PayTabs-Best Payment Gateway in UAE for all Your Payment Needs

Whether you are a newbie in the online business industry or willing to expand your existing business, needing a payment gateway is the basic norm. After all, it is one of the best ways to effortlessly receive payments from your customers in a secure and hassle-free environment. If you are operating your business in UAE and looking for a reputed payment gateway, Paytabs can be one of the finest options. It is one of the most secure payment gateways in UAE which comes with some amazing features.

So, let’s move ahead and discover more about PayTabs and its useful features.

A Take on PayTabs- Best Payment Gateway in UAE

It is leading global payment processing company of Saudi Arabia. This Bahrain based service provider offers a simple and secure platform for people to transact around the world without any stress.

Features of PayTabs

 
• Quick Integration
Unlike other platforms, integrating Paytabs with your business is merely a matter of minutes. Almost anyone who doesn’t have technical knowledge can integrate it in their very own business.

• Acceptance of 168 Currencies
This is probably one of the biggest advancement from a payment gateway like PayTabs. It accepts a whopping 168 currencies which is definitely an amazing thing. With this, you can grow your customer base, accept other currency payments and boost up your revenue in no time.

• Quick Fund Depositing
PayTabs consume very less time to take funds from the customer’s account and credit it to the vendor’s account. With quick integration into merchant websites, PayTabs makes payment transfer blazing fast and secure.

• Smart Dashboard Support
With PayTabs, you can track your payments whereas a complete level of transparency is maintained. In addition, you can even keep a count of your payments, sort date/month wise and see your actual revenue within a matter of seconds.

• Fraud Protection Available
At present millions of accounts are being hacked and all that a payment needs is good fraud protection mechanism. Using PayTabs, you get anti-fraud detection straight out of the box as the company focuses on detecting fraud activities and eliminates them.

• Customer Support
PayTabs provides a good 24x7 customer support all their potential clients. They have a team of professionals who are skilled enough to solve every minute issue with perfection.

• Express Checkout available
For simple and stress-free checkouts, PayTabs delivers pop-up payment window. This keeps the customer in contact with your website keeping the checkout process as simple as possible.


Wrapping Things Up
Well, after spanning through the list of features, PayTabs is providing, you already know why it is the best payment gateway in UAE. So, if you are ever willing to start your own e-commerce business, keep a note of the features of PayTabs and keep it as one of your favourite options and expand your business in UAE.

Top 6 Tips on Choosing a Payment Gateway for Your Online Store

As a business owner, if you are selling your products without using an e-commerce website, then you payment gateway for website is the best way to accept debit and credit card payments from your domestic and international audience.

In this article, we will share some top tips to help you choose the right payment gateway for your online business.

Fee structure
It is important to partner with a payment gateway provider that offers a flexible fees structure. Some service providers charge a fee per transaction while some charge a flat monthly fee for a fixed number of transactions every month. Before committing, ensure that you are aware of the fees structure. Select a payment gateway for website that meets your present needs and also which can help you in the future.

Reputation
There are plenty of payment gateway providers in the market. Choose a reliable and proven payment gateway provider with features that can help you and your business succeed. Also, choose a one which can offer a great shopping experience to customers visiting your online store.

Security
Security of your customer’s sensitive data should be the top-most priority of an e-commerce merchant. Make sure you partner with a service provider that is compliant with Payment Card Industry Data Security Standard (PCI DSS).  Also, check if they have fraud protection tools and other advanced solutions to minimize fraudulent transactions.

Integration
For an online business to run, you need to integrate the payment processing with your e-commerce website. During the process of selecting a payment gateway, it is important to check if the payment gateway is supported by your website or not. Also, to make the payment process hassle-free and quick for your customers, ensure that the integration is simple.

Customer support
Before committing to a service provider, do not forget to look at the type of support that is being offered to the customers in case if any issue arises. Does the payment gateway provider offer telephone support or only email support? Are they available 24/7? Ask these questions beforehand to check on the type of customer support that is being offered.

Mobile optimization
Another important factor to consider while opting for a payment gateway is that if the payment gateway supports the payment method of your target audience. To run your business successfully, you need to have a payment gateway that supports the method of payment of your customers and offer them the convenience of shopping online. In today’s busy world, there are customers who prefer using mobile phones to shop, so it is important to check if the payment gateway gives the flexibility to customers to pay regardless of whatever device they use.

Conclusion
Payments are the lifeline of an online business, so it is important to choose the right payment gateway. Using the above-mentioned tips, choose an online payment gateway that will help your business to grow manifolds are missing out on something very big. Finding the right

Sell Global with International Payment Gateway Services

Planning to go International?

