Ecommerce has transformed the process of buying and selling goods easy. With the emergence of technology and rapid growth, payment gateway e-commerce services 2019 is changing the landscape of the business to business (B2B) and business to consumer (B2C) commerce.
Payment Gateway is playing a vital role in e-commerce and making it more convenient and reliable for people.
Contents
What is the Payment Gateway?
A payment gateway is a service that is provided by an e-commerce application service provider. The payment service provider authorizes the payment and makes the transition seamless.
Payment gateway enables instant cash, credibility for merchants, and offers top-notch security.
It’s a multifunctional system that grants the ability to make immediate payment and gives convenience to the user.
The widespread adoption of this technology clearly shows how much people rely on this service. The payment gateway for website helps clients to boost the sale and generate more significant revenue.
Also Read: Top-5 tech trends we may see in the future of e-commerce
How Does Payment Gateway Work?
To process and authorize the transaction payment gateway plays a vital role in e-commerce. Here we have listed all the steps to make it easy for you to understand it.
- Place the order and click on the checkout
- Merchant automatically transfers order information to payment gateway
- Choose the preferred payment method
- The transaction will route to the transaction authentication page
- Authenticate the transaction by providing 3D secure code or OTP
- Payment gateway will send the message to the merchant
- Bank transfers the amount to the payment gateway, and then payment gateway transfers the money to the merchant
Best Payment Gateways for E-Commerce Services 2019
1. PayPal:
Paypal holding Inc. is a multilingual American company operating the global online payment system.
It was first established in 1998 as “Confinity” and has replaced the traditional way of transferring money while supporting online money transfer.
Six persons founded it and now has a user base of 286 million users as of 2019. It has multiple divisions with revenue of $15.451 Billion as of 2018. It offers the utmost security with a faster and safer way to spend money.
2. Stripe:
Stripe is a San Francisco, California based American technology company. It was founded in 2009 and very soon became one of the popular payment gateway companies. It doesn’t charge any monthly fee.
However, it requires more web development skills to implement. It accepts payment around the world, though its site is available for merchants US, Canada, Australia, UK, and many European countries.
3. 2Checkout:
Accept online payments for your e-commerce website using 2Checkout payment gateway. It was founded in 2008 and has captured the attention of the global market.
Its modular design helps you deliver outstanding user-experience and expend your global reach with world-class partners.
It offers the highest level of security which is PCI Level 1 and keeps the merchant’s data safe and secure.
4. EBS Payment Gateway:
E-billing Solutions Pvt Ltd (EBS) is a popular payment gateway. It was established in the year 2005.
It helps merchants to collect payment from the end-user using multiple payment options like net banking, credit, and debit card payment while facilitating the online purchase.
EBS merchant payment interface comes with integrated google analytics tools, better optimization, and advanced security.
Also Read: How to Build An E-commerce Brand In A Highly Competitive World?
5. FonePaisa:
FonePaisa payment gateway is a popular network, less payment service providers. It makes the transfer of funds secure with the Fonepaisa mobile wallet even if there is no network on your mobile phone.
Integrate this payment gateway into your e-commerce website for fast, and convenient payment experience at checkout.
It serves well to all the big or small business while offering top-notch features with 24/7 support and utmost security.
6. CCAvenue:
CCAvenue is one of the top-rated authorized payment gateway service providers by Indian FInancial institutions.
It empowers e-commerce websites and makes selling and buying of products comfortable with real-time payments.
It offers maximum payment options with CCAvenue checkout and multicurrency processing.
Not just that it also consists of an innovative and enhanced marketing tool with advanced dynamic routing with better profitability and the highest success rate.
7. PayTM:
PayTM is one of the most popular e-commerce payment systems with an advance digital wallet. It was founded in 2010 by Vijay Shekhar Sharma.
PayTM collects online payment for free on your app or website with an integrated payment gateway and offers an exceptional customer experience.
In 2018 PayTM revenue was $480 million, and it is expected to grow this year at an outstanding rate. There is no transition charge or maintenance fee for the merchants
Conclusion Thoughts
The payment gateway is the ultimate payment solution for e-commerce services. Get a custom payment gateway for advance solutions and better customer experience. All the merchants around the world use these payment gateways.
If you are running a successful business and want to integrate payment gateway, these are some of the best 2019 payment gateways. They offer fast, reliable, and secure payment transactions without taking much time.
