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Payment Gateways: How to Keep Your E-commerce Transactions Safe

Software
Sep 16, 2019
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How to Keep E-commerce Transactions Safe

Nowadays, technology has made an enormous impact on all the essential aspects of human life. In today’s time, e-commerce websites have become quite popular methods of making money and selling a wide variety of products. This makes online e-commerce platforms a top priority for customers and digital upfronts. 

Ecommerce comes with many benefits, but there are also new possibilities for cyberattacks, anyone can steal the user’s personal and banking details. We all agree that eCommerce websites are having more chances of hacking and other cyberattacks than any other sector. Those who wish to open eCommerce platforms or expertise also need to do everything to make their customer’s transactions safe and secure, to keep your website transaction secure you need safe, secure and highly secure payment gateways for eCommerce platforms. But not everyone is sure if it’s safe to make e-commerce transitions using a payment gateway. 

Research has suggested that 86 percent of customers do online shopping using credit or debit cards, and over 60 percent of customers consider preferred an online mode of payment while doing online shopping. Therefore, it is essential to know how you can minimize the risk and ensure the utmost security to avoid fraudulent situations. 

  • According to Paypers Payment Method Report, by the end of 2019, nearly 2.1 billion consumers will use an eWallet to either make a payment or send money.  – Source

Without further ado, let’s know more about the payment gateway and how you can keep the e-commerce transaction safe. 

What is Payment Gateways?

A payment gateway is a business solution that makes online stores and brick and mortar shops easier to pay through cards. A payment gateway can be set up with software or even hardware. It facilitates customers to enter the payment details of their sites, these payment gateways take care of the payment process and make sure to protect the details of the card by encrypting all sensitive data and processing solely through software. To protect the transaction payment gateway development companies setup payment gateways that may include software or even hardware.

>>><How Does Payment Gateway Work ?<<

Types of Payment Gateways

Types of Payment Gateways

  • Off-Site Payment

These payment gateways redirect the user to third-party sites, where the user is required to fill up the payment information and request the bank for authorization. It is beneficial for the small business gateways to incorporate the convenience to its user and also provides security platforms. These major platforms, like Paytm and PayPal, provide their platforms to make transactions securely.  

  • Combined Payments

These payment gateways help the user to complete a few steps before being directed to the payment gateways. First, the customer must fill in the card information, and then the authentication method must be checked and redirected to the Strip page.

  • On-Site Payment

These Payment Gateways allow users to make payments through their own servers. These platforms are entirely responsible for the s for data encryption, security, and payment authentication. These platforms are mostly used by major giant companies or eCommerce sites which have their own online safe payment gateways. 

How to Keep Your Payment Gateway Secure?

There are a huge number of online payment methods that are used around the world, from well-known cards like MasterCard and Visa cards to other niche payment methods that are used only in one or two countries. 

  • Choosing payment gateways supports different sets of payment methods and is a must due to targeting potential mass customers.
  • Payment gateways are considered most of the eCommerce business due to the high risk involved in the business sector they operate in. 
  • ECommerce businesses need to work with those service providers who can provide secure platforms that can minimize risk and other payment processing.

Read more:- Paytm Payment Gateway Integration

Top Payment Gateways that need to be Considered

The payment gateway solutions achieve many important tasks in digital platforms like transmitting payments, providing safe, secure platforms by encrypting users’ data. Before choosing the payment gateways for your eCommerce platforms, make sure it meets all your requirements and takes suggestions from the experts regarding the reliability of the payment gateways. Here are some best payment gateway scripts that can be considered while choosing payment gateways.

Top Payment Gateways that need to be Considered

  1. PayPal

PayPal doesn’t require any introduction, and they are working just like their name. It is one of the most popular payment gateway sites there that provides the most reliable and secure transactions to its users. It is a commonly used the gateway in which millions of customers are accepted worldwide and provides services to almost every nation. With its impressive features, PayPal offers flexible payment options with cashback offers and other rewards.

  1. Amazon Payments

It provides a simple and secure payment gateway to its customers. Nowadays, due to its impressive features and winning factors, it started grabbing customer attention. With its simple procedure, it started instantly allowing the user to complete the transaction through either the web or mobile. Amazon offers no additional charges with 100 percent safe and secure transactions. Amazon supports multiple language system that supports international currencies in order to reach mass audiences.

  1. 2 Check Out

2 Check-Out is for those who are looking for instant payments, and there are no other payment gateways that are there who work better than Check-out. It is US-based gateways that allow their users to do the transaction on mobile and other devices. It supports multiple languages with different currencies that connect mass audiences. It guarantees to personalize delivery that enhances the customer experience. 

  1. Secure Pay

Secure Pay allows its users a simple and secure online shopping cart service, credit and debit card, and other mobile payments. It conducts secure and safe transactions from anywhere, anytime on the earth. There are also other payment gateways for mobile transactions as well.

>>>How to Start Your E-commerce Business<<<

Essential Factors that need to be considered before choosing Payment Gateways

  1. Security Process

Payment merchants must monitor the gateway’s safety parameters. Determine if the customer’s data is secured, and the customer’s privacy is shielded. Using anti-fraud protection and 3D card authentication instruments for payments would be useful to look for PCI-DSS certification.

  1. How to Secure Encryption

Before choosing any payment gateways, you first need to double-check and maintain Payment card industry security services compliances. It helps to protect customer data and other payment information. 

  1. Secure Electronic Transaction

Set is providing a joint collaboration with MasterCard and Visa, which ensures the safety of all parties involved in it, whether retail or buyer. It is specially designed to handle complex procedures and critical functioning like parties authentications, maintaining the confidentiality of their data, protocols, and electronic customer services. 

Final Words

Payment Gateways are the future of B2B eCommerce industry. With a better knowledge of the price and safety features of the payment gateways, you’ll be able to choose the right options for your business needs. You need to make sure selecting payment gateways services is not just safe, but also give peace of mind to its users while making payments. Most of the companies provide online payment gateway clone scripts services to their clients with impressive security features and customized solutions that can make e-commerce companies stand out in front of other competitors.

Nidhi Sharma

Holding years of rich experience in Content Writing on different niches and exploring ways to learn more. Majorly talks about Traveling, Games, Software, Mobile App Development Lifestyle and attempts to spread knowledge about the latest trends and technologies.

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