Payment Gateway Poland Provides Reliable and Authentic Payment Transaction
Online payments are an essential part of today's businesses. According to the 2019 Payment Methods Report, global online transactions will exceed $4.6 trillion by 2022, with online shoppers utilizing more than 140 online payment methods, each with its dedicated user base.
Every entity that accepts payments, whether in the form of sales, fees, wages, donations, or anything else, must move beyond cash. However, simply allowing online payments isn't enough to close every sale. Owners of e-commerce businesses must also make the online payment experience as user-friendly as possible.
Instantcharge is a leading payment gateway service provider in Poland. The company provides services to a wide range of businesses and provides simple payment gateway integration. For better risk management, the Instantcharge payment gateway has its fraud detection system. The system evaluates each transaction's risk level and recommends appropriate solutions, such as payment blocking.
What Are The Popular Payment Alternative Solutions In Poland?
Electronic wallets
Digital wallets, and emerging payment methods, store customers' account numbers and allow them to send and receive money online.
According to Worldpay's 2020 Global Payments Report, digital wallets are now the leading payment method for online transactions globally, accounting for 42 percent of all internet-based payments in 2019.
In China, a digital wallet was used in more than 70% of all online transactions. In comparison, that figure stood at 25% in Germany, 32% in India, and 24% in the United States — but those figures are expected to rise, according to Worldpay projections.
Credit Cards, Debit Cards, and other forms of Payment
Payment cards are the second most popular payment method in the global e-commerce industry. Payment cards include credit and debit cards, as well as less common options such as charge and prepaid cards.
Credit cards are the most commonly used card-based payment method, accounting for 24.2 percent of global online payments in 2019. Debit cards were a distant see alternative in Polandond, accounting for only 10.6 percent of transactions.
The majority of payment gateways have access to popular card networks such as Visa and Mastercard. These payment methods are adequate for getting started, but as your business grows, you may discover that restricting your customers to cards increases cart abandonment rates.
Payment cards are the second most popular payment method in the global e-commerce industry.
Electronic checks and ACH payments
Online ACH payments, which include e-checks, increased by 6.7 billion transactions in 2019. These payment methods are still growing in popularity online, and merchants frequently have questions about them. Let's define the distinction between ACH and e-checks.
Payment Methods Available Locally
Payment gateways that cater to local preferences, such as online/cash hybrids and bank transfers may be required depending on where you do business. SEPA Direct Debit in Europe, iDEAL in the Netherlands, and Giropay in Germany are some of the other unique local payment methods.
Cryptocurrencies
Cryptocurrencies such as Bitcoin, Ethereum, and Facebook's beleaguered Libra may appear to be obscure novelties, but people do use cryptocurrencies to make online purchases. According to the Worldpay Global Payments Report, this payment method currently accounts for less than 1% of total e-commerce transactions worldwide — but if your customers prefer blockchain-based digital money, it's a good idea to find a gateway that will allow you to accept cryptocurrency.
How does Online Payment Gateway Poland handle a transaction?
What is the function of an online payment gateway? The following is how a gateway assists a seller in accepting credit card payments online:
- A customer chooses an item to buy and proceeds to the payment stage, entering a credit card number and authorizing information.
- The gateway's software encrypts transaction data before securely transmitting it to the payment processor, which is typically a bank-designated "acquirer."
- The acquiring bank routes the payment request to card processing networks (again, with strict data security). These networks are run by major credit card companies, such as Visa and Mastercard.
- The card network verifies the card information, which adds another layer of security to the process. The payment request is then sent to the card's issuing bank.
- The issuing bank conducts another fraud check and confirms that the customer has sufficient funds to make the purchase. Then it accepts or declines the request and returns the decision to the payment gateway.
- The gateway notifies both the buyer and seller of the results. If the payment is accepted, the banks involved settle the transaction, which means they transfer funds from the buyer to the seller.
This entire process, from start to finish, is nearly instantaneous. (On the other hand, settlements can take a few days.) The gateway serves as a link between your customers, your website, and the payment networks that enable digital fund transfers.
Design for Mobile Devices
Instantcharge offers one of the most secure Payment Gateways Poland. Suspicious transaction detection software, 3D-secure, and PCI DSS level 1 compliance are all fraud prevention methods.
The company currently processes seven major currencies and can process over 200 more. Currency is converted instantly at the current bank rate thanks to Dynamic Conversion.