Skip to main content

How to Integrate Payment Gateway in your Website?

Ecommerce businesses share a common top priority i.e. to safeguard their customers interests while providing them with an easy-to-use payment system. This is precisely why the vendor you choose must meet both your company's and your consumers' needs. Over 21% of customers depart websites with a lengthy checkout process, and 17% abandoned websites that are not secure.  

Therefore, integrating a payment gateway into your store will increase the security of your site while also improving the user experience. In this article, we will discuss how payment gateway integration is done in a website and how it works along with the types and costs of payment processor.



What is Payment Gateway

Similar to what the term suggests, payment gateways offer customers a convenient method to checkout with their items at ecommerce stores. During the payment process, data is encrypted to ensure security and some companies immediately add tax if they suspect fraud. Payment gateways operate in the following manner: 

  1. A customer places an order by entering their bank card information and clicking "pay now". 

  2. The customer's web browser uses a secure socket layer (SSL) to encrypt the debit/credit card information for security reasons. 

  3. Payment gateways receive information from the merchant using SSL. 

  4. Payment gateways forward the information to the relevant payment processor. 

  5. A banking card association will then receive this information sent via the payment processor.  

  6. Any responses received will be carried forward by these processors to the payment gateway. 

  7. Using the payment gateway, both the customer and the business will receive the response and know if the transaction is approved or not. 

  8. The merchant submits all approvals to the bank card company in the batch form later. 

  9. The credit card company transmits all accepted credit card transactions to the merchant. 

Keep in mind that payment gateways incorporate three primary aspects: reporting, authorisation and settlement. 
 

Read more: The Top eCommerce Trends You'll See
 

Simple Ways To Integrate A Payment Gateway On Your Ecommerce Platform

 

Choosing a Payment Gateway

The first step would be to select a payment gateway out of the several alternatives available. The customer's bank card information is processed by sending it to the payment gateway's web server, which completes the transaction and delivers the confirmation back to the website. This is precisely why it's important for people and businesses to elect a payment gateway that meets their requirements conveniently. 
 

Consult Your Web Host 

Payment gateway services may be available from your web host or online store software supplier, which you can rapidly integrate into your suite. Visit the admin page on your ecommerce store to see if any other payment gateway options are present. You can also go through the site’s control panel for the same. 
 

Take the Pricing Structure into Consideration  

Regardless of what sort of payment gateways you wish to incorporate, these software will generally cost you a one-time fee or a monthly subscription charge. A few payment gateways even include small fees for varied transactions in their pricing structure. Compare prices to locate the service that best suits your requirements. 
 

Choose Between an External Gateway and a Direct Gateway

External gateways (also known as "redirects") direct your clients to a different website to complete the transaction. Direct gateways (sometimes known as "transparent") handle transactions within your store, allowing customers to remain on your site.
 

Apply for a merchant account  

Without possessing a merchant account, e-commerce businesses cannot receive payment transactions from people shopping on their platform. A merchant account enables you to link a payment gateway alternative and receive payment transactions simultaneously. You'll usually be charged per transaction if you have a merchant account. 
 

Create an Account  

Post creating an account, you can then exchange information regarding payment transactions between your payment gateway and your e-commerce store accordingly. 
 

How can Businesses Integrate a Payment Gateway on their Platform? 

 

Setup Your e-Commerce Store 

Most internet businesses will establish a webshop for their clients using third-party software. This program creates the ordering page and all of the code for sending payment information to the gateway.
 

Include Payment Options. 

The procedure varies for each provider, but in general, you'll need to enter your payment gateway credentials for each type of payment you plan to accept (Visa, Mastercard, etc.).
 

Check the Gateway's Functionality

Your payment gateway service will usually supply you with Test or Sandbox accounts. These allow you to make fictitious transactions to confirm that the payment system is functioning correctly. Before you make it live, remember to check it out.
 

How do Payment Gateways Safeguard Sensitive Banking Information?  

A payment gateway's capacity to safely transfer funds is a critical feature. Payment gateways should ensure that merchants are always paid when a purchase is made, reducing the risk of fraud and credit risk. To secure payments, payment gateways employ some of the following measures:
 

Security standards (PCI-DSS) 

Banking industries facilitate tons of security requirements when it comes to the usage of banking cards for expenditure. It ensures the security of payment solutions by requiring businesses to install firewalls on their internal networks, encrypt cardholder data, and prohibit cardholder data storage on discs or paper.
 

Encrypting Data 

Payment gateways primarily utilize data encryption to protect payments. Customers' card information is encrypted using a public key, which can only decode with the private payment gateway.
 

Authentication 

A ‘double verification’ sort of authentication mode has been quite common since the past few years where users generally receive a text on their contact number or email. You have to follow the formalities to validate yourself accordingly.  

In the next section, we will focus on the types of Payment Gateway, such as PayPal express, and the cost of payment gateway integration.
 

