According to eCommerce cart abandonment surveys, one of the top reasons to drop a shopping cart midway is the lack of payment options on your eCommerce website. This means that choosing the right payment gateway is imperative to maximizing consumer convenience while minimizing risks.

Retailers are trying hard to create convenience around online payment gateways. But this is also the most vulnerable zone – invaded by hackers and cyber miscreants. The eCommerce industry is growing faster than ever, with the consumers’ renewed interest in distancing, contactless payments, and, more importantly, the stay-at-home convenience of shopping.

About the payment gateway

Essentially, the payment gateway is a technology that records and transfers payment data. At least two parties are involved, the merchant (or seller) and the customer. The gateway also provides ‘payment declined’ or ‘payment accepted’ messages to the customer indicating the success or failure of a transaction. It acts as an interface, where it validates the customer’s details and then dissipates funds across to the merchant securely. Sensitive card details are encrypted to ensure that information is passed on carefully.

The Process

The eCommerce ecosystem is fully supported by the payment gateway where online payments transition smoothly from the customer to the business. Once the product is chosen, the customer must navigate the checkout and the payment pages. There are several payment options available at this point, depending upon how your business is fashioned.

You can choose the hosted payment page, where customers are automatically redirected once they are ready to make the transfer. The process minimizes the PCI burden for online businesses, especially if you do not want to collect and store data on the server.

A direct server-to-server integration helps two servers communicate to facilitate the payment. In this case, the merchant and the payment gateway servers are in touch to acquire card details and directly initiate a transaction.

Finally, client-side encryption or encryption-at-source is a methodology where you can accept the payments on the merchant’s website after encrypting the data on the browser. This uses the encryption library on the payment gateway.

Accepting Credit Card Payments Online

One of the most basic ways to accept payments on your E-Commerce store is via debit or credit cards. The receiver can use an intermediary holding account or a dedicated merchant account. Each of these approaches comes with different funding times and processes, and therefore, it is vital to choose wisely by determining the best fit for your business. Visa is the largest and most widely accepted instrument among credit cards. However, there are other players, too, such as MasterCard, American Express, and Discover – to name a few.

Accepting PayPal Online

Whether you have a clothing store website or a furniture store website, all regular online shoppers are acquainted with PayPal. The gateway accepts a wide range of currencies and is considered one of the quickest and easiest ways of receiving money. Customers can either use a debit card, credit card, bank account, or an email address to process the payment. The platform also comes with single solution checkouts, buy now pay later, invoices and estimates, and selling on social and recurring payments. All these are beside the debit and credit card methods.

Setting up Merchant Accounts

Whether you are a brick-and-mortar business or an online merchant, creating an account for yourself is always in the best of your interests. You must possess a merchant account to accept credit cards or any cashless payments for both types of businesses. The merchant and the bank enter into a virtual agreement to process payments with an account. Before you get an account, you have to satisfy some critical elements and conditions such as business size, turnover, type, and others. We can set up many gateways for your eCommerce web store including, PayPal, Stripe, Authorize.net, Chase Paymentech, Square to name a few. Please contact us if you have another merchant account and we will get you set up.

Accepting Cryptocurrency at Checkout

Cryptocurrency is fast becoming mainstream, and business owners have to consider flexible payment options other than credit and debit cards. With credit frauds surging worldwide, technologists are urging people to use more secure spaces such as the crypto wallet that are absolutely impermeable. So, while customers get reinforced security in transactions, merchants can manage their cash flow better.

Payment Gateway Setup by dbmanagers

At dbmanagers, we provide payment gateway setup services depending upon your business requirements. Riding upon the number of gateways that you wish to utilize, we configure separate profiles with unique merchant IDs for each one of them. We also identify the common and supported configuration fields and install individual default gateways to process payments for your customer accounts.

Benefits of dbmanagers’ Ecommerce Management and Maintenance

The day-to-day maintenance and management of eCommerce stores can be cumbersome and even take your attention away from the core needs of the business. Therefore, it is imperative that you choose the right kind of experts and certified providers to manage your work, keep your eCommerce website up to date, and be available round the clock. Our services include updating pricing, description, traffic analysis, payment gateway integration, system upgrades, layout optimization, and much more.

Here is why you should use dbmanagers’ support and maintenance services for your eCommerce stores:

• We fix all security issues to ensure that unwanted hackers do not exploit any inadequacies in the system.
• All obsolete elements that can slow down your website are fished out while also drafting roadmaps to fix broken links.
• We help you stay informed of all rapid-paced developments and apply version upgrades whenever available.
• Your eCommerce website is a source of impression, and therefore we ensure that every customer gets an optimal experience.
• When customer experience is good, customer retention follows – and it is expected that consumers will swarm your website even during the holiday season.

If you are looking to set up and integrate your payment gateway and would like professionals to maintain and manage your eCommerce website, reach out to dbmanagers today for a consultation. Designing E-Commerce websites is our forte. Give us a call or email us today.