How to Integrate Payment Gateway in your Website?

Ecommerce businesses share a common top priority i.e. to safeguard their customer's interests while providing them with an easy-to-use payment system. This is precisely why the vendor you choose must meet both your company’s and your consumers’ needs. Over 21% of customers depart websites with a lengthy checkout process, and 17% abandoned websites that are not secure.

Therefore, integrating a payment gateway into your store will increase the security of your site while also improving the user experience. In this article, we will discuss how payment gateway integration is done in a website and how it works along with the types and costs of payment processors.

What is Payment Gateway
Similar to what the term suggests, payment gateways offer customers a convenient method to checkout with their items at eCommerce stores. During the payment process, data is encrypted to ensure security and some companies immediately add tax if they suspect fraud.

Simple Ways To Integrate A Payment Gateway On Your Ecommerce Platform

Choosing a Payment Gateway
The first step would be to select a payment gateway out of the several alternatives available. The customer’s bank card information is processed by sending it to the payment gateway’s web server, which completes the transaction and delivers the confirmation back to the website. This is precisely why it’s important for people and businesses to elect a payment gateway that meets their requirements conveniently.

Consult Your Web Host
Payment gateway services may be available from your web host or online store software supplier, which you can rapidly integrate into your suite. Visit the admin page on your eCommerce store to see if any other payment gateway options are present. You can also go through the site’s control panel for the same.

Take the Pricing Structure into Consideration
Regardless of what sort of payment gateways you wish to incorporate, this software will generally cost you a one-time fee or a monthly subscription charge. A few payment gateways even include small fees for varied transactions in their pricing structure. Compare prices to locate the service that best suits your requirements.

Choose Between an External Gateway and a Direct Gateway
External gateways (also known as “redirects”) direct your clients to a different website to complete the transaction. Direct gateways (sometimes known as “transparent”) handle transactions within your store, allowing customers to remain on your site.

Apply for a merchant account
Without possessing a merchant account, e-commerce businesses cannot receive payment transactions from people shopping on their platform. A merchant account enables you to link a payment gateway alternative and receive payment transactions simultaneously. You’ll usually be charged per transaction if you have a merchant account.

Create an Account
Post creating an account, you can then exchange information regarding payment transactions between your payment gateway and your e-commerce store accordingly.

How can Businesses Integrate a Payment Gateway on their Platform?

Setup Your e-Commerce Store
Most internet businesses will establish a webshop for their clients using third-party software. This program creates the ordering page and all of the codes for sending payment information to the gateway.

Include Payment Options
The procedure varies for each provider, but in general, you’ll need to enter your payment gateway credentials for each type of payment you plan to accept (Visa, Mastercard, etc.).

Check the Gateway’s Functionality
Your payment gateway service will usually supply you with Test or Sandbox accounts. These allow you to make fictitious transactions to confirm that the payment system is functioning correctly. Before you make it live, remember to check it out.

Bottom Line
There are numerous payment options available. When deciding how to construct a payment gateway integration for a website, there’s no need to recreate the wheel. You have the option of using both hosted and non-hosted gateways and locating ready-to-integrate components for your website. If you want to be more creative and integrate payment into a website that stands out from the crowd, design your own.

Source: https://www.zenesys.com/blog/integrate-payment-gateway