A payment gateway is an e-commerce application that authorizes direct payment processing for e-business. The payment gateway may be provided by a bank or its customer s, but can be provided by a specialized financial service provider as separate service, such as payment service provider. Payment gateway facilitates this transaction by transferring key information between payment portals such as web enabled mobile device, website and the front end processing.

A payment gateway processor analyzes and transmits transaction data. Payment gateway authorizes the transfer of funds between buyers and sellers.

SECURE TRANSACTIONS

Payment gateway service ensures secure transactions sent over the Internet. It means that merchants will no longer worry about credit card scams and other fraudulent transactions. Payment gateway utilizes strong, 128 bit, SSL, industry-standard encryption system that effectively protects sensitive data. It’s virtually hack-free.

COMES BUNDLED WITH AN EXCELLENT PROGRAM

Payment gateway service often comes bundled with shopping cart software– a must-have program for online merchants. This allows the customers to select online items by clicking them and placing them on a virtual shopping cart. At the check-out, the shopping cart will calculate the total costs of all the selected items plus tax and shipping charges. It does the computing even though the merchant is not physically present at the time of transactions.

WIDER CUSTOMER BASE

With payment gateway service, shoppers around the globe will have access to the merchant’s online store, thus making it available to a wider customer base.

ELIMINATE STORE SPACE REQUIREMENT AND OTHER COSTS

Brick-and-mortar shops need store space. A merchant will have to acquire some store space plus hire salesclerk to tend the shop. These endeavors require substantial capital outlay. An online store with payment gateway eliminates these unnecessary costs.

ERROR-FREE AND FASTER TRANSACTION PROCESSING TIME

Payment gateway service performs transactions much faster than manual processing. It therefore assures error-free computations and a much faster processing time. For customers, it means that they no longer have to bear long lines at the counter. They can complete the entire transaction process with a few clicks of a mouse.

COMFORT

No longer will customers deal with traffic jams, parking space and crowded store shelves to do their shopping. They can perform purchase transactions with an Internet-connected computer within the comforts of their home.

EASE

Shoppers can purchase items with just a few mouse clicks. Even a child, with the supervision of a mature adult, can perform online shopping and enjoy the experience.

CONVENIENCE

Unlike brick-and-mortar stores that have limited shopping hours, a merchant’s website remains open 24/7. Thus, customers can do their shopping even at odd hours or at their convenience.

SAFE

Credit card scam and fraud is prevalent in the Internet. But with online payment gateway, customers are assured of safe transactions. They know their personal data information remain confidential. They can shop online without any fear of hacking, phishing, identity theft, or other similar related fraud so rampant in the Internet.

• Understand what the gateway does.
• Check with your web host.
• Browse your option.
• Choose your compatible payemnt gateway.
• pay attention to fess & conditions.
• pick between an external or a direct gateway.
• Sign up for merchant account.
• Sign up for your choosen gateway.

Features

Multiple Payment Option

This feature will improves your business efficiency of handling many tasks in a wider range and fulfill the needs of your customers. It will make your clients able to pay your products or services through their selected payment gateways like PayPal, Authorize.net, Google Checkout and various other online payment gateways.

Efficient Customer Support Team

Presence of efficient customer support team in your business will spark the image and quality of your business service. Providing 24 hours service to your customers with technical support and customer assistance, will make them feel comfortable, reliable and trust your business in making a purchase regardless of what the distance will be.

Fraud Screening Feature

The Payment gateway enables your business to track misuse of credit card or debit card and screen fraud purchases. It will minimize such malpractices to a great extent that it will protect you from suspicious transactions and larger charge back costs. Further, this will alert merchants on any fraudulent representation and prevent it for about 80 to 90%.

Secured Server

Having a secured server to handle and record the confidential information of your customers will enhance the efficiency of your service and the accuracy of your approach in dealing with multiple requirements and tasks of your customers. This will give a sense of security to your business in increasing the growth of large scale business.

features of Free Add-on

Free add on features should be provided to make your online business easier in operating and monitoring. These features will help you to prevent wasting of money while making a payment in individual fees as well as provide a rich experience of confidence. Some examples of add on features are recurring bill, shopping cart, virtual terminals and QuickBooks.

User Friendly & Speedy in Processing

Last but not the least, make sure that your payment gateway is user friendly and speedy in processing. As this will save your and customer’s time and make your business to operate more easier. This will attract more visitors to have a glance at your business. Integrating a good payment gateway in your online business by considering some of these important features indicated above will make your online business reach the level of recognition with a good reputation. Therefore, the more your products and services get acknowledged for its effectiveness, the more you can generate sales and build a good relationship with your customers. A good payment gateway is an essential tool in the electronic transactional process between customers, business and the banking institutions.