WE do both consultancy and the integration development.
What is payment gateway?
In simple words payment gateway is a software application provided by a bank that reads payment cards information of your customer to the merchant acquiring bank for transaction processing.
Why you need payment gateway integration for your online business?
If you are running a online business and still you work on pay on delivery or the ,bank slip needed as a payment prove then it is one of major inconvenient for your customers.As well you are losing potion of your potential customer base.Having lack of online payment option have a big negative impact on your business development and you are down lift yourself with the competitors who are capable of online payments.
So that is why you should think of enabling online payments through your website or mobile app.By letting your customers to complete their business deal online you are making your customers hazel free and you also could become a confidence full online business dealer.No more worries about the payments even for you as you get the payment directly on your account.
What you should consider when selecting a local bank for payment gateway?
Before selecting bank for gateway integration you should know which credit or debit cards are accepted for their online payment gateway.
- Gateway setup and purchase cost
How much you should pay to buy the payment gateway facility from the bank.Generally every bank have fixed amount which you have to pay initially to buy the gateway.
After buying gateway facility you should pay monthly or annual payment gateway maintenance cost for the bank and amount varies from one to another.So you should first search and compare each to find the best one.
To integrate this payment gateway facility with your business your connected business account which receives the payments initially should have a minimum deposit with it. The amount and this amount also varies between each bank.
Transaction commission charge
Transaction commission charge means the bank is getting a fixed rate of commission for each transaction you done through the payment gateway and normally it's from 3%- 5%.
- Quality of the gateway services and previous implementation examples
This is the most important fact your should consider. Though you met a very nice bank gateway which matches your budget with above facts if the gateway is not quality and up to standards then you are loser. Because quality of the service depends and varies from one bank payment gateway to another. So while you searching for background details make sure you ask for previous done business integration as it is a prove of the success of their gateway services and the quality.
Does it safe to handle money via payment gateway?
When it is come to a critical fact like money transaction in business this is a common and must ask question.Because we know that money is everything for a business so you always should care.Simply the answer for the above question is "YES".Because to ensure that transaction safety every payment gateway encrypts all sensitive information including credit card number, expiration date ,etc..
How payment gateways functions when transaction take place?
Though payment gateway is a technical term it is always must to completely clear the doubts of a feature you going to integrate for your business and knowing the workflow is really helpful. So below we have simply listed down the process flow and you are still welcome to contact us if any further clarification needed .No worries are not charging for this knowledge sharing.
- First your customers place an order by your web site or the mobile app and process the order for payments.
- This payment confirmation details will sent to the merchant's web server in encrypted format.
- Then the transaction details related to the payment will be sent to the payment gateway we have already integrated.
- Then Payment gateway will forward these details to the merchant's acquiring bank.
- Then these the transaction information will passed to the to the issuing bank(card holder's bank) by the merchant's bank.
- Then the card issuing bank sends a response back to the Payment Gateway with the information whether the transaction been approved or declined.
- The response is then forwarded by the Payment Gateway to the merchant’s server and then merchants server encrypted again and send to the customers letting them to know whether transaction is successful or not.
Why Trans Ceylon for payment gateway integration?
Payment is the core of your business. If these feature is not developed correctly for your business then you are in a big trouble. That's why you need the assistance and the service of a company like us with high high reputations in providing payment gateway integration. Our professionals will develop and integrate the payment gateway and at the same time will provide you the knowledge of the whole process take place while working with a payment gateway.
No matter if you have no committed decision and just worrying whether payment gateways goes with your business. Then do not hesitate to contact us.We are here to help you in any digital matter. We will discuss and let us see what would be the best option for you.
Enhance your business by online payment options.Join with Sri Lanka's bets payment integration provider Trans Ceylon Pvt Ltd.