To sell your awesome products to international customers, you need an international payment gateway.
An international payment gateway allows online merchants to receive payments from customers across borders.

Let us discuss what is involved in online payments across borders and what to look for in when choosing international payment gateway services.

Payment Method
Payment methods preferred by customers vary by country to country, so it is important to learn the preferred payment methods of international customers and the market that you are targeting. Some prefer to pay online via credit cards while some do not. The best way to address this is by offering your customers multiple payment options.

Local currencies
By selling online internationally, you can expand your customer base, but at the same time, you should make your customers feel at home. Checkout is the place where most of the shoppers abandon their cart. One of the main reasons for this being a lack of trust and convenience. For this, you need to list your prices in their local currencies. One other way to offer comfort and convenience to your customers is by allowing them to pay in their local currency using their preferred payment method. Whenever you are choosing an international payment gateway service, find out if they give the option to you to accept payment in foreign currency. The main benefit of this is to a customer is better user experience and hassle-free checkout as they are paying in a currency that is familiar to them.  For you, this means higher sales!

Taxes and Duties

Apart from determining the preferred payment methods, you need to have a good understanding of the taxes, duties and customs of the country of your target audience. Each country charges foreign tax such as VAT on the goods sold. So, before selling internationally, you need to check the VAT rules and find out the steps that you need to follow.

Payment Options

Apart from accepting payments through credit and debit cards, wire transfer is another option to receive payments from your international customers. Another option is money orders, but for this, you need to accept only from customers with whom you have a history otherwise they can trick you.

Fraud and Risk management

When selling internationally, you should be prepared to handle risk and fraudulent transactions. To minimize risk, you need to beware of high-risk countries which are known for fraudulent transactions, suspicious email addresses and physical addresses. Anytime, if you are in doubt, it is always good to check with the customer and verify the transaction.

Conclusion

The success of your online store depends majorly on how well you sell your products to your customers.  To sell products, you need the win the trust of your customers. For instance, by displaying your products in local currencies and allowing them to pay using their preferred mode of payment will prevent uncertainty during the checkout and minimize confusion. Using the above tips, now you can sell internationally through your e-commerce store and boost your sales.

Top Questions to Ask Yourself While Selecting a Payment Gateway Service

A payment gateway service is undoubtedly becoming the need of every online business owner. With an overwhelming number of payment gateway service providers in the market, choosing a one that meets your business needs can be very daunting. In today’s article, we will list out the top questions to ask yourself before you partne

r with payment gateway service provider for your e-commerce website.

Question1: What are my business requirements?

This is one of the main questions to ask before you sign up with a payment gateway. It is very important to identify your business needs of having a specific payment gateway for your customers. You need to check what would be the impact of the payment gateway on your audience. The best payment gateway service supports multiple currencies and is available in the countries where your target audience is living.

Question 2: What would be the cost involved in opting for a payment gateway?

The next question to ask yourself is what would be the financial feasibility?  Different service providers charge different fees. Make sure that the transaction fee is not costing you much; in fact, you should ensure that it does not impact your business financially. You should know the overall fees structure charged by your payment gateway provider to avoid surprises in the future. Most importantly, the payment gateway that you choose should offer you the services as per your needs and most importantly at an affordable rate.

Question 3: Is the payment gateway secure for online transactions?

Security is the most important thing for an online merchant. If you want to retain your existing customers and want to attract new customers, you need to provide them with a payment platform that is safe and secure. For this, you need to check how secure your payment gateway for making online payments is. Partner with a payment gateway provider that is compliance with Payment Card Industry Data Security Standard (PCI DSS), which means they are well equipped to handle any fraudulent activities. Also, do check if they have the right fraud protection tools and measures to prevent any security breach.

Question 4: Do they offer the right customer support?

In case there is any issue regarding a transaction, how good is support system team and how quickly will they respond? If the payment gateway does not provide timely support, then the customers will have to follow manual instructions which can be quite frustrating for a user. Ensure that the payment provider offers a dedicated customer support service which is available both via telephone as well as mail and at the same time it should be quick and smooth.

Question 5: Will it integrate easily with your existing website?

You need to offer a great shopping experience to your customers, for this you need to choose a payment gateway that can easily integrate with your online store. The easier and simpler the integration, better it is for you and your customers.

Conclusion:

Once you are prepared with these questions, you can step out in the market and select the best payment gateway service that can answer all your questions.

How to Choose a Payment Processing Solution

The global payment processing industry has become dynamic in the recent years and with so many payment processing options, it can be quite challenging to find the right payment processing company for your business needs. A wrong choice can be costly, that is why it is important to choose the right payment processor.

