Saturday, November 2, 2024
HomeNew PostMake Online Payment Easy with Payment Gateways in India: All You Need...

Make Online Payment Easy with Payment Gateways in India: All You Need to Know

Published on

Malware protection

Be it a startup, a small business, or a big enterprise, everyone wants to make their customers’ purchasing experience to be absolutely seamless and positive. Likewise, one of the most important steps included during a purchasing procedure is the checkout experience.

As a merchant, you must have put an earnest effort into making your website beautiful with high purchase quality. However, have you ever thought of creating a customer-friendly checkout process? Well, if you haven’t, it is high time you started working on it.

A payment gateway can become a key element in making your customers’ overall purchasing experience fun and seamless. Now, to get a deeper understanding of payment gateways in India, let’s start with knowing what a payment gateway is.

- Advertisement - SIEM as a Service

What is a Payment Gateway?

A payment gateway is an ecommerce application that makes online payments quick and easy. It works as a medium that connects a merchant’s website or mobile application with the bank.

When a customer wants to make a payment through a payment gateway, the retailer’s website sends their debit/credit card details to the gateway for confirmation. After this, the concerned card details are verified by the payment gateway. In the last step, the money gets transferred from the customer’s bank account to that of the retailer’s bank account.

How Does a Payment Gateway Work? 

A payment gateway plays the role of an intermediary between a customer’s bank account and the seller’s bank account. Let’s read on further to learn how a payment gateway works-

  1. When a customer places an order, they can either make payment via COD (Cash on Delivery) or choose to pay online. The payment gateway comes into the picture when the customer chooses to play online.
  2. The payment gateway starts by checking the customer’s bank for sufficient balance to ensure the transaction does not cross the bank balance.
  3. Further, it encrypts the card information and sends it to the card schemes to ensure that the transaction is processed securely.
  4. Once the transaction is approved, the payment gateway takes it back to the retailer’s website, wherein the transaction will be completed.
  5. In the end, the payment gateway sends the information to the bank, wherein they request the transaction to take place from the customer’s account to the retailer’s.

Elements to Keep in Mind While Choosing a Perfect Payment Gateway

Payment gateways save you time and effort by enhancing flexibility with the types of payment methods customers can use. However, it is especially important to choose the right payment gateway in order to ensure security and smooth functioning.

To help you evaluate the primary features of a payment gateway and choose the one that fits your needs, here are a few factors you need to consider:

  1. Security
    The payment process is the most crucial part of purchasing, wherein consumers put in their sensitive financial information. Therefore, it is important for a retailer to choose a reputable payment gateway that ensures safe transactions.

  2. Cost
    There is always a fee associated with third-party tools like payment gateways. So, it is preferable to thoroughly research the costs before integrating them on your website.

    The fees can include transactions, statements, merchant account fees, customers’ charges for using a certain payment method, and more. Always remember that customers do not appreciate hidden costs, so be thorough with your knowledge about the payment gateway you choose.

  3. Accepted Payment Methods
    The easier you make the payment methods, the more customers are likely to purchase. By incorporating a payment gateway that covers a wide variety of payment methods, you can widen your sales as well.

Supercharge Your Business with Razorpay Payment Gateway

Amongst all the existing payment gateways in India, choosing the right one is the key decision for your business. Razorpay ensures one of the best payment gateways in India with its excellent quality and steady services.

With 100+ payment methods, industry-leading success rate, easy incorporation, amazing checkout experience, and more, Razorpay can efficiently manage your company’s finances. Check out their website to know more.

Latest articles

LightSpy iOS Malware Enhanced with 28 New Destructive Plugins

The LightSpy threat actor exploited publicly available vulnerabilities and jailbreak kits to compromise iOS...

ATPC Cyber Forum to Focus on Next Generation Cybersecurity and Artificial Intelligence Issues

White House National Cyber Director, CEOs, Key Financial Services Companies, Congressional and Executive Branch...

New PySilon RAT Abusing Discord Platform to Maintain Persistence

Cybersecurity experts have identified a new Remote Access Trojan (RAT) named PySilon. This Trojan...

Konni APT Hackers Attacking Organizations with New Spear-Phishing Tactics

The notorious Konni Advanced Persistent Threat (APT) group has intensified its cyber assault on...

Free Webinar

Protect Websites & APIs from Malware Attack

Malware targeting customer-facing websites and API applications poses significant risks, including compliance violations, defacements, and even blacklisting.

Join us for an insightful webinar featuring Vivek Gopalan, VP of Products at Indusface, as he shares effective strategies for safeguarding websites and APIs against malware.

Discussion points

Scan DOM, internal links, and JavaScript libraries for hidden malware.
Detect website defacements in real time.
Protect your brand by monitoring for potential blacklisting.
Prevent malware from infiltrating your server and cloud infrastructure.

More like this

10 Best Linux Distributions In 2024

The Linux Distros is generally acknowledged as the third of the holy triplet of...

Top 10 Best Penetration Testing Companies & Services in 2024

Penetration Testing Companies are pillars of information security; nothing is more important than ensuring...

Best SIEM Tools List For SOC Team – 2024

The Best SIEM tools for you will depend on your specific requirements, budget, and...