Online Payment Gateway International to make cross-border payment easy for global businesses
The internet is altering how we live, work, produce, and consume. With such broad reach, digital technologies cannot help but disrupt many of our existing business and government models.
We are entering the Fourth Industrial Revolution, a technological revolution fueled by a pervasive and mobile internet.
When almost everything is connected, it will change the way we do business and allow us to manage resources more efficiently and sustainably.
If you are a business owner, you can look for secure payments through a solution provider to improve your transactions. You can manage all of your payments as a merchant. When looking for international solutions, you can look for safe deals. If you own a business, you can make it more secure by using an Online Payment Gateway International for Online Business.
An online transaction's path
It's easy to overlook the complexities of an online transaction's path. To your customer, the transaction appears to be instantaneous. However, once he or she clicks "submit" on your website's payments page. The transaction leaves your online infrastructure and enters the payment ecosystem.
That ecosystem contains several steps, each of which requires a green light before displaying a payment confirmation message on the screen. Knowing each step in the payment ecosystem will help you make important decisions about how your business accepts online payments.
Payment Ecosystem
Shopping Cart
In a retail setting, the transaction begins when your customer places items in the virtual shopping cart on your website. The shopping cart is the user interface through which your customers review their intended purchases, enter payment information, and complete the transaction, resulting in a sale for your company. This can be a product or a service transaction. It could also be used to accept online payments for bills or donations. You can accept a variety of payment methods from your customers via your shopping carts, such as credit and debit cards, and digital wallets, and buy now, and pay later (BNPL).
There are numerous shopping cart options available to you. You can build your own from the ground up, or you can use an open-source platform or a pre-customized version with simple integrations and plugins.
The size of your business, the team you have to develop and manage your online site, the needs of your customers, your marketing plan, and other factors all play a role in choosing the right shopping cart. Scoping out your requirements for accepting online payments will assist you in selecting the best fit from the start or upgrading to the best one that will scale with your business.
Gateway for payments
The payment gateway collects your customers' credit card information after they submit payment in exchange for your product or service. At that point, the payment gateway authorizes the transaction. And sends it to the payment processor under security compliance protocols. Businesses can create their payment gateway, but it is more likely that they will find a payment technology partner to handle the payment gateway. And the subsequent step as the payment processor for them.
Processor of payments
The payment processor is a financial institution that manages the merchant's account. When the payment processor receives payment information from the payment gateway, it sends the transaction request to the appropriate card network.
Card Network
Card networks include American Express, Visa, Mastercard, and Discover. The card network's role is to transfer payment requests from the payment processor to the appropriate card issuer.
Issuer
The financial institution that issued the card—typically, the customer's bank—will validate the card details that correspond to an account at that financial institution. Before deciding whether or not to authorize the payment, it will also ensure that there are sufficient funds, or available credit, in the customer's account to complete the online purchase. And also that the card security information has been entered correctly.
The card issuer's decision is then communicated back through the ecosystem, from network to payment processor to payment gateway to the merchant website, where the result gets to your customer. If the transaction is approved, the customer will receive a purchase confirmation. If the transaction is not authorized, the customer is notified and given the option of retrying the purchase.
How to Accept Secure Online Payment Gateway International?
The next step in confidently accepting online payments is to provide your customers with a safe and secure online purchasing experience. Instilling trust in your customers can mean the difference between making and losing a sale. According to a recent Baymard study, nearly 20% of customers abandon their online shopping cart due to trust issues at checkout.
Here are a few ideas for reassuring customers and increasing credibility:
1. Obtain an SSL Certificate.
SSL, or Secure Sockets Layer, protects your checkout by encrypting your customer's transaction details. SSL is the industry standard for protecting online transactions for millions of websites.
This means a lot to your customers, who will know their transactions are secure. With a lock symbol in the browser's URL bar, you can indicate that your company has an SSL certificate.
2. Display Reliable and Secure logos
After you've gone through the process of allowing trusted financial brands like Visa, Mastercard, American Express, PayPal, and WeChat Pay to accept various forms of payment. Display their logos at your checkout and throughout your website to build credibility with your customers. And reassure them that their money is being handled properly.
3. Demonstrate that you are PCI Compliant.
Every business that accepts credit cards as payment for goods or services must be PCI compliant. It's a certification that shows regulators that you're handling and storing your customers' payment information safely and securely. Card brands adopted the PCI-DSS to protect the public from cardholder theft and fraud by requiring businesses like yours to meet minimum security levels when storing, processing, and transmitting cardholder data. Once you've achieved PCI compliance, use the PCI-DSS trust logo to inform your customers during the checkout process.
Accepting online payments entails more than just putting a shopping cart on your website and hoping the money ends up in your bank account. You've learned how to accept online payments with a strategy that best aligns with your company's vision now that you understand the transaction path.
Why choose Instantcharge for your acquiring global payments?
Instantcharge is an Online Payment Gateway International provider that offers a solid infrastructure and security to ensure the smooth, quick, and secure transfer of transnational data. We are a stand-alone payment gateway solution provider that provides fast and secure integration into your business ecosystem through features such as embedded payment forms and advanced checkout, which allows for immediate payment processing and thus increases the conversion rate.
We have merchants all over the world. Our payment gateway solution enables secure payment acceptance, a streamlined experience, scaling, and a variety of other value-added features. It is one of the best platforms for businesses that need to accept online payments and offer paid subscriptions.
These are some of the features that you can easily get from us.
PCI level 1 Defense
Manager of subscription plans
Customer service representative
Reduce the chargeback ratio.
Anti-fraud software
Subscriptions based on usage/seats
Models of billing
Get in touch with us to know more about our services.