If you planning to expand globally, you need global payment processing services that can help sell products to international customers and boost your sales. It will present your cart in the customer’s local language and currency and offer them a wide range of payment options.

Today, we will discuss the things you need to consider while choosing a payment processing solution for your business.

Payment Security
It is the responsibility of the merchant to protect and secure the customer’s sensitive data and payment information. So, it is vital to choose a payment processor that can safeguard your customer’s payments and sensitive data using the right fraud management tools and other advanced technologies. Ensure that the payment provider that you pick offers secure data processing and is PCI compliant. A payment processor that is PCI complaint employs the highest level of data security and ensures that your confidential information is secure.

Processing Fees
Look for payment providers that offer the most affordable rates. Be aware of the processing fees and do check for any hidden charges to avoid any kind of surprises in the future. The important thing is to check on all the costs before committing to any payment provider. You need to choose a provider that fits your needs as well as your budget. If you miss or exceed your budget, you will end up paying more than necessary and lose out on your profits.

Setup and Maintenance
You want a payment provider that offers the ease of setup and maintenance. The payment processor should provide the necessary support to help you set up your account and install any equipment that your business needs.

Customer Support
What if run into some technical issues or if you have any questions regarding the bills? If any time any such problem crops up, you need a provider that is reachable 24/7 either through phone, chat or via email.

Conclusion
As you can see, these are some of the factors that one needs to consider before choosing a payment processing service for your business. Choosing a payment processing service is not a simple task, so it is wise to compare different payment processing solutions so that you have a better understanding of the pros and cons of each service. As per your findings, choose the best one that fits your needs.

Hidden Fees to Watch Out for When Dealing With a Payment Gateway

When you are involved in an e-commerce business, you may come across certain unnecessary or hidden fees which can take away your businesses overall profit. However, at times some merchants may even fail to notice these hidden fees. To run the business smoothly for you and your customers, it is important to understand what exactly these hidden fees are. Whatever the fees you pay, your goal should be to ensure that you are not drowning your business with it.

So, here is a list of 2 hidden fees that merchants should watch out for. These are PCI compliance fee and transaction fee.

·      PCI compliance fee- PCI means Payment Card Industry. It is set of rules that all companies handling card and payment information is expected to follow, to minimize fraud and data breaches. You should be PCI compliant if your business accepts any form of card or check payments. The payments can either be online using a virtual terminal or can be using a credit card machine at physical store. There are some payment processors who can impose a PCI compliance fees for offering you resources and tools to help with PCI compliance but in case they don't offer this service, you should not be charged for this. Paying a PCI compliance fee can either come with benefits or lack of benefits. It all depends entirely on the type of processor you choose to work with.

·        Transaction fee-Transaction happens when you swipe a card or when you put your card details into a virtual payment portal or shopping cart. So, when you are charged for each of these transactions, it is called transaction fee. No matter which processor you chose, but you will always be charged a transaction fee. This transaction fees varies from one processor to another based on the amount of transactions every month. The transaction fee should not eat up your profits that is why it is recommended to first understand the charges associated per transaction and then choose the payment gateway solution which fits your business needs and most importantly your budget.

Conclusion

Understanding of these hidden fees will ensure you a high profit margin and help run your ecommerce business smoothly.  If you want to avoid paying hidden fees, you need to research and opt for the right processing company offering the best payment gateway solutions. Similarly, always review the agreement to get a clear understanding of the hidden fees. When signing up with a payment provider, clarify all the points. Careful understanding of the terms and conditions will help you avoid surprises in the future and help your company to be profitable.

Top 3 tips to help you find the right payment gateway for your ecommerce website

Choosing the right payment gateway is a vital part of running an online business. Any merchant, who has an ecommerce website, should have a good e-commerce payment gateway integrated to his business portal for best results. Choosing the right payment gateway is a hassle for many decision makers. There are some gateway providers with great features but transaction charges are very high. So, how do we choose the right one? What factors to be considered while choosing a payment gateway provider?

If you want to make sure that the payment gateway that you are choosing is the right one, then this blog will be helpful to you. Follow the tips mentioned below to choose the right payment gateway for your ecommerce website. 

Determine your needs 

The top priority for any ecommerce merchant is that the payment gateway should satisfy all of his business needs. There are some payment gateways that charge a fixed monthly fee while some charge based on the number of transactions done on your website. Secondly, if you run a global business, the payment gateway that you choose should provide the option of collecting payments done through international cards like Visa and MasterCard and support multiple currencies. Also, a worthy payment gateway should offer numerous alternative payment modes to customers for making online payments. So, before you close the deal, analyze your basic needs and then choose the one that fits your requirements and is affordable too. 

