Online Shopping Is a Great Experience

Online payments are part of the daily lives of people. People transact online through credit and cards and several other modes, including net banking, UPI, and wallets.

Online payment is a crucial feature of all e-commerce platforms worldwide. They can offer this facility with the integration of a payment gateway.

Two words that sum up online payments are speed and convenience.

People can purchase products and services worldwide. Sellers are free to sell to everybody in the world who have a steady internet connection. Buyers can do without a PC. A smartphone suffices.

Using a payment gateway has several benefits.

The various payment gateway solutions that are available do not just help in transferring money. They have several other benefits. Merchants who use them give their buyers a great shopping experience.

• PCI-DSS compliance – Users can store their private information in a portal or gateway for repetitive payments. A case in point is a person who frequently buys on Swiggy. He can save his bank or card particulars on the website or app. The gateway is responsible for keeping such information secure from cyber security danger.
• White-Label Wallet – There are payment gateways that let people do digital businesses via mobile wallet apps. More and more people are using such payment gateways as they can make all their without having to move about. They first bring in their money to a mobile wallet app from their account balance. They then use the money to pay on apps and websites.
• Fraud Screening Tools – Several payment gateways offer buyer fraud screening tools that lessen their possibility of losing information. Some of these tools are CCV, CVV, and AVS. These tools guarantee that there isn’t any sham transaction.

How does a payment gateway secure information?

A payment gateway warranties the security of the data that users present. To that end, it does some things. Foremost, the entire transaction is executed via an "HTTPS" web address. "HTTPS" is different from "HTTP" is that the S is an abbreviation of Secure.

The system resorts to a signed request from merchants to confirm the request for a transaction. What is this signed request? A secret word that payment gateway and the merchants are aware of.

The payment page from the process is secured by verifying the requesting server’s IP to identify any malicious activity. The acquiring banks, issuing banks, and payment gateways back VPA to make the process more secure. VPA, executed under RDS protocol, is an added layer of security. It helps online consumers and sellers to confirm one another easily.

Conclusion

So, what is the job of an online payment gateway? To form a secure passageway between a buyer and a merchant to help with secure payments. The process requires the authentication of each party from the concerned banks. The most noteworthy pro of a payment gateway? It lets millions and millions to individuals use it simultaneously. Thus, merchants and buyers can purchase and sell products and services any time they want.

Meta: An online payment gateway doesn’t just help transfer money but helps merchants offer their buyers a better shopping experience. It does several things to accomplish this.

Grezpay is one of the best online payment gateway providers in India for all your business payment needs.