How do payment gateways work technically?
The growth of e-commerce became possible due to payment gateways - the services that make online purchases instant. If you already own, or are about to create an online shopping project, the right gateway will be a crucial contributor to your success.
Not all payment gateways are the same. Compatibility, payment methods, supported currencies and different fees… How to choose a payment gateway to fit your needs? This article will answer your questions.
What is a payment gateway and how does it work?
According to Wikipedia, a “payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payment processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.” In other words, it is the middleman between buyers and sellers, and is responsible for the quick and secure transfer of money.
The payment gateway encrypts the sensitive data that are sent between the buyer, the seller and the bank. All sensitive data are stored on a secure server of the gateway.
Do you need a merchant account to receive payments?
A merchant account is a special bank account that enables a business to receive different kinds of payments including credit and debit card payments directly. Earlier, payment gateways required all online store owners to have such an account. However, modern technologies enable the withdrawal of funds from the buyer’s account, with the proceeds deposited into the sellers account.
Gateways that don’t require a merchant account seem to be a good choice, since they don’t force you to create a new bank account. However, they usually charge higher fees so be ready to pay more for the convenience.
If opening another bank account isn’t an issue for you, a classic payment gateway paired with a merchant account is a good choice. You will spend more time setting up the system, but you’ll save a lot in a long-term perspective.
Do you prefer a hosted or integrated gateway?
The difference between these two types of payment gateways is that the integrated gateways let your buyers enter their payment data while they are on your website; the hosted gateways redirect users to the payment processor’s platform.
Acardpay, for example, is a classical example of a hosted gateway. The users have to enter and confirm their payment information on the page of the service. The benefit of such an approach is clear. The buyers believe PayPal to be a reliable service that can be trusted with their sensitive data, and are therefore more likely to complete the checkout and confirm the payment.
An integrated gateway allows users to input their payment data without leaving your website. For them this is a seamless process. But this type of payment gateway will work well only if your website is secure enough, since all payment details will be stored on your server.
Is the payment gateway easy to integrate with your website?
Some payment gateways offer simple integration with the e-commerce websites. In some cases this means that the integration can be performed without the programming skills. All you have to do is paste the piece of code with the API key provided by the gateway in your webpage. After this, the payment button will appear. When the button is pressed, the buyer will be redirected to the website of the payment system to enter data required to complete the payment.
As you may have already guessed, such an easy integration is possible only in case of hosted gateways. The changes are done only on the frontend of your website. All the internal processes occur on the gateway’s server.
The integrated services require the work of a professional developer, since the processes will be run in the backend of your own website. The backend integration with the API of the payment gateway enables your website to accept, process and send the data to the payment system, as well as process the result of the payment and update customer data in your system.
Integrated payment gateways require the work of a developer. The hosted gateways are usually easy to integrate, and by following the detailed instructions provided by the gateway you will be able to do this yourself.
What are the payment gateways fees?
The costs of the payment gateway will play a significant role in your choice of service provider. Payment gateways usually have different types of fees and it is not easy to choose the most appropriate one. You should pay attention to the following types of fees:
Setup fee/registration fee (one-time payment);
Monthly fee;
Transaction fee/payment processing fee/credit card processing fee (charged as a percentage or a fixed fee on every transaction);
Chargeback fee.
The fees may change according to how your business grows. The companies sometimes offer lower fees for large clients. That means, the more transactions your payment gateway processes from your website or app, the lower the transaction fees will be.
Some of the popular payment gateways offer a free setup, while some charge a one-time payment up to $50. The transaction fees are usually 2.9% + $0.30 and can be higher or lower, depending on the service provider.
A stable payment gateway is an important tool for developing a business on the internet. Choosing the wrong service provider may frustrate your customers and prevent your business from growing. Read this article and find out more informations about payment gateway
Not all payment gateways are the same. Compatibility, payment methods, supported currencies and different fees… How to choose a payment gateway to fit your needs? This article will answer your questions.
What is a payment gateway and how does it work?
According to Wikipedia, a “payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payment processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.” In other words, it is the middleman between buyers and sellers, and is responsible for the quick and secure transfer of money.