Research

It is necessary for merchants to spend time and do a lot of research to determine which payment gateway to go for. Ensure that the payment gateway is transparent on pricing and mentions price structure upfront. Transparency in pricing will help you identify the expensive payment gateways. There are some payments gateways that have some hidden charges so choose wisely otherwise you will end up having bad surprises down the road. Do not forget to compare the fees structure of the payment gateways and opt for a provider that fits in well within your pricing structure.

Security

We all know how important is safety and security when it comes to online payments. The payment gateway that you are trusting on should provide you with SSL security and should comply with the PCI DSS standards. It is very important to check and double check the safety and security standards before you commit to a payment gateway provider. 

Conclusion

The tips mentioned above will help you identify the right payment gateway provider for your e-commerce business. In a nutshell, the best payment getaway is a combination of multiple factors. So, choose a e-commerce payment gateway that best suits your business needs and of course your budget. 

Controlling security risk and fraud in online payments

With the fast growth of e-commerce, cyber crimes have also been on the rise. Security is the top priority for ecommerce businesses and in order to protect their customers from any kind of fraud or risk when shopping online, payment gateway service providers are taking strict safety measures. In this article, we will provide you with five safety measures, which can help protect the payment data from fraud.

1. SSL- One of the safest measures to protect the transmitted data is by using SSL. SSL is a standard security protocol that protects data transmission and provides a secure channel for communication between the web server and browser. You can verify if the website has been secured with a SSL protocol by two-ways- check if a padlock icon is displayed, or check if the URL shows https instead of http.


2. Encryption- Encryption is highly effective when we talk about storing secure payment information. During the encryption process, the electronic data is converted into a coded message which can be understood only by the receiver and the sender. Third parties can only access the information with the encryption key.

3. Tokenization-Tokenization is a security measure to strengthen the security of online transactions. It is a process in which the customer’s data, like for instance credit card number is transformed into a random combination of characters which does not have meaning. This token acts as a reference to the original data but if in case a breach happens; no one can derive any value from it.

4. PCI-DSS Compliance- Customers data security is the top most priority for a business owner. A payment gateway that you choose should comply with the security standards. The Payment Card Industry Data Security Standard is a set of standards and policies to ensure secure online payments. To check if the merchant or the ecommerce website is adhering to the PCI standards, look for the PCI-DSS symbol on their website.

5. 3D Secure- 3D secure known as 3 Domain Server is a protocol that provides an additional layer of protection to ensure secure online transactions. This protocol provides the customers with a code called One Time Pin. This pin is provided by the issuing bank for a particular transaction and cannot be used for any other transaction. The customer receives this code by e-mail or SMS, and once this code it entered, only then the acquiring bank authorizes or declines the transaction.

These are some of the safety measures taken by ecommerce companies to secure the customers information but remember not always all of them follow the best practices. It is recommended to always check the reputation of the payment gateway service providers before making the final choice. As a customer, if anytime you have a doubt about the credibility of the merchant while shopping online, do not go ahead with the transaction. 

Essential Security Features of Payment Gateway Services to Help You Sell, Manage and Grow Your Ecommerce Business

According to a study done by the United Nations Conference on Trade and Development in the year 2015, the number of online shoppers will grow to 1.623 billion in 2018. 

With a growing percentage of people using the internet, the demand for online businesses is also rising. This makes payment gateways absolutely essential for online transactions as it acts as the intermediate between the merchant and the bank. But with the rapid growth of online transactions, threats of security have also increased. Security is the top most concern for customers. So, a payment gateway should ensure they use various standards, protocols and encryption mechanisms to provide a secure and seamless shopping experience to the customers. 

Data Encryption

Whenever a customer enters his payment details like credit and debit card information, the payment gateway passes this sensitive information securely between the customer and the merchant using the method of data encryption. When the payment details are entered, the payment gateway will encrypt this information using the payment gateway’s public key. Data encryption protects the customer’s information from unauthorized parties. In short, some of the best payment gateway services use this method to prevent the customer’s information from being stolen or misused.  

Secure Sockets Layer (SSL)

SSL is used in payment gateways to securely transfer private data over public platforms using a certificate of authentication. SSL, which is a secure network protocol, makes use of two encrypting methods- asymmetric and symmetric encryption. In asymmetrical encryption, RSA (Rivest-Shamir-Adelman) algorithm and DSA (Digital Signature Algorithm) are used while in symmetrical encryption, AES (Advanced Encryption Standard), DES (Data Encryption Standard) and others are used. Most of the payment gateways make use of this protocol to securely transfer the data between the customers and the merchants. 

