BENEFITS OF PAYMENT GATEWAY FOR E-COMMERCE BUSINESS

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The e-commerce industry is growing rapidly. With the goal of providing customers a convenient and secure platform, seamless transactions and delivery to their doorstep, e-commerce platform requires an efficient payment gateway which will increase customer loyalty and in turn sales and profit.

POS being the popular mode of payment collection, the main difference from the POS terminal is: in case of a payment gateway, the shopper may be sitting in a different city, state or a country altogether. Because of the distance and anonymity of the shopper, a payment gateway requires special encryption and verification technology. The E-commerce platform has it’s own shopping platform space online,  these platforms are convenient for shoppers with several benefits attached, such as:

  • Wide range of variety to choose from, since there is no space constraint online
  • Quick checkout
  • Easy navigation across the platform
  • Accessible from any corner of the world
  • Instantaneous cash-less payment

But for customers to have a seamless shopping experience, having an easy-to-navigate APIs (applications) are not enough. An e-commerce platform requires an efficient payment gateway to add to the safety of payments, leading to customer loyalty and increased profits.

Benefits of payment gateway

Getting a digital platform to accept the payments online can ultimately improve the overall performance of your business. Here are the benefits of implementing a payment gateway:

  1. Easy Checkout: The swift and seamless checkout experience is a must from a customer’s point of view. Payment gateway enables these features and makes online shopping as easy as possible. 
  2. Impulse purchase: It is observed that more than 40% of customers cancel their purchase if the checkout/payment method is tedious or complex. But, according to a study, it is observed that impulse purchase is responsible for 40% of all online purchases, so being provided with an easy payment option will undoubtedly make an increase in sales.
  3. Payment gateways also
    – Integrates with shopping cart
    – Provides faster payment processing
    – Accepts multiple payment options
    – Provides charge back prevention
    – Provides fraud management
    – Provides recurring billing
  4. Security: Payment Gateways are often compliant with security standards like PCI DSS, etc. providing secure transactions

Payment Gateway as an important factor for Security of Payments

Since a payment gateway is such a crucial part of an e-commerce platform, it is imperative to understand it from the security aspect. Security, being the top-most benefit of a payment gateway, aids in lessening the intensity and frequency of credit card fraud within the e-commerce platform.

A payment gateway, as mentioned earlier, authenticates the cardholder/shopper so as to make a safe flow of payment from his/her account to the merchant/e-commerce platform’s account. This entire flow of payment is secured with the help of a payment gateway.

A payment gateway maintains security by following a protocol for the same and thus, data of the customer is encrypted in a safe manner.

There are some definite reasons, which make a payment gateway apt for the e-commerce platform:

  • Integrating a payment gateway does not require much hassle and can be set up easily by the merchant/e-commerce business that already has a website/application for the business
  • It requires slight maintenance, and thus, is extremely cost-effective.
  • Because of the popularity of a payment gateway, majority of the people are familiar and comfortable with its concepts. This makes it easier for the online business since there is no requirement of knowledge for the same.
  • A payment gateway helps in quick checkout with the customizable checkout page. A merchant thus can customize the checkout page in accordance with the demands.

Choosing a payment gateway for your business can be a really crucial task. The payment gateway needs to be reliable and should meet your business needs now and in the future. Many factors come into play while choosing a suitable payment gateway.

What can JNT offer you?

JNT Consultancy & Services offers you a modern, fast, highly secure payment gateway solution: PayPal Pro. With many benefits of PayPal Pro, we are confident to provide you the best payment solution for your E-Commerce sites.

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