Importance of a payment gateway in a mobile or web application
A payment gateway is simply a web based software. It is provided by e-commerce application service providers that authorizes credit cards or direct payments processing for e-business or online retailers.Payment gateways may be provided by a bank to its customers but can also be provided by a specialized financial service providers as a separate service. It facilitates the payment transactions by the transfer of information between the payment portal e.g website ,mobile phone,etc.
Think of the payment gateway as a train passing between stations where the conductor talks with the station master at each stop.
The payment gateway converts sensitive credit card details to ensure that information is passed securely between the customers,the merchant and the acquiring bank. When a customer purchases a product or service on a website that is connected with a payment gateway,the gateway performs a variety of tasks to process the transaction.
If the merchant is fully compliant with the necessary security standards,the payment is generated on the merchants servers and information transferred to the payment application in a secure way.The bank or the payment gateway confirms the transaction and then transfers it to the merchants website and the merchant informs the customers that the purchase has been completed. Payment gateways make the online transactions safe since they use high-end encryption and successfully protect confidential data,eliminating fraud for both the customers and the merchants,therefore guaranteeing a safe transaction goes a long way in sustaining your business.
Through the payment gateway you allow shoppers from all around the globe to have access to your website by catering to a diverse range of payment methods. This helps expand your customer base at an amazing -and welcome-rate.Payment gateways can also help you combine he shopping cart system with their programs.They enable users to choose their products,add them to the cart and calculate the cost of the items along with scales and services without you having to worry about it. Can’t get simpler and more convenient than that?
With the payment gateway no waiting in lines anymore. Payment gateway are a blessing not just for the e-commerce businesses but also for the customers. So continue making your customers happy by integrating payment gateways into your website. Nowadays, almost everybody prefers carrying a card rather than bundles of cash. It's safer that way in today's world. Giving people an opportunity to use their credit cards securely from the comfort of their homes is a boon. Moreover,not everyone finishes work at the same time or even at a reasonable hour hence having a payment gateway means that your site is available at all times to customers. Shopping cannot get friendlier than this. This way they can access your site whenever they have time,day or night and this increases your customer base exponentially.
To integrate this payment gateway into your website contact a software company with expertise in payment integration such as Trendpro Systems Ltd and increase sales and growth of your business.