ECommerce Payment Gateway

An ECommerce Payment Gateway is the equivalent of a cash counter or a collection counter at a retail outlet. Simply put a Payment gateway is a software that runs on your ECommerce site and ensures that the money is collected from your customers and sent to your bank account.

A good eCommerce payment gateway will do more than just transfer the customers payment to your account. It will:

  • Provide an authorization to complete the eCommerce transaction once the payment has been successfully received.
  • Send settlement messages to both the buyer and the seller
  • Maintain reports of all successful and failed transactions
  • Ensure that the financial transactions and genuine and prevent fraudulent transactions

How Does It Work?

Once a customer decides to pay for the products or services that she wishes to purchase:

  • The order details are securely transferred from the eCommerce platform to the payment gateway.
  • The Customer decides and selects a method of payment which could be a credit or debit card, bank transfer or even a wallet.
  • Once the customer fills the payment data on the gateway, the data encrypted and sent to the issuing bank or card issuer (VISA, MASTER, AMEX etc), and a request for authentication and authorization of the transaction is initiated.
  • Depending on whether the authentication is successful or not the transaction is either authorized or declined by the card issuer or the bank.
  • This result is transmitted to both the seller and the buyer by the payment gateway
  • If authorized the bank transfers the money to the payment gateway.
  • The payment gateway then transfers the money to your account.

What Should You Look For When Selecting A ECommerce Payment Gateway?

No business can afford to make mistakes in financial transactions. So be careful when you choose a payment gateway.

Origin Consultants choose eCommerce payment gateways for their clients if the solution includes:

  • All possible payment options including all issuers of wallets, debit cards, credit cards and of course Online Bank transfers. You never know how your customer may wish to pay.
  • Allows transactions in multiple currencies
  • Has a convenient transaction process for the buyer at the front end and the seller at the back end.
  • Provides instant notifications on both successful and failed transactions to customer and merchant.
  • Has been approved by the financial regulators, is certified, is safe, fraud proof and complies to all security and regulatory standards.
  • Offers a plan that is suitable to your immediate business volumes and provides for increased volumes in future.
  • The fixed charge and transaction fees are viable for your business
  • The support provided by the payment gateway team

Contact Origin Consultants to help select your eCommerce payment gateway for your online transactions.