My Blog

How the Payment Gateway Really Works

Google+ Pinterest LinkedIn Tumblr

How the Payment Gateway Really Works

A payment gateway is an interface device that connects the buyer, the store and the bank responsible for the transaction during an internet purchase best pressure cooker malaysia. Through it you can make an online payment via credit card, debit card, bank transfer and bank transfers.

In other words, it is as if the payment gateway acted like the card machine that we use in physical stores, only that everything is happening remotely. 

In practice, what the payment gateway does is to collect and store customer information, connect it to banks and card operators and check if there is enough balance and if there are any restrictions to continue the purchase.

Payment Gateways 101: Examples, Benefits and Drawbacks - Multichannel  Merchant

Isn’t it clear yet? Understand in detail:

How a payment gateway works, step by step

  1. The consumer enters your online store, logs in and adds one or more products to the cart (there are cases when he first adds products to the cart best pressure cooker review and only then logs in or creates an account to continue the purchase).
  2. When he has finished choosing everything, he will click on “check out” or a similar button on his website.
  3. After that, the consumer will be directed to a screen where they must fill in address and payment information.
  4. The moment the user clicks on “make payment”, the gateway enters the scene: it connects to the informed card operator, checks the information and, if everything is right, finalizes the payment and completes the purchase.

This whole process takes place in a matter of seconds.

Advantages of a payment gateway for your e-commerce

Now that you know what a payment gateway is, let’s understand what its advantages are for your online store:

Explain How does a Payment Gateway Work? - Issue Is Real

More security for you and your consumer

Despite the fact that the internet facilities are accessible to more and more people Shop Journey , many users are still afraid to inform their data through online means.

Because of this distrust, many people still prefer to go to a physical store to purchase a product, instead of taking advantage of the convenience of ordering from their own home.

This even makes them limited to only the offers available in their region and misses opportunities to take advantage of the variety of products available in other parts of the country and even the world.  

Your customer may not understand very well what a payment gateway is , but by using a tool like this, you can assure them that their data will be protected by advanced firewalls and data encryption systems.

In addition, the payment gateway can be connected with different anti-fraud systems installed on the online platform itself. This aspect helps to identify when the informed card is stolen or cloned, for example, or in other fraud attempts, which also guarantees security to the storekeeper.

Less abandonment of purchases

Often the customer follows the entire process: he logs in, adds products to the cart, informs the delivery data and everything. But then, just in time to finalize the payment, he is directed to another page. This happens when an e-commerce does not have a payment gateway and needs to direct the consumer to a specific platform to charge.

Comments are closed.