Payment gateway

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Payment
gateway

outline1*What is payment gateway?
2*How does it work?
3*Services of payment gateway
4*Why people use it ?
5*Types of payment gateways
6*How to choose right payment
gateway to your business ?
7*Examples
8*How to integrate a payment
gateway into your website?
9*Resources

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A payment gateway is an ecommerce service that processes credit
card payments for online and traditional brick and mortar stores.
Payment gateways facilitate these transactions by transferring key
information between payment portals such as web-enabled mobile
devices/websites and the front end processor/bank.
-Credit and debit cards, eCheck (ACH), and even cryptocurrencies
like bitcoin are all processed through payment gateways.
What is
payment
gateway ?

The gateway process follows these six steps.
Step 1: The customer places an order and enters their payment information. An online the transaction will be processed as a
“card-not-present” transaction. Again, this may result in a higher processing rate. Once this info has been submitted, it’s
encrypted, and then sent on it’s way.
Step 2: The encrypted data is first sent to the merchant’s processor, which is simply the company that actually processes the
transaction.
Step 3: The processor routes the transaction data to the credit card association. Visa, MasterCard, Discover, or American
Express are credit card associations. These card associations charge an interchange fee for each transaction.
How does it work?

Step 4: The next step is where the transaction is approved or denied. The card will obviously need to be valid and have enough
funds.
Also in the fourth step the authorized user must also not have any holds or freezes and the transaction will be authorized. What’s
amazing is that these first four steps take place in a matter of seconds!
Step 5: The transaction becomes authorized. The issuing bank then transmits the authorization back to the parties in the
payment processing network.
The authorization starts with the credit card association, then with the merchant’s business. Finally, back to the ecommerce site
through the payment gateway.
Step 6: Although the transaction only takes seconds, it can take between 24 to 48 hours for the funds to be available in your
account.
How does it work?

 Data encryption : Undoubtedly, security is one of the biggest concerns of the users.
No cardholder wants the credit card details he enters to fall into the hands of the third party.
For that reason, they should choose payment gateways that protect the information
as it is transferred inside the system.
 Authorization request sending : Once the cardholder enters his credit card details,
the payment gateway checks whether he has enough funds on his account and
whether the issuing bank has no limitations for this specific card. As soon as the answer
returns to the system, it passes it to the merchant.
 Filling the order : Based on the information in the system the payment gateway
gathered from the applier, the order is either formed or canceled.
This confirmation or cancellation of the order takes place inside the payment
gateway system after the cardholder enters and submits his credit card details.
AND OTHERS.
Services of payment gateway

Payment gateways offer tremendous benefits for
businesses that accept credit and debit cards.
Simplicity. Payment gateways simplify essential payment
processing functions so you can focus on your business.
Security. Payment gateways include security features like
encryption that help protect your business by keeping
sensitive credit card data safe from fraud.
Cost effectiveness. Payment gateways are a convenient
option for merchants that are seeking a turnkey payment
solution with low and transparent costs.
Flexibility. Payment gateways offer businesses easy
options to connect to their credit card processor of choice,
or even to multiple processors simultaneously.
Why people
Use it?

Hosted payments gateways, such as PayPal, redirect your
customers to the payment platform’s processor to complete the
transaction.
The benefit of this gateway is that it’s responsible for all PCI
compliance and data security.
The drawback with hosted gateways is that it could harm your
conversion rates since customers are leaving your site and may
not trust the gateway. Still, this may be your best option when just
starting out.
Integrated gateways allow you to connect your eCommerce
website through the gateway’s provided API. This means that your
customers aren’t redirected to another site
The benefit so you aren’t harming your conversions.
The drawback However, you’re responsible for the security of your
customer’s data. Also, since most integrated gateways allow you to
customize its features you need to be familiar with some basic
programming – or you will maybe even have to hire a programmer.
Types of payment gateways
Hosted payment gateway Integrated payment gateway

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For more Details :
HOW to choose
Right payment
gateway for your
business ?

1-Check with your web host
Your web host or online shop software provider may provide
payment gateway services that you can quickly implement on
your suite. Check your website's control panel or your online
shop's admin page to see if there are payment gateway
options.

2-Browse your options.
There are a lot of different payment gateways out there, and
they can get a bit confusing. Before you start looking, check
which gateways your shopping cart software supports. Your
shopping cart software's support site should have a list of
compatible payment gateways.
There are Examples Next

3-Pay attention to fees and conditions
The payment gateway will typically charge you a one-time
setup fee, a monthly fee, and then charge a small fee for each
transaction processed. Compare rates to find the service that
meets your needs the best.

4-Pick between an external or a direct
gateway.
We talk about 2 types of payment before (in slide 7).’
So remember that :
External gateways (also known as "redirect") send your
customers to another website to process the payment. Direct
gateways (also known as "transparent") do the processing
within your store, keeping the customer on your site. If
possible, choose a direct gateway, as they look more
professional.

5-Sign up for a merchant account
You will need to sign up for a merchant account, which you
then link to your payment gateway. This will allow you to
receive payments from the customer. Merchant accounts will
typically charge you per transaction as well.

6-Sign up for your chosen payment
gateway
Once you sign up for your gateway, you will be provided the
necessary information that you will need to provide to your
online store software. This could be a login name and
password, or it could be an ID and an authorization file.

Amazon payments Wepay 2checkout
Price: 2.9% + $0.30 per domestic transaction
Examples
Price: 2.9% + $0.30 per transactionPrice: 2.9% + $0.30 per domestic transaction

Authorize.net
Price: 2.9% + $0.30 per transaction
Dwolla
Price: Contact Platform for Info
Stripe
Price: 2.9% + $0.30 per domestic transaction
Examples

Worldpay
Price: 2.75% + £0.20
Merchant E-solutions
Price: Fees Vary — See Pricing Chart
Simplify commerce
Price: Fees for Merchants Vary — See Payment Options
Examples

How to
integrate a
payment
gateway to
your

1-Set up your ordering page in your
site
Most online retailers will use third-party software to create a
web shop for their customers. This software handles the
creation of the ordering page as well as all the code for
transferring payment information to the gateway. Creating this
code from scratch is one of the most difficult tasks when it
comes to web development, so it's usually best left to
professionals.

2-Add payment methods
The process for this will vary from service to service, but
generally you will need to enter your payment gateway
information for each method of payment you intend to accept
(Visa, Mastercard, etc.). Your payment gateway determines
which cards are accepted.[1] You can do this from your online
store's administration page. Find the Payments page, or
something similar.

3-Test the gateway
you will typically be provided Test or Sandbox accounts by your
payment gateway service. These allow you to perform fake
transactions to ensure that the payment process is working
correctly. Be sure to test before making your store live.
This will vary again from service to service. Check your
payment gateway's support site for details on testing your
gateway's integration.

o What Is A Payment Gateway And What Is its Role In Ecommerce?
- Due
o How online payment gateway works | Ikajo International
o 5 Reasons To Use Online Payment Gateways | Xero CA
o The 10 Most Popular Online Payment Gateways -
DreamHost.blog
o Gateway Services | Payment Gateway Services | Providers
o How to Integrate a Payment Gateway Into a Website: 10 Steps
Resources
There are a lot of
resources and we
pick a few of them to
Put here. You can
reach what you want
from these.

THANKSHanan . Omnia .Rehab

Payment gateway

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