Secure Electronic Transaction (SET)

SET is another standard protocol which helps to communicate information between the customer, merchant and the payment gateway in a secure way using a digital signature. SET makes use of the customer’s digital signature and this prevents the merchant from seeing the customer’s payment information. When a payment gateway receives the payment information, it encrypts the data using its public key and verifies the primary account number. SET offers a high level of security and privacy to the customers and fulfils all the security requirements like data integrity, authentication and confidentiality by making use of public key certificates and digital signatures. 

Wrapping Up

Ecommerce payment security is very important, so if you own an ecommerce website, you need a secure payment gateway which can reduce the fraud and prevent the security breach of personal data. The best payment gateway services make use of the above mechanisms to protect the sensitive information of the customers from unauthorized parties. 

Ecommerce Security is At The Core of Payment Gateway Solutions

The success of any ecommerce business depends majorly on the customers and the ease of transaction experienced by them. In short, a payment gateway is the best way to ensure hassle-free payments.

Business when implementing an online payment gateway solution, should first consider the level of security offered by the payment gateway. Security in ecommerce is a high priority for the merchants and customers alike. Before entering the financial details, the customers should research how secure the site is. On the other hand, merchants should have multiple layers of security in place to protect sensitive data of their customers.

So, how can an online merchant ensure that the payment gateway is secure? Is there a way to strengthen the security of the website?

Even though most of the ecommerce platforms have built-in security features, but here are some ways by which an online merchant can bolster data security.

The Payment Card Industry (PCI) Standards and SSL Certificate 

In order to be PCI compliant, the ecommerce platform must adhere to a strict set of policies and procedures that guarantee the security of payment via credit or debit card. Anti-malware software, encryption, extensive monitoring and risk analysis are some of the measures to ensure the security.

Apart from this, use SSL certificate to authenticate the identity of your business and to facilitate a secure connection at the time of checkout. Both of these are vital for protecting your company as well as your customers from any fraudulent activities.

Multi-layered Security

Ensure that the ecommerce platform you choose has multi-layered security to keep your business safe from any fraudulent activities.

CVV Requirement

Card Verification Value is a three- or four-digit code at the back of a credit card. Even though retailers can record customer’s names, addresses and credit card number for future transactions but they are not allowed to store CVV number under any circumstances. A CVV requirement makes it extremely tough for any fraudulent transaction to take place.

Address Verification System
Address verification system is another way to facilitate safer payment processing. This can be useful in verifying if the billing address entered by the customer is same as what the credit card issuer has on records. In short, AVS can be used to identify if the transaction is legitimate or fraudulent. 

Apart from these, it is important to monitor all the transactions and deploy PCI scans at regular intervals to check for any suspicious activities that may be targeting your online store. 

Wrapping Up

Make sure you choose the most suitable online payment gateway solution for your online store and build up the security of your store by following the security measures discussed above.

Are You Using The Right Payment Gateway For Your Ecommerce Business

In the recent times, Ecommerce has become the fastest growing market segments. The competition is all time high and a wrong choice can be catastrophic for your Ecommerce business.

The success of your online endeavour depends mainly on how well your products are being sold to your customers. Most of the entrepreneurs will review their product or service quality from time to time, but what about the types of payment options available to your clients?

If you are running an Ecommerce business, you should know how to choose the right payment gateway so that it will fulfil all the needs of you and your target audience.  Implementing the right payment gateway can ensure long-term success of your Ecommerce business.  Here are some of the options when it comes to Ecommerce payment gateways. Choose the one that is the best fit for your business.

Traditional Payment Gateways

Traditional model is the most commonly used option by merchants. In this model, the payment gateway partners with a merchant acquirer like an Independent Sales Organization (ISO). The gateway just provides the software for conducting transactions and does not interact much with the clients. Most of the interaction is done by the ISO but if anything goes wrong and if the clients wants to make some changes, then ISO has control over the platform that is being used.

White Label Payment Gateways

This is a technology solution that serves payment providers and enables them to use third party technologies. They even support payment acceptance for their customers. White label payment gateways allow merchants to set up multiple IDs and separate accounts for specific locations for their business without increasing the number of parent accounts and login profiles. In this, ISO has more control over the quality of service that is being offered to the clients.

Payment Facilitators

Payment facilitators use a multi-tiered system and merchants that sign up under them are given sub-merchant accounts with a separate account and merchant ID. The best part about payment facilitators is that their cost structure is of flat rate and highly transparent.

In order to get your Ecommerce business up and running, Ecommerce payment gateway is one thing that you cannot do without. There are many payment gateway providers in the market. Even though each of the payment systems may seem equal but the quality and features of its each of them vary. Choose a gateway that guarantees you seamless and easy transaction and secures sensitive data of your customers. Make sure you find out all the options as a wrong choice call be fatal for your business.

