For eCommerce merchants, payment gateway is nothing less than a boon. It makes the process of transaction a very convenient one and helps the business to expand without worrying about the risks of fraud or chargebacks. The payment gateway acts as a middleman between the merchant and the customer and validates the customer’s card details in an encrypted format and then process the payment.
Key players in online payments:
Processing payment online is not that simple as it seems. When a customer clicks on the “Pay” button on the merchant’s website, the key players involved in the payment process are as follows:
- The merchant: Of course, this is you, or anyone who is selling a product or services online.
- The customer: the one who is buying your product or service, and is ready to initiate the transaction
- The issuing bank: the issuing bank is the customer’s bank that issues the customer’s credit or debit card on behalf of the card schemes
- The acquiring Bank: also known as the acquirer, is the financial institution that maintains the merchant’s bank account. On verifying all the required details, the acquiring bank passes the merchant’s transactions to the issuing bank to receive payment
Why Merchants need a payment gateway
1. A payment gateway acts as the gatekeeper of your customer’s payment data.
2. A payment gateway also protects merchants from expired cards, insufficient funds, closed accounts or exceeding the credit limit
3. For online merchants, a payment gateway relays the information from you, the merchant, to the acquirer and the issuing bank using data encryption to keep unwanted threats away from the sensitive card data.
Why Choose ClickZep?
At ClickZep, we offer outstanding services to the merchant who wishes to enhance their eCommerce business. With the help of our experts, you can easily opt for credit card processing solutions and multiple currencies for increasing the productivity of your online business. Moreover, we also allow the merchant to have a secure gateway supported by PCI-DSS solution, API integrated tools, and several services for enhancing your transaction.
It is true that finding the correct payment gateway for websites can get very challenging and exhausting, but not anymore. ClickZep is the answer to all your queries. Think of it as one-stop-solution, where we as your payment service provider are ready to offer a flexible, easy to use payment platform. Our experts are available 24 hours for enhancing your transaction without any difficulty.
Read our another blog post : Payment Gateway Providers in India
Online Merchant Accounts 