Generally, there are three different options when considering a payment gateway on your website.
1. Redirect
Site owners can simply copy the payment link and paste it on their website. When customers want to pay online, they are directed to a separate payment page.
This option has the advantages of simplicity and security provided by payment gateways. However, a payment gateway means less control over the business and adds a second step that affects conversion rates.
2. Pre-built self-hosted payment gateway.
After installing a self-hosted payment gateway, customers collect details directly on the merchant's website, not on a third-party website. The customer card details are then encrypted and submitted to a third-party payment gateway for authorization.
Since the payment page is displayed on the e-commerce site, the user experience is better than redirection. Most payment gateway company are also relatively easy to install via a simple widget, plugin or code editor paste.
However, if anything goes wrong with your payment site, you still have no control over your customer's entire payment experience.
3. ApI hosted payment gateway.
ApI Managed Gateway will take place the entire payment process on your website and server. It's great if you have a large business and you're dealing with a lot of sales.
Unfortunately, while you now have control over your customer's entire payment experience, you'll need to pay extra for SSL certification and make sure the payment process is pCIDSS compliant, since you're responsible for security.
Related Hot Topic
Is TCS a provider of payment gateways?
An integrated system, TCS BaNCS for Payments provides robust end-to-end multi-product payment processing capabilities. The solution is based on a cutting-edge design that makes it simple to integrate with internal systems, market infrastructure, and customer channels.
How does a payment gateway provider operate?
Customers and businesses must collaborate while using a payment gateway in order to complete a transaction. The payment gateway examines the customer's card information after they've placed an order and determines whether they have enough money in their account to pay you.
GPAY – a fintech business?
This fintech company experienced tremendous success during the Covid-19 pandemic, and today the majority of fintech businesses are aiming to launch their digital payment platform. The most widely used electronic payment systems in India include PayTM, Google Pay, PhonePe, and Amazon Pay.
What is an Indian fintech company?
In essence, it refers to the use of technology to enhance efficiency and risk assessment in the insurance sector. In 2021, this quickly expanding industry received a total capital investment of 7.51 billion USD. Let's look at the well-known fintech insurance providers in India.