The payment gateway encrypts the sensitive data that are sent between the buyer, the seller and the bank. All sensitive data are stored on a secure server of the gateway.
Do you need a merchant account to receive payments?
A merchant account is a special bank account that enables a business to receive different kinds of payments including credit and debit card payments directly. Earlier, payment gateways required all online store owners to have such an account. However, modern technologies enable the withdrawal of funds from the buyer’s account, with the proceeds deposited into the sellers account.
Gateways that don’t require a merchant account seem to be a good choice, since they don’t force you to create a new bank account. However, they usually charge higher fees so be ready to pay more for the convenience.
If opening another bank account isn’t an issue for you, a classic payment gateway paired with a merchant account is a good choice. You will spend more time setting up the system, but you’ll save a lot in a long-term perspective.
Do you prefer a hosted or integrated gateway?
The difference between these two types of payment gateways is that the integrated gateways let your buyers enter their payment data while they are on your website; the hosted gateways redirect users to the payment processor’s platform.
Acardpay, for example, is a classical example of a hosted gateway. The users have to enter and confirm their payment information on the page of the service. The benefit of such an approach is clear. The buyers believe PayPal to be a reliable service that can be trusted with their sensitive data, and are therefore more likely to complete the checkout and confirm the payment.
An integrated gateway allows users to input their payment data without leaving your website. For them this is a seamless process. But this type of payment gateway will work well only if your website is secure enough, since all payment details will be stored on your server.
Is the payment gateway easy to integrate with your website?
Some payment gateways offer simple integration with the e-commerce websites. In some cases this means that the integration can be performed without the programming skills. All you have to do is paste the piece of code with the API key provided by the gateway in your webpage. After this, the payment button will appear. When the button is pressed, the buyer will be redirected to the website of the payment system to enter data required to complete the payment.
As you may have already guessed, such an easy integration is possible only in case of hosted gateways. The changes are done only on the frontend of your website. All the internal processes occur on the gateway’s server.
The integrated services require the work of a professional developer, since the processes will be run in the backend of your own website. The backend integration with the API of the payment gateway enables your website to accept, process and send the data to the payment system, as well as process the result of the payment and update customer data in your system.
Integrated payment gateways require the work of a developer. The hosted gateways are usually easy to integrate, and by following the detailed instructions provided by the gateway you will be able to do this yourself.
What are the payment gateways fees?
The costs of the payment gateway will play a significant role in your choice of service provider. Payment gateways usually have different types of fees and it is not easy to choose the most appropriate one. You should pay attention to the following types of fees:
Setup fee/registration fee (one-time payment);
Monthly fee;
Transaction fee/payment processing fee/credit card processing fee (charged as a percentage or a fixed fee on every transaction);
Chargeback fee.
The fees may change according to how your business grows. The companies sometimes offer lower fees for large clients. That means, the more transactions your payment gateway processes from your website or app, the lower the transaction fees will be.
Some of the popular payment gateways offer a free setup, while some charge a one-time payment up to $50. The transaction fees are usually 2.9% + $0.30 and can be higher or lower, depending on the service provider.
A stable payment gateway is an important tool for developing a business on the internet. Choosing the wrong service provider may frustrate your customers and prevent your business from growing. Read this article and find out more informations about payment gateway
I moderni orologi Panerai replica olio provengono dal petrolio e sono costituiti da una catena di idrocarburi chiamata paraffina. Questa differenza significativa di grasso, molecole di olio con atomi di carbonio e da 15 a 20 molecole di grasso contenenti da 20 a 25 atomi di carbonio dovrebbe essere parte del forte problema tecnico dell'orologio è quale olio, ma è richiesto il principio di base dell'alta velocità e della coppia bassa per utilizzare componenti leggeri a bassa velocità e coppia elevata con lubrificanti richiedono una lubrificazione a olio pesante. In breve, il primo include una ruota del grilletto, un grilletto del perno della ruota e denti, mentre il secondo include una molla, la prima e la seconda trasmissione
Comments
Post a Comment