Integration of payment gateways is crucial for successful eCommerce businesses online. It is equipped with features that make it easier to use electronic payment processing for merchants as well as eCommerce stores.

Payments online will hit $523 billion across the USA in 2020. About 70 percent of Americans make purchases online.

You may be using an online payment processor to handle payments on your eCommerce site or plans to create online stores, you should be researching the best payment gateways to use for online shopping platforms or researching the possibilities to integrate more payment gateways so that you can expand your business to foreign customers and.

To make the process somewhat easier to understand, we’ve analyzed several factors and created the top solutions to payment gateway integration for eCommerce.

What is Payment Gateway?

The payment gateway can be described as an online service it facilitates a transaction through the transfer of details of the transaction from the website (such as mobile phone, website or IVRRS) and payment processors or the bank that is acquiring.
  

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eCommerce stores should incorporate applications programming interfaces (APIs) which connect to the online store via programming that allows their functions.

How does an online payment gateway work?

The aim is to make processing payments quick, secure and efficient. This is a step by process guide to explain the process of payment Gateways operate: 

• It begins at the point customers place an order with an online store and then fill in their credit card information.
• The browser on the web encrypts data to be transmitted to the web server of the vendor.
• The gateway sends transaction data into the processing company used by the vendor’s bank of acquisition.
• The processor for payment sends transaction data to the card association.
• The bank that issued the credit card examines an authorization application as a “yes” or “no. “approves” either “denies.”
• The processor then transmits an authorization that relates to the consumer and the merchant for payment to the gateway.
• When the gateway receives the response, it sends it to the site/interface that will take the payment.
• Clearing Transactions can only be activated when the merchant has successfully completed their transaction.
• The issuing bank converts”auth-holds “auth-hold” to the debit type, which permits the “settlement” to the vendor’s bank who is the acquirer.

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Security and Authentication related tasks performed by Payment Gateways Exemples of functions to detect fraud:

• Verification of address for delivery
• AVS checks
• Computer fingerprinting technology
• Analysis of the Velocity pattern
• Identification change detection
• Geolocation

Payment Gateway Integration for eCommerce Website: How it’s work

A customer who shops online is able to access a safe and secure possibility to purchase products from your online store and not only valued. For every business owner with an online presence, they ought to think about integrating several online payment options to boost sales.

In 2022 transaction value for digital commerce will be the sum of $5411,354.

By choosing the best payment gateway, you will simplify the process for customers to purchase your items. Once you’ve figured out the way payment gateway integration for ecommerce websites work, is the time to decide which payment gateway is best option the needs of the needs of your online store.

The criteria to consider and select a the payment method that will work best for you online store:

• Transparency of pricing
• Pricing consistency
• Processing charges for in-person transactions
• Fees
• It is easy to set up and cancelling an account
• The speed at which you can set up and closing an account is quick and easy.
• The time it takes to be able to receive funds after the transaction
• Customer support service

Binary Gateway payment processor for online ecommerce businesses

Integrated payment systems are the ideal choice for online stores since they connect via API’s, they provide a smooth, simple for users to operate and a seamless experience since the user does not have to leave your store in order to make payment or make orders. In addition to this it’s the most efficient from a conversion point.

The benefits of the Payment Gateway Integration for eCommerce

• Automated payment processing
• Security of data
• Security of transactions
• Better workflow management
• Reduce errors
• User-friendly
• Feature-rich solutions
• Higher success rate for successful payments
• Individualized experience
• Integration of international payments
• Multiple payment modes

Summary

Whatever option you decide to go with Whatever you choose, now you have the most basic solutions to the problem of adding an online payment system to your website. Start by thinking about the most appropriate solution for your specific circumstance.

How many transactions each month do you have? And how many you anticipate having in the near future? Planning is just as important as ever in this particular situation. Take a look at different options and to see if they fit to your goals for your business.

Keep in mind that sites that integrate payment gateways are more user-friendly for customers except if you own a non-profit website or similar. If you’d like more help on integration of payment gateways get in touch with Binary Gateway.

We’re always eager to talk about the things we are aware of, and offer suggestions for solutions we are able to assist with payment solution.