You have perhaps set up your ecommerce store, and now, you are concerned on integrating the best transaction system to give convenience to your customers. Only the payment gateway providers may help you in removing your concerns. While you like to process all the payments through credit or debit cards, these gateways are much useful to you. Payment gateway performs the major function of authorizing the money transfer between sellers and buyers.
The way through which payment gateway performs its work–
Whenever any of your customers has placed online order at your store, the gateway does a number of functions for finalizing the deal.
- Encryption system- While browser helps in encrypting information, the chosen gateway delivers transaction-related information to a payment processing unit.
- Request for approval- The processor drives all the information to the card providers.
- Order filling process- After receiving the approval, your payment gateway drives this to your web portal.
So, the overall process is slightly complicated and lengthy; however, it takes just some seconds to be accomplished. The gateways may also display orders by using various useful tools. Such process of screening also detects whether there is any fraudulence. The best gateway is also able to calculate the amount of tax for authorizing requests.
Thus, online transactions through credit card have turn out to be safer and smoother with payment gateway providers. Data on those cards also remain secure, and your customers may continue shopping with no worry.