Web Site Payment Integration
Payment Gateway is a secure ecommerce system, which authorizes payment, and all related transactions that take place in ecommerce websites , which have them integrated. Payment gateways are said to be highly secure as they encrypt highly sensitive details like credit card information and other bank related details which are normally feared of being misused when found available online. This third party processing system actually acts as a mediator between the shopper and the merchant and verifies, accepts and debits during every transaction. They are also called as IP Payment Gateways while referring to their use for internet transactions.
The payment gateway facilitates transfer of information between the web portal and the bank after the customer enters his / her credit card details. The process is lengthy, but it takes place so quickly that the customer never notices it. The process starts with the customer placing his / her credit card with the merchant who has payment gateway enabled in his / her website. The credit card and other details that are provided by the customer are encrypted by the customer's web browser and sent across to the merchant's server via SSL or Secure Socket Layer encryption. The details received are then forwarded by the merchant to the payment gateway where the merchant has his / her account registered. The details are, in turn, forwarded to the merchant's acquiring bank by the payment gateway from where the details are forwarded to the issuing bank which is nothing but the customer's bank. The issuing bank then releases its approval or decline based on various factors that pertain to the customer's account. The response is then forwarded all the way back to the payment gateway, then to the merchant and reaches the customer.
The above mentioned is the transaction process that takes place in the payment gateway which appears to be quite a long process, whereas in reality, it just takes 3-4 seconds to complete the whole transaction process. All the funds that are transacted and approved for the day are credited in the merchant's account by the end of the day. This amount can either be credited in the merchant's account in the acquiring bank or can even be forwarded to any other account as per the merchant's wish.
With changing trends and growing competition, it is essential to have a sophisticated buildup for our websites in order to compete with our competitors. Integration of payment gateway not only improves the standard of any website but also enables the inclusion of any new feature or to make any change to the business model that demands online transaction of money which would otherwise be impossible without a payment gateway. Payment gateway can be integrated to the website anytime but should be done efficiently as it deals with transaction of funds and other confidential information. We, at XEL Web Design , take utmost care in working with payment gateways and strive to take your website and business to the next level.
