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How does one start a payment gateway? - Computers & Internet

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The global shift of business' focus to web markets has caused a consequential large-scale shift of payment modes. Today, it's possible to host a business in one corner of the globe and manage customers residing on the other side of the globe. However, every internet-based enterprise requires a reliable payment gateway to manage both online and offline payment processes including invoice generation, sending the invoice to customers and payment collection as well as payment reporting.

If you own an enterprise that intends to expand its market coverage to denser, far-flung locations or online markets, you will require a credible payment gateway to handle your payment collection process.

While the easiest and cheapest approach would be to seek the services of a white label payment gateway provider, this leaves you very limited room for customization as you are bound by their terms of service and features. The best approach is designing a personalized payment gateway.

Posted on May 19, 2017

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payumoney_co
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SOURCE: What is a payment gateway?

Payment gateways are an easier way of paying for the items you plan to buy without being present physically or with hard cash.

When you are planning to buy some clothes or any other product online, you need to be able to pay for it at once. Unlike going to a physical store and swiping your card, you get to transact the money virtually to the vendor.

The web page that makes this possible is a payment gateway. Many service providers connect with different web portals and banks to give you a variety of payment options such as debit card, credit card, net banking, Sodexo points and even cash on delivery. With a payment gateway, you need to enter your card details for a secure transaction, and you can instantly pay for the items you wish to buy.

This is relatively simple, and payment gateway providers such as PayUMoney are extremely popular because they offer quick transactions and no margin for error!

For more information
https://www.payumoney.com/

Posted on Aug 16, 2016

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I need a Payment Gateway in India with no setup fees, what is the best payment gateway?


A good and free online payment gateway in India is PayUmoney. It starts by offering free setup and no maintenance fee. Users can choose between full integration and a single button so as to make use of the gateway. Once an account is set up, whether for an application or website, clients can make payments via debit or credit cards and net banking as well. It doesn't require any complex procedures to begin using. The user interface is also simple to work with and therefore poses no difficulty for the clients that will use the gateway for their purchases.

Security is always a major concern when it comes to online transactions. PayUmoney assures clients of secure transactions with the adoption of PCI-DSS Level 1. Data is encrypted using 128 bit SSL encryption to keep it safe from unauthorized parties.

Any business will benefit from this free online payment gateway with minimal effort.

Jul 06, 2017 | Gateway Computers & Internet

1 Answer

How Do I Build a Payment Gateway?


With the main aim of businesses being to expand profit margins, major emphasis has been placed on strategies geared toward incremental traffic for business websites. In addition to expanding your client base, you require a convenient and efficient payment strategy to ensure all payments for your products and services flow unerringly into your account to add up to your target profits. With effective payment gateway integration in Android, you can substantially expedite your business' payment processes to allow you better handle more payments for increased profits.

If your business urgently requires a payment gateway, the most readily available solution is to seek out a reliable payment gateway provider. Incorporating their services will doubtlessly present you with several but limited perks associated with payment gateways. To enjoy full-scope benefits, you need to have a personalized payment gateway for your enterprise.

Creating a payment gateway
The process of setting up a payment gateway is time-consuming and involving. With the requisite components and know-how, it will take you approximately 1 year. However, you can hire a reliable payment gateway developer that will expedite the undertaking but cost you a sizeable sum. Either way, your business will benefit profitably from payment gateway integration in android and other prevalent mobile communication platforms like iOS and Windows

May 19, 2017 | Computers & Internet

1 Answer

What is the fastest payment gateway?


Businesses worldwide, especially those leveraging online markets to substantiate profits are continuously plagued with payment hitches ranging from delayed invoice reception to untimely payment deposits, unfavorable payment policies and unreliable payment collection arrangements. However, integrating the services of the best payment gateway in India can minimize these drawbacks and extrapolate your business' profit margins quite substantially.

Since you will most probably be dealing with incremental traffic and customers, you definitely need a payment gateway that will execute all payment processes speedily to expedite the whole payment process. Such a gateway should possess the following features:
  • Short check-out time- this will allow your customers to swiftly pay out invoices and motivates them to retain their membership as your clients.
  • Speedy payment processing.
  • Fast transaction approval - the payment gateway's rate of credit or debit card validation should be fast to enable customers proceed with purchases and payments more speedily.
  • Straightforward payment process- the fastest payment gateways exclude website content that's likely to cause sluggish response to payment collection websites. Their payment portals are designed with minimal content to reduce distraction and help customers focus on the payment process.
  • Easy-to-locate payment portal- for speedy payment executions, a payment gateway should have strategically placed payment options that are not only easy to locate on the page but also swift in response to commands. A customer shouldn't have to wait eons for the command buttons to execute.
  • Minimal number of screens before landing the payment form.
  • Simplified payment forms.
Although speedy response is critical to swift online payment executions and collection, the best payment gateway in India additionally presents unrivaled ease in payment follow-up, reliable transaction safety and smooth payment process, all additions geared toward expediting secure payments for continued profitability.

May 19, 2017 | The Computers & Internet

1 Answer

How to start a customized payment gateway?


