The payment gateway is provided by the e-commerce application service provider UK Merchant Fleet. It can be provided not only by banks to customers, but also by specialized financial service providers as a separate service (such as payment service providers). payment gateways are similar to pOS terminals found in many retail establishments. In addition, authorize electronic credit cards and Automated Clearing House (ACH) payments, subscription payment gateway,providing businesses with seamless payment processing. In addition, it facilitates payment transactions through messaging between payment portals, such as mobile phones, websites, or interactive voice response services, and the front-end or receiving bank. The payment gateway encrypts and stores sensitive data to keep confidential information safe when processing payments.
A payment processing system consists of three main parts, including a payment gateway, a payment processor, and a merchant account. What is the main difference between them? There is a summary:
Connect the e-commerce store to the payment processor and send transaction requests to the payment processor.
Handle requests from the web and execute them. Collect money from customers and deposit into your merchant account or an account managed by a third party.
This is where the money is deposited after a successful transaction. It's optional, no doubt, and you don't need to consider it an e-commerce business.
Recurring billing is managed by subscription billing software for businesses selling subscription-based goods and services. Software of this kind creates invoices for a range of subscription plans and billing cycles.
The Bharat Interface for Money (BHIM) app uses the Unified Payments Interface to enable simple, rapid, and effortless financial transactions (UPI). With merely a mobile phone or virtual payment address, you can send and receive money instantly between banks (UPI ID).
Paytm All In One Payment Gateway, one of the top payment gateways, supports a variety of payment sources, including EMI, UPI, debit/credit cards, net banking, paytm wallet, and postpaid and prepaid services.
Click Products in the Shopify admin window. Select the product whose subscription you wish to manage by clicking it. Decide whether to sell the product exclusively through subscription: Check the box labeled "Sell product as a subscription only" to only sell the product as a subscription.
- Sep 05,2023
- May 10,2023
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