How The Choice Of A Payment Gateway Service May Decide Your Success in Ecommerce

As a business owner and particularly an e-commerce vendor, you must know how money gets transferred from your customer to you. Payment processing involves two phases and these phases include the authorization phase in which the sale is approved and the settlement phase where in the money gets transferred to your account.




How A Transaction Takes Place

Let's go through the entire procedure of how a transaction takes place:

1. A shopper visits your site and purchases an item on it using a plastic card.
2. The information is transferred through the payment gateway, where it is encrypted and transferred again to the payment processor maintaining extreme privacy.
3. Your payment processor sends this information to the issuing bank along with an instruction to release the payment in order to complete the transaction.
4. The issuing bank can either approve or reject the request.
5. In case it's approved, your payment processor confirms the transaction and instructs your merchant bank to transfer the money to your account.

This sounds like too much work -- a flow diagram of too many activities, but in fact the entire procedure takes not more than one or two seconds.

The settlement part is the last and final part of the entire payment transfer process and you get paid at this stage.

The issuing bank will release the money, which gets transferred to your merchant bank first and in turn credits this money into your account.

What is Important?

Now you have the funds available in your account. Your merchant bank reserves the right to keep a part of the money transferred, which you cannot use. This is done to safeguard the interest of the customers in case they are not satisfied with the product and decide to return it.

Choose The Right Payment Gateway

In that case, the entire money has to be returned to the customer by your E-Commerce company. The entire settlement process might take a few days. This way, your selection of a payment gateway service is extremely important because it decides how a transaction is conducted on your website. It also affects the entire sales procedure, wherein you offer additional transparency and a better experience to your customer.

It also involves the role of technology in the entire process. If technology used is not able to support these operations in a timely manner, it would reflect badly on the entire customer experience. Your brand loyalty may go down and your revenues might get hit in a big way. No wonder, most of the business coaches and consultants say that customer experience is a crucial part of the success of your eCommerce venture.

Your failure to provide good customer experience may ultimately backfire on you and sabotage all your efforts to increase your revenues and grow your brand.

Finding The Right E-commerce Payment Gateway For You

As an e-commerce merchant, it is important to choose the right e-commerce payment gateway to ensure the success of your e-commerce website. Customer satisfaction should be the top most priority of a business owner.

If you do not secure the payment options, then there are high chances of losing customer’s trust. So, to ensure that your customers are happy, it is important to invest in the right e-commerce payment gateway. A right payment gateway is the one which can benefit both the buyer as well as the seller.

Secure: A payment gateway should meet all the compliance requirements and secure and protect customer’s sensitive data so that the merchant and the customer is safe from any fraudulent activities.

Quick :  Buyers prefer ecommerce websites where they can make the purchase with a credit card. A payment gateway ensures that the online transactions are fast and easy and make the payment process hassle-free for the customer.

Convenient : Customers who have an option of paying through credit card are more convenient as they can transact and shop at any point of time without visiting any physical store. 

Some of the factors worth considering while choosing an ecommerce payment gateway are:

1. Multi-currency support : It is recommended to check if the gateway provider supports multi-currency payments in case you want to reach out to shoppers globally. 

2. Sign-up process : Avoid PayTabs payment gateways which require the users to go through a sign-up process and fill up unnecessary fields and also it is advisable to go with a service provider with zero sign-up fees. Have a close look at the terms and conditions of the payment gateway provider. 

3. Payment Methods : Check out if they offer multiple payment methods such as credit cards, debit cards etc.

4. Fees Structure : Before signing up the contract, understand the fees structure as well as check if there are any hidden fees. Choose a cost efficient payment gateway provider that will help guard your profit margin and provide a good shopping experience for your customers. Pay close attention to the transaction fees of the payment gateway service provider and ensure that it is within your budget.

5. Customer Support : Ensure that the service provider offers 24/7 customer support to meet the requirements of the consumers both via telephone as well as email.

A right payment gateway provides a secure link between the ecommerce website and the bank. For an ecommerce business owner, these are some of the important factors to choose the right payment gateway for your ecommerce website. Go for a payment gateway that can handle all your customers’ transactions in a secure way and help achieve the trust of your buyers. 

Understanding Payment Gateway Services

If you are planning to run an online ecommerce business and intend to accept payments from your customers from across the world, its important that you understand the importance of payment gateway services and how it works to enable businesses receive money. Payment gateways basically help provide payment processing facilities, as a result of which your customer can use a debit card or credit card or an e-wallet to make payments for their purchase on your website.

Let’s Understand How Payment Gateway Services Works

Payment gateway services work by performing a variety of tasks (and checks) to ensure the transactions are carried out fast and securely. Here is an overview of how it happens.