Also Read: How Much Does it Cost to Develop an eCommerce App?
 

Payment Gateway Types and Costs

 

Payment gateways are divided into two categories: hosted and non-hosted. After pressing the purchase button on a hosted payment gateway, the customer is taken to the payment service provider's page. For instance, let’s take a look at PayPal Express’s payment gateway software.  

With PayPal Express, e-commerce businesses are able to receive payments through credit cards or via the customer’s PayPal account. Customers, on checking out, are simply directed to PayPal’s official website to proceed with their payment formalities and then checkout securely. Such convenience can contribute directly to a boost in sales for e-commerce businesses.  

Non-hosted payment gateways, on the other hand, require shoppers to input their banking credentials while checking out, on the e-commerce platform itself. Keeping this in mind, let’s take a look at a few popular service providers that are doing great these days:  
 

Non-Hosted Payment Gateways 

  1. Authorize.net 
  2. BrainTree 
  3. PayPal Pro 
  4. PayU 

Hosted Payment Gateways 

  1. PayPal 
  2. Amazon Pay 
  3. Stripe 
  4. SagePay 

The expense incurred by business owners to support online payment processing through the chosen payment gateway on their website or app is known as payment gateway costs or fees. It is usually calculated as a percentage of the transaction value and varies depending on the consumers' preferred payment method and the risk level involved.  

Your total revenue determines the total cost of employing a payment gateway. However, keep in mind that transaction fees range from 2.9 percent to 3.5 percent, plus an additional $0,30 for each transaction. 
 

Bottom Line 

There are numerous payment options available. When deciding how to construct a payment gateway integration for a website, there's no need to recreate the wheel. You have the option of using both hosted and non-hosted gateways and locating ready-to-integrate components for your website. If you want to be more creative and integrate payment into a website that stands out from the crowd, design your own.  

While several payment gateways will cost you a monthly usage fee, there are a few payment services for ecommerce platforms that charge users per transaction. Depending on whom you partner with, some companies can be more flexible compared to others.


Source: https://www.zenesys.com/blog/integrate-payment-gateway

 

Comments

Post a Comment

Popular posts from this blog

Creating S3 Buckets using Terraform

In this blog post, we will learn to create S3 Buckets using Terraform - Infrastructure as Code. Table of Contents ● What is Terraform? ● What is S3? ● Installation of Terraform ● Installation of AWS CLI ● Configuring AWS CLI ● Create Working directory for Terraform ● Understanding Terraform files ● Creating Single S3 Bucket ● Creating multiple S3 Buckets PreRequisites ● Installation of Terraform ● Installation of AWS CLI ● IAM user with Programmatic access  What is Terraform? ● Terraform is a tool to create , delete and modify the resources. ● Supported clouds such as AWS, Azure and GCP , IBM cloud etc. What is S3? S3 stands for Simple Storage Service. Amazon S3 has a simple web services interface that you can use to store and retrieve any amount of data, at any time, from anywhere on the web.  Installing Terraform 1. Using binary package (.zip) 2. Compiling from source Install Terraform From the link provided above, Download the suitable packag...
Post a Comment
Read more

10 Best Python Libraries For Machine Learning

With the increase in the markets for smart products, auto-pilot cars and other smart products, the ML industry is on a rise. Machine Learning is also one of the most prominent tools of cost-cutting in almost every sector of industry nowadays. ML libraries are available in many programming languages, but python being the most user-friendly and easy to manage language, and having a large developer community, is best suited for machine learning purposes and that's why many ML libraries are being written in Python. Also, the python works seamlessly with C and C++ and so, the already written libraries in C/C++ can be easily extended to Python. In this tutorial, we will be discussing the most useful and best machine-learning libraries in Python programming language. 1. TensorFlow : Website: https://www.tensorflow.org/ GitHub Repository: https://github.com/tensorflow/tensorflow Developed By: Google Brain Team Primary Purpose: Deep Neural Networks TensorFlow is a library developed by the G...
Post a Comment
Read more

Determining ROI for Your RPA Project

  Nowadays, every business needs to reach seamless Business Process Automation and offer the best possible customer experience. In 2021, the old-school way of going by your business won’t cut it. The introduction of RPA services (Robotic Process Automation) is crucial in simplifying your business processes. Its benefits are difficult to overstate.  Since it is non-disruptive, the implementation of RPA is not as complex as it appears to be. However, calculating the Return On Investment for RPA automation isn’t straightforward. You have to consider things that you won’t even realize are countable. Calculating the costs and gains for RPA services can put you in a pickle at times. But fret not.  This article will shed light on everything you need to know and consider before calculating the ROI for your RPA project.  How to Calculate ROI for your RPA Project?  1. Determine Your Automation Goals Before you start automating business processes with RPA services, you nee...
Post a Comment
Read more