Payment Gateways

Integration

Building an ecommerce store requires business owners to make many considerations. How should the website be designed? How should the products be organized? And how can customers take comfort in payment security?

For most online customers, perceived security is very important. Installing a payment gateway on your ecommerce store is the best way to ensure that all transactions are safe, while putting customers’ minds at ease.

Payment gateways act as the intermediary between your website and the customer. When a customer makes a purchase, they must input their credit or debit card information. The payment portal keeps this information secure, and also ensures that the payment funds are available.

How It Work

How Do Payment Gateways Work?

For ecommerce store owners, payment gateways are an absolute necessity. Not only do they allow for a seamless transfer of information, but payment gateways keep this credit card information secure as well. This security is a must for customers who may be skeptical about making a purchase on an ecommerce store.

During each transaction, payment gateways perform these three functions at a nearly instantaneous pace:

Encryption

The first step in the payment gateway transaction process is encryption. Before sending the name and credit card information to the bank, the payment gateway encrypts the data. This prevents hackers from receiving this information in a usable format. Then, the gateway sends the information to the bank account receiving the funds.

Authorization Request

After the bank has received the request for funds, the payment gateway then routes a payment request to the customer’s bank account. In essence, the payment gateway ensures that the credit card information is correct, asking the customer’s bank account (through the payment processor) for permission to draw the necessary funds. At the end of this step, the bank of the credit card either confirms or denies this permission.

Order Fulfillment

When transactions are confirmed, the processor sends a notice of confirmation to both the ecommerce store owner and the consumer. Finally, the payment process is complete.

Settling

After confirming that the transaction went through as planned, the payment gateway clears the transaction. Then, it takes approximately two days for the payment to fully process.

So, each time a customer makes a purchase from your ecommerce store, this process takes place. While it can be a lengthy and complicated process, payment gateways streamline this to last seconds at most.

Features

Why Do You Need a Payment Gateway?

Unlimited Amount of Users

Unlike many in-house payment solutions, payment gateways can be used by an unlimited amount of users. This means that, regardless of the high demand, users can purchase items at their own pace.

Legitimacy

With a lesser-known ecommerce store, convincing customers that your operation is legitimate may be difficult. A payment gateway assures customers that their credit card information is not being forwarded directly to them, and is handled by an outside party.

Direct Payment

Rather than channeling payments through a third party, a payment gateway ensures that your account receives money right away.

Security

You should never lose customers due to payment security issues. A payment gateway prevents their information from falling into the wrong hands.

Speed

In our fast-paced world, prospective customers have no patience. Payment gateways enable transactions to take place in a fast-paced manner.

Payment Gateway

What Can I Use as a Payment Gateway?

Now recognized as the standard for payment gateways, Stripe has numerous advantages. Built primarily for developers, we can integrate Stripe into your website with ease, while customizing its features for your audience.

As a premier payment gateway software, Authorize.net is the fast and secure solution that many ecommerce store owners need.

PayPal is practically synonymous with the concept of a payment gateway. Many prefer it as a way to be accessible to both credit and debit card users, and it’s free for buyers to use.

Especially popular among millenials, Venmo is recognized as a fast and secure payment transfer tool. Integrating Venmo into your website ensures a clean, easy transfer of funds.

As a PCI-compliant payment gateway, Square helps businesses to receive payments with ease. Without a set-up or monthly fee, Square is a valuable addition to most websites.

Integrate

Integrate a Payment Gateway Into Your Ecommerce Store Today

With the right payment gateway, your ecommerce store can boost conversion rates. At Logic eCommerce Solutions, our staff is experienced in devising payment gateway strategies. Contact us for more information.

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