Generally, you will require a wallet to store credit card data and a gateway to process payments. In order to design a personalized payment gateway, follow these simple steps:

Build mobile and web apps to help you conveniently collect payments via mobile phones and the web respectively. Contact the preferential bank you want to be the Member Service Provider (MSP) of your payment gateway- to validate customer registration and payments. Register as an Independent Sales Organization (ISO) with major card associations like MasterCard and VISA to allow you acquire a secure point of sale. Create complete backend policies to allow for merchant creation, billing, report generation and other back-office processes. Avail log-in information to clients via extensions to help them view invoices, execute payments and generate cancellation and refund reports. Provide a payment account where your customers will deposit payments conveniently. Moreover, you can acquire detailed information regarding setting up a fitting payment gateway from trusted banks in your region.

It's crucial to note that every region has set rules governing payment gateways therefore you'll be required to look deep into the various bank policies and state laws to establish the most fitting approach in your payment gateway establishment.

May 19, 2017 | Computers & Internet

1 Answer

Is payment gateway processing fees negotiable?


Experts associated with ecommerce business acknowledge that "Payment Gateway" is a vital factor of their business. The payment gateway service providers help in secure and prompt online payments. Ecommerce establishments look for the cheapest payment gateway. The dilemma is that quite a few popular payment service providers are there to select from, people get confused which one is the best or which one will meet their all needs and will be the cheapest one. Few payment gateway companies allow negotiation, but that is possible if the business house could show a high level of transaction every day which needs to be at least 500-600 per month.
As a whole, the payment gateways need to abide RBI rules in India. So, there is always a minimum charge they have to impose. Depending on the volume of business and commercial viability of the ecommerce payment gateways can offer discounts only.

Apr 12, 2017 | Gateway Computers & Internet

1 Answer

Which is the best payment gateway for a small store?


In my opinion, PayUmoney is the best payment gateway in India for small businesses. Here's why:
Setup Fee - Zero
Annual Maintenance Fee - Zero
Transaction Fee - Just 2%

Yes, PayUmoney has no initial setup and annual fees. And, the registration process is simple. You can start receiving payments for your products within five minutes. And, the company offers real quick settlements. No more waiting for an entire billing cycle before you can get the payments credited to your bank account. It just takes two days to receive your money.

Another feature that, I like is that you can link any of your bank accounts and receive payments directly to your chosen account. No more wasting your time in opening a new bank account just to get payments.

When it comes to the convenience of customers, PayUmoney wins hands down. Customers need not create a separate account to make the payment. They can just pay with a mail id. Also, it offers simplified mobile solutions for both Android and iOS. Above all, they take security pretty seriously.
So, if you are looking for a payment gateway for your online store, then get started with PayUmoney and be free from payment hassles.

Apr 12, 2017 | Gateway Computers & Internet

1 Answer

What is the best credit card payment gateway to use for a simple e-commerce site?


For a simple e-commerce site there are quite a few options available when it comes to credit card payment gateways. One such brand currently doing well in this space is PayUmoney.

PayUmoney offers a hassle-free payment gateway integration services that is suitable for both businesses and their clients. It has unique features such as no need for the customer to log in to make a payment (the customer's e-mail id suffices), immediate set-up for the merchant so that the business can start transactions immediately, the freedom for customers to make purchases form any device and finally the simplicity of adding one's bank account to the gateway in order to start accepting payments. It does away with the need for the merchant to open a bank account.

Apart from PayUmoney, other payment gateway integration service providers include CCAvenue (acquired by PayUmoney in September 2016) and Citrus Pay to name a few.

Jan 12, 2017 | Computers & Internet

1 Answer

Is Instamojo the best India Payment Gateway in India with no setup Fees ?


Payment Gateways have become modern day trend of collecting payments for businesses. I have heard and used quite a few; however, PayUmoney would be the one I'd strongly recommend. Most of the payment gateways do not charge a set-up fee; however, the integration is charged along with the additional fee on each payment.

While in PayUmoney, the set-up activation and installation is the easiest process. If you're a start-up entrepreneur or a freelancer who sells digital products like e-books, music, videos, then collecting payments through PayUmoney would be the best, as it's a pay per transaction with the lowest cost in a market at flat 2% per transaction.

Along with this, PayUmoney also offers express integration, using which you can easily collect online payments instantly on your website or Mobile app. Apart from that PayUmoney facilitates fastest account activation, fastest settlement, and the payment can be received in your existing bank account. Moreover, it offers secure payment and seamless user experience. You can also access your account using their mobile app.

All in all, I'm really happy with PayUmoney payment gateway and would highly recommend to others.

For more information about PayUmoney payment gateway visit
https://www.payumoney.com/

Oct 27, 2016 | Gateway Computers & Internet

3 Answers

What is a payment gateway?


Payment gateways are an easier way of paying for the items you plan to buy without being present physically or with hard cash.

When you are planning to buy some clothes or any other product online, you need to be able to pay for it at once. Unlike going to a physical store and swiping your card, you get to transact the money virtually to the vendor.

The web page that makes this possible is a payment gateway. Many service providers connect with different web portals and banks to give you a variety of payment options such as debit card, credit card, net banking, Sodexo points and even cash on delivery. With a payment gateway, you need to enter your card details for a secure transaction, and you can instantly pay for the items you wish to buy.

This is relatively simple, and payment gateway providers such as PayUMoney are extremely popular because they offer quick transactions and no margin for error!

For more information
https://www.payumoney.com/

Aug 04, 2016 | Gateway Computers & Internet

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