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How to start a customized payment gateway? - Computers & Internet

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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.

Posted on May 19, 2017

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Posted on Jan 02, 2017

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How much does the Payment Gateway cost?


Every online business needs a payment gateway linked to their e-commerce store so as to enable customers pay for the goods bought. It must integrate with the website smoothly so as not to discourage customers and therefore remain with abandoned carts.

Payment gateways come at a price but the exact amount depends on the particular one chosen. Payment gateway charges include a setup cost and maintenance fees usually paid annually. The number of transactions that take place on the site every month also impacts this figure. Processing fees for transactions are calculated either as a percentage of the transaction value or as a flat fee for every transaction regardless of the transaction value.

For a payment gateway like PayUmoney, there are no payment gateway charges. Setup is free and there is no maintenance fee. Merchants can conduct business without worrying about high charges on every sale they make. This burden is shouldered by the customer.

Jul 11, 2017 | Gateway Computers & Internet

1 Answer

Which payment gateway is best for small merchants?


Small merchants require an online payment gateway in India so they can offer their customers a working payment option when buying products online. Payments for events may need a ticketing solution so as to facilitate buying of the tickets. The platform could even group the tickets in terms of VIP or standard as well as offering tickets in bundles, such as buying for a friend, to encourage consumers to buy more tickets.

Among the available payment gateways is PayUmoney. It is free to set up and carries no maintenance charges. This online payment gateway allows customer to pay via net banking, credit cards or debit cards. With PCI-DSS Level 1 and 128 bit SSL encryption, security is guaranteed for all payment transactions as well as customer data. It can come with full integration or a button but it remains seamless regardless of the option used.

Other options exist but PayUmoney offers a good deal for an online payment gateway in India.

Jul 07, 2017 | Gateway Computers & Internet

2 Answers

What is the Low Cost Payment Gateway?


Every online business needs to integrate a payment gateway for its customers to pay for goods at check-out. Many will look for the cheapest payment gateway but how cheap it is will be determined in several ways and not just the initial cost.

The cheapest payment gateway is one that is easy to integrate on several platforms including PC, smart phones and tablets. This reduces the occurrence of abandoned shopping carts thus increasing customer loyalty and therefore profits.

It should provide customers with options to pay using different methods such as credit card, debit card and net banking. Transactions should be easy to pay for and the payment gateway secure. That way, customers will enjoy using the payment gateway, and the business will profit as well.

One may also want to look out for a payment gateway that will not charge too much in subscription fees. Some may even be free and this cuts costs for the business.

May 24, 2017 | The 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 does one start a payment gateway?


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.

May 12, 2017 | Computers & Internet

1 Answer

Which Indian and non-Indian payment gateway should I choose for my online store?


There are quite a few Indian and non-Indian payment gateways available that make online payment management easier and faster. The gateway verifies a customer's billing information, examines funds available with a customer, approves a payment request, and then gets you paid. Much improvement has taken place in this sector. There was a time when the store owners need to apply for a merchant account, which was a dedicated bank account that accepted receipt of credit card payments directly. Without this dedicated account, there was no scope to open any account with a payment gateway service. Now, this problem is there no more as the best Indian payment gateway like PayUMoney allow to open account linking your existing bank account.

So, just look at the feature of the most popular and widely used Indian and non-Indian payment gateways, if it meets your need, then just go for them.

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 are the best payment gateways for service platforms?


If you’re about to start selling your products or services online, you will have to establish a payment procedure to accept payments from your customers. The right Payment Gateway is crucial in determining whether your client will complete the purchase or not.
So, here are the three questions you must ask yourself before deciding on the payment gateway for your online business.
1. Is it secure?
Remember that, you trust the gateway with both your customers and your card details. It must use the latest encryption and token technology and also must be PCI compliant, to prevent hackers.
2. Does it provide 24 X 7 support?
Don’t risk losing out on your business due to technical glitches. The service provider must have a 24 X 7 hotline, where you can call to get your queries resolved as soon as it occurs.
3. Is it easy to Use?
The gateway you choose must have a great UI and offer the best UX if it is to be accepted by your customers. No complicated signing up processes.
A stellar payment gateway, like PayUmoney, will not only be your trusted partner but can also help you boost your sales and earn customer loyalty.

Apr 12, 2017 | Best Computers & Internet

2 Answers

What is the best way for an Indian startup to accept online payments?


A very quick and safe method is PayPal, and I believe it is free for low volume use.
Setting up a bank account to accept credit card payments is also possible but there will be some expense involved.

Mar 11, 2017 | Best 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

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