Category Archives: Payment Intergration
PayPal- Your Pal for Online Transactions
For the people who indulge in online payments and money transfers PayPal offers a very convenient alternate. This important element of an e-commerce business allowing payments and money transfers to be made through the Internet, serves as an electronic alternative to traditional paper methods such as cheques and money orders. You can get entitled to online transaction facilities through PayPal after getting registered on the official website. With the e-commerce and online trade gaining momentum, more & more transactions take place online and their safety subject to being compromised, PayPal has emerged as a very popular online transaction option. Many online purchases are now made through PayPal via emails.
PayPal performs payment processing for auction sites, online vendors, and other commercial users for which it charges a fee depending on the payment option used, currency used, the amount sent, the country of the sender & recipient, and the recipient’s account type. A PayPal account can be funded with an electronic debit from a bank account or by a credit card.
Getting Started
For the most easy and secured online transactions, PayPal is a trusted name. One can log into the official website of PayPal and sign up with a valid email account and then access thousands of small and big online stores including big names like eBay.
There are three types of accounts namely Personal, Premier and Business, meant for different users. Personal Accounts are used by people who wish to make a payment online while Premier Accounts are for those who wish to get paid after selling their products online. The recipient of a PayPal transfer can request a cheque from PayPal, establish their own PayPal deposit account or request a transfer to their bank account. The Business Account is meant for merchants and traders who can make the payments via credit cards. You have to link and confirm your credit cards registration on the website and confirm to an email sent to you and then start the online transaction.
The Benefits
PayPal offers numerous advantages which include a Global Presence with 153 million accounts all over the globe. It offers high protection against the practices of fraud and cheating on the internet. PayPal offers a complexity free, faster and easier money transaction system. It is free for buyers and for sending money to others and only charges you for receiving money.
The network of PayPal is spread over 190 markets in 24 currencies. With so many benefits, you can surely trust PayPal as a pal for safe and faster online transactions across different countries of the world.
Choose the Right Merchant Gateway
Any business whether online or brick or mortar needs a service that takes care of the transactions with proper security. The payment gateway or the merchant gateway is an online service provider that sanctions payments for online retailers, e-businesses especially shopping carts, etc. Any ecommerce website requires a merchant gateway to conduct its business online.
What does a payment gateway do?
It basically enables the easy transfer of information, related to the payments, between the bank and the payment portal. It acts as a safeguard for the transactions that are carried out between the merchant and the customer by encrypting the important details of the credit cards.
Why is it essential to choose the correct gateway?
Fair and secure transactions are the key to a progressive business. If the purchase details are not kept safe by a business then the customer tends to lose his/her trust in that business. The credibility of a business begins to waver. So, it becomes necessary to choose an efficient and secure merchant gateway system so as to carry out the money deals with ease.
Why a Merchant Gateway?
> Helps in faster dealings
> Safer transactions
> Facilitates 24×7 online purchase
> Reduce fraud cases
What are the things that have to be taken into consideration while selecting a payment gateway?
Below we have given some points:
Ø Shopping Cart Integration & Internet Payment Gateways
Ø Address Verification System
Ø Merchant Payment Gateway Integration
Ø Before hiring a programmer ensure
Ø Popular Internet Payment Gateway Service Providers
Shopping Cart Integration & Internet Payment Gateways:
- Ask the payment gateway providers about the list of shopping carts, which their gateway supports. If you already have a shopping cart package then search for a compatible gateway for it.
- Your merchant gateway must have a language support i.e. PHP, ASP, etc.
- Also the gateway must accommodate additional disk space or the bandwidth.
Address Verification System:
This is an important feature that a payment gateway must possess. An AVS enabled gateway helps in processing secure transactions. It verifies the addresses provided by the credit card holder with the records of the credit card company. Do check the working of the AVS before it is used by the customers.
Merchant Payment Gateway Integration:
Assistance of a professional programmer might be needed in payment gateway integration. This service can either be availed from your web host or a reliable freelance programmer. All the required customizations are carried out by the programmer.
Before hiring a programmer ensure:
Ø That he has references or a data carrying his earlier works.
Ø There are no complaints against him in the business bureau.
Ø The contract made is in place.
Popular Internet Payment Gateway Service Providers:
Conduct a market research before choosing a payment gateway service provider. Select the one that needs less amount of customization. E.g. of renowned providers of merchant gateways are: PayPal, Google, etc.
Thus payment gateway is one of the vital components of an ecommerce website so don’t not just hurry and choose a wrong package. Carefully think about all the above mentioned points and then opt for a merchant gateway. They are very important to reduce the fraud instances.
