What Is Payment Gateway?
What Is a Payment Gateway?
The online payment service where a fund is transferred between an eCommerce merchant and a client, where a percent of the transaction’s value is charged is called a payment gateway (PG). The Gateway also helps to secure all the details of the payment.
For a safe and secure payment process, the payment gateway provider acts as a mediator between e-commerce shops and banks. It is responsible for permitting your customer’s payment into your accounts, also helps to put its seal of approval during transactions.
How To Integrate A Payment Gateway For eCommerce
The payment gateway has limitless factors for e-commerce and these are :
1. To understand that with a payment gateway integration solution that does not have your own website to be PCI compliant. Basically, you can go with a hosted or direct posts or integrations if you are not a big business.
2. With the best eCommerce payment gateways, the characteristics are compared in terms of:
• Currencies serviced
• Countries supported
• Credit cards (Visa, Master Card, AmEx, etc) supported
• Fee structure:
• Monthly fee
• Transaction fees (Local & International)
• Visa Checkout, WeChat, Apple Pay, etc are available for payment
3. Once you have nominated the best fitting solution for your business check for similarity with your website platform.
4. The method of integration such as Hosted, Direct Post, or Integrated – remember, you need to be PCI compliant is to be decided.
5. If you have chosen the payment gateway for an eCommerce website apply for a merchant account.
6. Obtain PCI DSS compliance.
7. To access full documentation on how to integrate your selected solution with your website Google search “Payment Gateway X + Developer”.
Best Payment Gateway Providers
• Amazon Payments.
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