When setting up your shop, in addition to hosting and software, you are faced with the choice of payment method. This is by far one of the most important decisions an online shop owner has to make. Security and speed are key elements for a smooth payment process. Which method is currently the most popular and is even expected by customers? The answer to this question is payment gateways.
What are payment gateways?
Payment gateways – provide a seamless payment experience. Run by specialised and companies that are called payment gateway operators. Gateways capture and transmit payment data from the customer for authorisation, then transmit payment acceptance/rejection to the customer. The payment gateways verify the customer’s card details, securely, ensure the availability of funds and enable payment to be obtained. It serves as an interface between the merchant’s website and its settlement agent. Encrypts sensitive credit card data, ensuring secure transmission of customer information to the acquiring bank via the merchant.
Payment gateway – transaction flow:
- Choice of payment method by the customer
- Transmission of encrypted data to the payment gateway
- Processing of the bank transaction
- Validation of funds in the customer’s account, sending information to the bank about the completed transaction, sending money to the merchant’s account
Payment gateways make payments available through various channels, these include: credit cards, debit cards, fast transfers, mobile payments, SMS payments, Paypal and Blik. The most popular gateway operators on the Polish market are: Przelewy24, PayU, TPay, Dotpay.
When deciding on a payment provider, it is worth examining the various aspects:
- required safety standards
- the amount of fees – start-up fees, fees for withdrawing money from a transitional account to a company account, fees for transfers and transfers
- technical support
- types of payment channels supported
Convenience and security are the main advantages of payment gateways, as well as reduced transaction times and 24/7 availability. If you want to be a major player on the e-commerce market, it is worth taking care to implement solutions such as modern payment methods.