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How to Integrate Payment Gateway in your Website?

by Adam John I am blogger in Zenesys

Ecommerce businesses share a common top priority i.e. to safeguard their customers interests while providing them with an easy-to-use payment system. This is precisely why the vendor you choose must meet both your company's and your consumers' needs. Over 21% of customers depart websites with a lengthy checkout process, and 17% abandoned websites that are not secure.  

Therefore, integrating a payment gateway into your store will increase the security of your site while also improving the user experience. In this article, we will discuss how payment gateway integration is done in a website and how it works along with the types and costs of payment processor.
 

What is Payment Gateway

Similar to what the term suggests, payment gateways offer customers a convenient method to checkout with their items at ecommerce stores. During the payment process, data is encrypted to ensure security and some companies immediately add tax if they suspect fraud. Payment gateways operate in the following manner: 

  1. A customer places an order by entering their bank card information and clicking "pay now". 

  2. The customer's web browser uses a secure socket layer (SSL) to encrypt the debit/credit card information for security reasons. 

  3. Payment gateways receive information from the merchant using SSL. 

  4. Payment gateways forward the information to the relevant payment processor. 

  5. A banking card association will then receive this information sent via the payment processor.  

  6. Any responses received will be carried forward by these processors to the payment gateway. 

  7. Using the payment gateway, both the customer and the business will receive the response and know if the transaction is approved or not. 

  8. The merchant submits all approvals to the bank card company in the batch form later. 

  9. The credit card company transmits all accepted credit card transactions to the merchant. 

Keep in mind that payment gateways incorporate three primary aspects: reporting, authorisation and settlement. 
 

Read more: The Top eCommerce Trends You'll See
 

Simple Ways To Integrate A Payment Gateway On Your Ecommerce Platform

 

Choosing a Payment Gateway

The first step would be to select a payment gateway out of the several alternatives available. The customer's bank card information is processed by sending it to the payment gateway's web server, which completes the transaction and delivers the confirmation back to the website. This is precisely why it's important for people and businesses to elect a payment gateway that meets their requirements conveniently. 
 

Consult Your Web Host 

Payment gateway services may be available from your web host or online store software supplier, which you can rapidly integrate into your suite. Visit the admin page on your ecommerce store to see if any other payment gateway options are present. You can also go through the site’s control panel for the same. 
 

Take the Pricing Structure into Consideration  

Regardless of what sort of payment gateways you wish to incorporate, these software will generally cost you a one-time fee or a monthly subscription charge. A few payment gateways even include small fees for varied transactions in their pricing structure. Compare prices to locate the service that best suits your requirements. 
 

Choose Between an External Gateway and a Direct Gateway

External gateways (also known as "redirects") direct your clients to a different website to complete the transaction. Direct gateways (sometimes known as "transparent") handle transactions within your store, allowing customers to remain on your site.
 

Apply for a merchant account  

Without possessing a merchant account, e-commerce businesses cannot receive payment transactions from people shopping on their platform. A merchant account enables you to link a payment gateway alternative and receive payment transactions simultaneously. You'll usually be charged per transaction if you have a merchant account. 
 

Create an Account  

Post creating an account, you can then exchange information regarding payment transactions between your payment gateway and your e-commerce store accordingly. 
 

How can Businesses Integrate a Payment Gateway on their Platform? 

 

Setup Your e-Commerce Store 

Most internet businesses will establish a webshop for their clients using third-party software. This program creates the ordering page and all of the code for sending payment information to the gateway.
 

Include Payment Options. 

The procedure varies for each provider, but in general, you'll need to enter your payment gateway credentials for each type of payment you plan to accept (Visa, Mastercard, etc.).
 

Check the Gateway's Functionality

Your payment gateway service will usually supply you with Test or Sandbox accounts. These allow you to make fictitious transactions to confirm that the payment system is functioning correctly. Before you make it live, remember to check it out.
 

How do Payment Gateways Safeguard Sensitive Banking Information?  

A payment gateway's capacity to safely transfer funds is a critical feature. Payment gateways should ensure that merchants are always paid when a purchase is made, reducing the risk of fraud and credit risk. To secure payments, payment gateways employ some of the following measures:
 

Security standards (PCI-DSS) 

Banking industries facilitate tons of security requirements when it comes to the usage of banking cards for expenditure. It ensures the security of payment solutions by requiring businesses to install firewalls on their internal networks, encrypt cardholder data, and prohibit cardholder data storage on discs or paper.
 

Encrypting Data 

Payment gateways primarily utilize data encryption to protect payments. Customers' card information is encrypted using a public key, which can only decode with the private payment gateway.
 

Authentication 

A ‘double verification’ sort of authentication mode has been quite common since the past few years where users generally receive a text on their contact number or email. You have to follow the formalities to validate yourself accordingly.  

In the next section, we will focus on the types of Payment Gateway, such as PayPal express, and the cost of payment gateway integration.


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About Adam John Freshman   I am blogger in Zenesys

8 connections, 0 recommendations, 27 honor points.
Joined APSense since, December 28th, 2021, From Frisco, United States.

Created on Nov 14th 2022 06:55. Viewed 177 times.

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