 10 minutes and you can start receiving payment instantly. There is no need for redirection to any bank website for processing of payment. It is protected with a 3D secure pin, hence there is no worry of any fraudulent transaction.
WorldPay: It is a remote payment method that ensures high level security and is used in about 120 countries around the world. Benefits include multi-lingual text, processing of multiple currencies, splitting of payment into installments, manual and automatic payment acceptance etc.
What is the difference between Hosted and Integrated payments gateways?
You can opt for any one of the two payment gateways that are presently used – Hosted Payment Gateway and Integrated Payment Gateway. The hosted gateway redirects the customer to a payment platform for transactions. It has the approval of PCI and secures the data completely. However, it can slow the process and customers have to wait long before realisation of the payment.
Contrarily, an integrated payment gateway uses the website’s API for the entire transaction. The customers are not redirected to any other platform and until the realisation of payment the customer stays in the home website. Yet, the catch is that the website is responsible to secure the data of customers.
With all these facilities plying in the virtual world, it has become important for online businesses to integrate payment gateways.
If you like to know more about payment gateway reach out to us by using our website http://teqizer.com or mail us firstname.lastname@example.org