You can integrate payment gateways into your e-commerce store. There are different types of payment gateways depending on the connection method.
Let's take a look at each of these integration methods and analyze which method is best for your business and which are the popular payment gateway providers used by a large number of online shoppers.
1. Hosted payment gateway.
The escrow gateway uses a third-party service such as a Payment Service Provider (pSp) to complete payment services.
Hosted eCommerce payment gateways take customers away from your website to complete the payment process where you have no control over the customer.
·When the user pays, they are redirected to the pSp page.
·The user then provides his or her payment details, such as a credit card or e-wallet or bank.
· Once the credit information is verified, then pay securely through the service provider page.
·After the payment is successful, the user is redirected to your e-commerce site again.
Here, the payment information from the e-commerce site is collected by an internal framework hosted by the pSp, so when the customer fills out the form, the information is collected by the pSp. This integration is easy to set up and customize according to the client's needs.
2. Self-hosted payment gateway.
In self-hosting, no third-party services are used to provide payment services. Unlike third-party services, e-commerce owners directly collect customer details (such as credit card details) and other payment details. The details are then forwarded to the payment gateway URL.
This type of e-commerce best payment gateway for ecommerce integration allows e-commerce stores to deduct from customers. After payment, the customer and the owner of the e-commerce website will be notified.
From e-commerce sites to payment gateway URLs, customer details need to be protected. Therefore, the customer's details are transmitted in a special format or password.
Independent hosting services provide a great customer experience because they only deal with e-commerce sites and customers won't navigate from your site.
The main problem here is that the website owner is responsible for security and having a technical support team, which can sometimes incur huge costs.
3. ApI/Non-custodial payment gateway.
The unmanaged gateway uses API or HTTP to query the service. E-commerce sites handle the checkout process and control transactions during the payment process.
Enter directly into the site owner's checkout page, such as the customer's credit/debit card details. Payments are then made using ApI/HTTPp query and processing details.
Here, all the details about the payment are stored on the e-commerce website, which you can access directly through the ApI during payment.
Notify customer after payment. This method works for any type of e-commerce platform, such as mobile or tablet.
This allows e-commerce site owners to access the customer's payment page interface and design their own user interface for payment transactions.
4. Local bank integration/direct payment gateway.
Enable payments through your local bank is an easy payment gateway method. Customers go directly to the bank website to pay.
Customers pay the payment site using their payment details and identity. After payment, they are repurposed as an e-commerce site.
This notification will only be sent when the payment is successful. Cancellations or refunds must be sent directly to the customer through the merchant's website. But there will be a constant update process.
This is great for small businesses as it only uses a simple payment process. Also, e-commerce owners can easily manage this approach.
5. Custom payment gateway.
Sometimes it can be difficult to find an integrated e-commerce payment gateway that meets all your requirements.
You might not be happy with the design or theme they offer, otherwise it's expensive, or it might not support all the currency formats your client wants to pay for.
Therefore, it is best to design your e-commerce payment gateway to meet all your unique needs. The main advantage of using a custom payment gateway is that there is no need to rely on a third party to pay customers.
It also allows you to be highly secure for any new features you need for your transactions and business. For example, Amazon has its own payment processing and wallet system called Amazon Pay.
The various forms of online payments accepted nowadays include: Credit Card. Credit cards are the most widely used method of payment for e-commerce purchases. Cash card. In India, debit cards are the second-largest form of online payment. Use a smart card. Electronic wallet. Internet banking.... The use of mobile payments. Google Pay.
Credit and debit cards are the foundation of the majority of contemporary e-commerce payment systems, as we've explained. Customers frequently fund alternative payment methods like digital wallets with credit cards. They might even use money they already had to authorize debit card payments through their bank.
What method of payment is the safest? The safest method of receiving money for your company, other from cash, is with a certified check.
There are many types of insurance, remember these five to choose a good insurance without taking a detour.
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