1. Customer places an order online.
2. The customer’s web browser then encrypts the information before sending it to the merchant webserver via (usually) Secure Socket layer (SSL) encryption.
3. The merchant forwards the information to their registered Payment gateway via another SSL encrypted connection. The payment gateway forwards the transaction to the payment processor. The Payment Processor further transmits the information to the customer’s card issuing authority.
4. The card issuing authority transmits its response (approved, denied, etc) to the payment processor in code, which transmits that information to the payment gateway which relays the information to the original website, the merchant and the customer.
5. The merchant submits all approved responses to their chosen bank in batches (constituting many approvals) for account settlement. The bank deposits the approved amount to the merchant’s given bank account.

Advantages

1. Saves Time: You do not need to worry about installing expensive softwares, hardwares, servers and security protocols. All you need is a payment gateway, which does all the work for you since it removes the need to integrate a full payment platform. 

2. Helps in Bookkeeping: Before payment gateways, keeping track of all transactions was a complicated situation, with many transitions getting lost in the process. Now, every transaction is stored and can be referenced by the client at a click of a button.

3. User Friendly: Payment gateways are designed keeping user-friendliness as a top priority. The best payment gateway service providers make the software extremely simple so that small businesses have no difficult adapting to it.  

4. Affordable Fees: Due to the nature of payment gateways (which handle thousands, if not millions of transactions), they charge a very low fee for conducting the transactions (Usually just 1% of transaction amount). This is considerably lower than suing other channels of secure payment.

5. Convenient: Almost all online transactions use payment gateways along with almost all online merchants. This means it can be used anywhere.

Things To Consider While Choosing A Payment Gateway

1. Check whether your payment gateway accepts international payments and multi-currency payments. 

2. Find out whether the payment gateway is Payment Card Industry Data Security Standard (PCI DSS) complaint. It should also offer built-in security capabilities. 

3. It’s also good to ensure that your provider has the necessary technology to fight fraud and offer screening tools. 

4. Understand whether your business requires a hosted or a non-hosted payment gateway. And then check whether your provider offers the type of service you want. 

Choosing the right payment gateway is critical for your business. As an online ecommerce entrepreneur, it always makes sense to understand the full scope of the service before you launch your business.

Top Advantages of Choosing a Local Payment Service Provider

Any merchant running an e-commerce website would undoubtedly need a Payment Service Provider (PSP) of some sort or the other. Payment service providers form an integral part of a business as they offer a wide range of solutions to improve the company growth. They help merchants to accept credit card or other forms of payments along with other services like risk management, transaction reconciliation and fraud protection.

With an overwhelming number of payment service providers in the market, choosing a one that meets your business needs can be difficult. As an online seller, it is worthwhile to choose a service provider who is local so that he understands you, your target audience and most importantly the local market. Here are the top advantages of using a local payment service provider.

1. Local Currency- A local payment service provider will have connections with all the leading local banks and this will enable you to accept local currencies on your website. Having a merchant account with a local acquiring bank can be arranged by a local PSP and this will enable you to accept payments from customers in local currencies.  Thus, this will not only make the customers happy but will also save you from paying conversion fees. Like for instance, a local PSP can help you to avoid converting your customer’s payments from EUR to KES. Through a local PSP, you can gain higher profits, as it will exempt you from having to deal with fluctuating exchange rates.

2. Local Currency- A local payment service provider will have connections with all the leading local banks and this will enable you to accept local currencies on your website. Having a merchant account with a local acquiring bank can be arranged by a local PSP and this will enable you to accept payments from customers in local currencies.  Thus, this will not only make the customers happy but will also save you from paying conversion fees. Like for instance, a local PSP can help you to avoid converting your customer’s payments from EUR to KES. Through a local PSP, you can gain higher profits, as it will exempt you from having to deal with fluctuating exchange rates.

3.  Local Customers- A local PSP can be beneficial for your local customers too. Through a local PSP, customers will be able to carry out their transactions in the local language. This will not only improve customer experience but will also ensure a smooth and fast payment process. Transactions in the local language will speed up the time of transaction which in turn will keep the customers happy and boost up company sales.

4. Local Payment Methods- A local PSP will not only have the complete information about the most preferred payment methods by the customers but will also have all these preferred methods already integrated into their payment platform. Accepting multiple payment methods will not only help increase the customer satisfaction but will also improve the customer retention rates. Hence, it is worth investing in local payment methods.

5. Local Fraud Risks- A local PSP will provide risk management services and protect your business from fraud. PSP will not only keep customer information secure but will be aware of the all the common local fraud risks and schemes. They will have the expertise to accurately identify any fraudulent transactions, which an International PSP may not be able to identify as they are not equipped and familiar with local types of fraud.

