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A Short Guide On How To Integrate A Payment Gateway

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By Author: Sahil Verma
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To make the purchasing process easier for customers, most businesses that sell goods or services online should integrate a payment gateway. This software solution allows money to be transferred from the customer's account to the seller's account in a matter of seconds.

In this blog post, we will look at how online payment gateway works and how to choose the one that is best for your company.

How Does Payment Gateway Work

A payment gateway, as a middleman between the customer and the merchant, handles a wide range of financial transactions, from money authorization (to ensure the seller has the requested amount to pay for the purchase) to refunding in the event of a canceled order.

When the customer confirms the order, the payment details are sent to the app's server and then to the payment processor, card network, and issuing bank via the payment gateway. The bank approves (or rejects) the transaction upon request and sends the confirmation back to the same chain of participants.

Security Issues

As payment gateways transmit sensitive transaction information ...
... to users, they must ensure the security of data such as CVV code, card number, card holder's name, and so on. As a result, each payment gateway must maintain PCI DSS compliance, which entails strong data protection, regular testing, encryption, and the implementation of access control elements, among other things.

The Types of Payment Gateways

Depending on the size and needs of the business, there are several types of payment gateways to choose from. To help you make a decision, we'll highlight their benefits and drawbacks, as well as the difficulty of the integration process.

Hosted

Customers are redirected from your app to the hosted payment gateway's platform to make a payment, and they are returned when the payment is complete.

One of the primary benefits of such a solution is the ease with which payment gateways can be integrated: for apps that use popular e-commerce platforms, it may be sufficient to simply install an extension. If you have a custom web or mobile application, you may want to hire software developers for assistance, but most service providers have detailed instructions on how to integrate their payment gateway. Another significant advantage is that the service provider also manages all security issues.

What about the drawbacks? For starters, redirecting customers to third-party services degrades the user experience and reduces conversion. Second, if you change partners, you may lose your client database because service providers keep all data.

This is the best option for small and medium-sized businesses.

Integrated

Customers who use integrated payment gateway solutions stay on your app and the payment is completed without being redirected elsewhere.

It has a better user experience and more control over the data than a hosted gateway. Along with these benefits, there are some drawbacks: you must take care of fraud protection and user data security (PCI DSS compliance), as well as devote more time to the payment gateway integration process. While some apps can easily integrate a non-hosted payment gateway using APIs, those that run on a custom engine will require technical skills or assistance from the software development team. Medium and large businesses will benefit from integrated payment gateways.

Custom

This type of payment gateway improves on the previous one by providing the highest level of control over payments while necessitating extensive technical knowledge. You do not need to rely on third-party services or share any data with them if you use your own custom payment gateway. Furthermore, it allows you to make any necessary modifications and changes.

Price (a software development team will be required), time (development, testing, and integration will take time), and security-related challenges are among the disadvantages of this type (meeting PCI requirements and handling documentation issues). Custom payment gateways are an option for large businesses and enterprises.

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