How the Best Payment Gateway in India Functions?

Do you want to accept payments via your online store for products or services you sell in a safe and secure manner? If yes, you need to invest in a good payment gateway. Payment gateway is necessary when you wish to process credit card transactions directly to your bank account. For this, you will also need a merchant account with the bank.

How the gateway works?

Before we mention how it works, it is important to understand that this solution can benefit e-commerce websites only when it is purchased from a reliable payment gateway provider. This will not only ensure the best quality gateway but also give you the benefit of top notch customer support, whenever the server is down.

When the credit card details are entered by the buyer in the check out page of the e-commerce website, a message is sent to the card holder’s account via payment gateway. This message is sent to verify the accuracy of card data and whether or not there is sufficient fund in the customer’s card for making the purchase.

After the validation of this information and confirmation about the availability of funds, the transaction information is sent to the merchant’s account through the payment gateway. In turn, it requests for the transfer of funds and money gets deposited to the merchant’s account.

Once the deposit is done, the buyer receives a message that confirms the transaction. A copy of the transaction is then sent to the customer along with the purchase details and delivery address. This entire procedure takes just few minutes.

Selection of the right solution

Merchants should know which payment gateway to choose based on their business requirements. It is important to understand the functionality of this solution and how it is different from a shopping cart on an e-commerce website.

A gateway is different from a shopping cart. The cart enables the customers to select what they wish to purchase and view all the products in one place to see the total cost which includes taxes and other charges.

When you choose the best payment gateway in India you will be getting a reliable web-based service that integrates into the shopping cart of your e-commerce website. It will be collecting payment information that will be provided by each customer during the checkout procedure. The data is encrypted by the gateway and it is then transmitted to the card issuing bank for authorization of the transaction.

A payment gateway is same for a web-based merchant as a POS (Point of sale) terminal is for a brick-and-mortar business. Similar to the POS, the gateway supports the full range of processing services. It offers a virtual terminal option with the help of which merchants can enter the payment information in a browser. With the help of this virtual terminal, it also becomes easy for the merchant to create and save customer profiles that can be accessed later for a quick processing of payment.

Summary

It is important to choose a reliable payment gateway provider when selecting the best payment gateway in India for your e-commerce website.

Neha works for a reputed payment gateway provider. She also writes articles on how to choose the payment gateway India for an e-commerce website.