Online Payment Gateway Integration for Safe and Reliable Payment Processing
Nowadays, online shoppers expect a better checkout experience. A solid e-commerce payment gateway can assist businesses in accomplishing this.
E-commerce payment gateways allow businesses to secure payments while also providing a positive customer experience at a low cost.
However, with so many payment gateway providers flooding the fintech space, picking just one can be difficult.
Every company wants to be safe and provide their customers with a reliable payment method while also catering to their preferences. Furthermore, businesses require payment gateway integration that is compatible with their CMSs.
Instantcharge has recently emerged as one of the most popular e-commerce platforms among businesses looking to go online. You've come to the right place if you want to learn Online Payment Gateway Integration with eCommerce website.
Instantcharge accepts a variety of payment methods such as Wallet, all cards, net banking, UPI, EMI, and fixed deposit.
Why should you Integrate Instantcharge Payment Gateway into your e-commerce store?
A payment gateway is a secure method of accepting debit/credit card payments on your e-commerce store.
You can set up your online store to accept credit card payments without using a payment gateway. However, this method risks disclosing your customers' credit card information to third parties.
Furthermore, this is not a PCI-compliant method, which could lead to problems if your e-commerce store is ever compromised.
By incorporating the PCI-compliant gateway into your e-commerce store, you will give your customers the option of selecting from multiple payment methods. As an example,
- Credit and debit cards
- Internet Banking
- Wallet Paytm
- EMI Paytm Postpaid All UPI Apps
- Fixed deposit with Paytm Payments Bank and other options
Ensures PCI Compliance
Every e-commerce store that accepts credit cards as a payment method must adhere to PCI (Payment Card Industry) standards. It can be inconvenient to handle sensitive credit card information on your own.
To avoid this, use a third-party integrated payments system to make meeting PCI compliance standards easier.
Examine International Markets
The ability to adapt to changing market demands is essential for business expansion. Similarly, you require a payment gateway that can grow with your company.
Do you want to expand your business beyond the domestic market and serve an international clientele in the future?
You must integrate relevant payment methods in your e-commerce store to process transactions in foreign currencies in accordance with local regulations.
Increases Consumer Trust
Trust is essential to the success of any business. According to Shopify, 18% of online shoppers abandon their shopping carts because they lack trust in the website.
At the time of checkout, advertising the payment gateway you use is ideal. This will calm your customers' minds, gain their trust, and reduce abandoned carts.
Defends Against Fraud
Choose a payment gateway that has a secure payment infrastructure that can protect you and your customers from all types of fraud.
A Payment Gateway performs all necessary checks to ensure that your customers can transact with confidence on your online store.
Personalizes the Customer Checkout Process
Long and complicated checkouts with numerous re-directions can be frustrating for customers. They are also one of the primary causes of increased online cart abandonment.
Payment Gateway provides a variety of checkout solutions to help businesses achieve high conversion rates while providing a superior shopping experience to their customers
Consider the following Factors when Integrating a Payment Gateway
1. Your Intended Market
When selecting a gateway, you must first consider your target market. Some payment gateways may not be available in the countries where your users reside. If you have a global business, choose an international payment gateway that accepts multiple currencies.
2. The Products You Sell
Another important factor to consider when integrating a payment gateway in an Android or iOS app is the type of goods you sell.
For example, if you want to sell digital content through your mobile, you'll have to comply with Play Store or App Store policies regarding in-app purchases. As a result, you cannot use third-party payment gateway service providers in this case because all transactions must be made through Apple ID or Gmail.
3. PCI-DSS Compliance and Fraud Protection
Financial fraud and the internet are almost synonymous these days. As a result, when enabling mobile payments, a good protection system that prevents illegal actions is required.
At the same time, it is critical to ensure that customer banking data is routed through a payment system that adheres to security standards.
We are, indeed, discussing PCI-DSS (Payment Card Industry Data Security Standard) compliance. Obtaining a PCI-DSS certification can take months and cost a lot of money.
However, integrating a PCI-DSS compliant payment gateway that can safely store your customers' banking data and securely handle payment processing on its own servers would be a simpler route.
5. A Payment Gateway's Capabilities
For commercial purposes, most businesses must open a current/business account with a bank.
Yes, many payment gateway providers charge high commissions, which can be particularly painful for businesses with a high annual product turnover and a large number of customers.
Our payment gateway is simple to set up and integrate into your account. Furthermore, it would not be prohibitively expensive, which is ideal for small and medium-sized business owners.
6. Additional Features
Our Online Payment Gateway Integration, in addition to the intelligent business dashboard, provides a slew of additional features that businesses can enable quickly and easily.
Payment Gateway can provide you with anything payment-related that comes to mind. Link-based payments, bulk payments, refunds, recurring payments, real-time settlements, and so on.
The list is constantly evolving as we strive to add more features that address the specific pain points of all types of online businesses.
7. Costing
When selecting a payment gateway, one of the most important factors to consider is pricing. MDR (or the Merchant Discount Rate) is an important criterion for many online businesses.
MDR is the transactional rate charged by the payment gateway service provider to businesses for enabling online payments via various payment methods.
- Aside from MDR, there are a variety of other payment gateway fees to consider, such as: Purchase charges for PG
- AMC (Annual Maintenance Charge) is an interchange fee.
While pricing is important, making a decision solely on this basis is not a good idea. Before selecting a payment gateway, you should consider the other factors mentioned in this blog.
Instantcharge allows you to connect your current/business account to streamline payment acceptance from a single platform. Instantcharge is well-known for its highly competitive pricing on world-class solutions.
Our payment gateway includes an intelligent business dashboard that can assist you in the following ways:
- Real-time analytics and customizable reports are available.
- Create offers and no-cost EMI alternatives.
- Manage and view your settlements.
- Refunds are managed and initiated.
That too at a very reasonable price!