A Local PSP can use the knowledge and expertise to keep the business secure, at the same time keep the customers happy and satisfied, all at a lower cost than using an international PSP.

Forced Signups vs. Allowing Customers to Purchase in Guest Mode

When we talk about user experience, it goes beyond the commonly understood norms of having good experience on a website. User experience is all about how the visitors feel on your website till the completion of their tasks. So, it matters how smooth navigation is and how quickly you can find information about the products you're going to buy without being redirected or clicking deeper links. 

What is User Experience

User experience is not just about smooth navigation. It's the overall experience that we offer to a visitor or customer. So from searching, filtering and selecting the right product to checkout -- everything should be smooth and quick. User interface should be intuitive.

Don’t Create Barriers in The Way of Conversion 

While doing this you need to keep all of the customer types in mind. There are a few customers, who do not want to sign up for your website while purchasing a product. If you have a policy of creating barriers such as mandatory signup or sign in, you may lose a great chunk of sales. According to surveys, there are a lot of customers who do not want to sign in or sign up for a website before they buy a product online. 

Allow Your Customers to Buy in Guest Mode

People resist signing up for various reasons. They may not want to be bothered about their email inbox getting spammed or mobile messages flooding in. Many a times, customers do not wish to signup because they may not intend to buy from you in future. They would also want to test the quality and service you offer while buying in guest mode.

The only way to persuade such customers to signup is offering them good experience. We understand that you need to harvest important data about your customers, but that shouldn't be done at the cost of annoyance of your customer. If they want to buy something anonymously, let them do it. Harvesting email addresses and other credentials is important but not always necessary. 

You must arrange for guest checkout as an option. Allowing your customers to buy in guest mode is always a good idea. It speaks well about your user experience and people love to buy from such sites. It doesn't mean that harvesting data is a bad idea; it only means that user experience should not be compromised at the cost of any such step. User experience should be on top and at the core of everything from searching the products to navigation to check out. 

Final Words

Forced signups sometimes hinder conversions. The same is true for a payment gateway integrated with your website. There shouldn't be any transaction failure from payment gateway. A transaction failure is always extremely annoying and not good for user experience. Choose an online payment gateway India that has a very low transaction failure rate. It should be supported by good technology. 

Why A Payment Gateway Is Crucial To Your Success In The Crowded Ecommerce Marketplace?

Digital has changed the way things happen in this world. Look around you - everything is digital now. Digital is no more linked with scientific fiction stories or sci-fi thriller movies like Tom Cruise's Minority Reports. Digital has actually become a part of our lives and is visible everywhere. 

The Digital Age

Needless to say that in next few decades, even your dresses and shoes would be attached with digital devices and you would be able to track the entire information about your house just by tapping the sensors attached to your shoe laces. You would be able to check what is there in the refrigerator, what needs to be thrown out and what can be consumed right away from its shelves. 

With shopping and business going global, digital payment has become an inevitable part of our daily life. You cannot even think of ancient methods working these days. ECommerce stores and online businesses can’t function if physical invoices, bills, and paper documents are exchanged between a buyer and a seller to complete a transaction, forget about making cash payments.

It is not just difficult, it's nearly impossible. It will not be able to support the way E-Commerce is conducted today with volumes of transactions taking place and trade happening across international borders.  Similarly, payment hassles will hinder any purchase attempts made by buyers online.

A Global Shift From Manual to Digital

With rapid globalization, increasing population and increasing complexity of life, technology has become the only life saver. In order to conduct commerce, money should be transferred from one hand to another without any friction. You cannot accept payments, if you are not ready to adopt the technology that facilitates you to accept payments across the world. Processing hundreds of transactions instantly every day is manually not possible. 

Gain The Trust of Your Customer

A payment gateway is an innovative technology that helps you overcome this problem. A secure payment processor enables you to accept payment quickly and easily, while keeping the financial information of your customers entirely safe. It is extremely important to gain the trust of your customers otherwise they will never share their financial information on your website.

Premium Services are Always Charged 

A payment gateway is an indispensable tool that helps you make money online. Just like every useful service, this is also a paid service. Choose a professional gateway service so you do not face problems that might impact your productivity.  So, even if you are being charged you must be sure that every penny you are paying adds value to your business and is helps you to increase your online profits. 

Customer service is a game changer.  Make sure your secure payment processor offer robust support, so in the event of any hiccup or problem it should be resolved as soon as possible without interrupting purchase transactions taking place on your website. Payment gateways can be the game changer as far as the success of your web-store is concerned.