Payment Gateway Integration

Payment Gateway Integration 

Payment Gateway is a service that automates the payment transaction between the customer and merchant. It is usually a third-party service that process, verify, and accept or decline credit card, debit card and Net banking transactions on behalf of the merchant through secure Internet connections.You can either integrate with bank or use a payment gateway aggregator like PayU. Aggregators (PSP) are better because they provide easy integration, all range of payment options and support at every step.Payment gateway fulfill a vital role in the eCommerce transaction process.

PSP Integration usually involves calling an API with required parameters such as card details, amount, order id etc. PSP sends the transaction to the payment gateway which further sends it to Issuer. The customer enters the second factor authentication and then the transaction is authenticated. Second factor authentication is mandatory in India as per central bank's guidelines.Payment gateways fulfill a vital role in the eCommerce transaction process, authorizing the payment between merchant and customer.When a customer places an order from an online store, the payment gateway performs several tasks to finalize tra nsation:

• Encryption: The web browser encrypts the data to be sent between it and the merchant's web server. The Payment Gateway then sends the transaction data to the payment processor.
• Authorization Request: The payment processor sends the transaction data to a card association. The card's issuing bank views the authorization request and “approves” or “denies.”
• Confirming the Order: The processor then forwards an authorization to the payment gateway. Once the gateway obtains this response, it transmits it. The interpreted and an appropriate response is generated. This process typically takes only a few seconds at most. At this point, the merchant confirms the order.

Payment Gateway Charges

A Payment gateway will allow you to charge your customer’s credit/debit card with the purchase he/she makes online. The payment gateway acts as a mediator between the transactions that take place on your website and the payment processor. This is needed because it is prohibited, due to security reasons, to transmit transaction information directly from your website to a payment processor. Payment gateway is an application on an e-commerce website that allows the website to link the client payment account with the website’s account. Payment gateways Integration allows for the credit account details to be secure instead being sent online. Payment gateway charge you the following 3 prices:

• Setup fees
• Annual Maintenance Charges
• TDRs. 

If you have a Website to exhibit your items and administrations and your client will go to Desktop Website to make the installment (Payment Gateway Integration), you are losing business to your rivals. You require Payment Gateway Integration benefits in your Mobile Application to permit the client make the installment without moving to whatever other stage.Installment Gateway APIs enables you to prepare the exchanges through your Mobile Apps to acknowledge orders from your clients. Installment door reconciliation with the Shopping truck gives compelling promoting procedure to your business. While your item and the UI of the Mobile Application lures the client to purchase your administrations, the office to make the installment in a flash finishes the deal.

Top 8 Payment Gateway

1.InstaMojo Payment Gateway.

2.CCAvenue Payment Gateway.

3.HDFC Payment Gateway.

4.EBS Payment Gateway.

5.Atom Payment Gateway service.

6.DirecPay Payment Gateway Service.

7.PayU Payment Gateway from PayUMoney.

8.PayUbiz Payment Gateway Service.

How a payment gateway works?

A payment gateway focuses on securing the information given by the user throughout the process. It ensures security by encrypting data like card and bank details that have been provided by the user.The basic step of how a payement gateway works:

 1: A customer places his/her order and then press the Submit on the website

 2: Then the website or the e-commerce platform takes the customer to a payment gateway where he/she enters all the relevant information about the bank or the card they are using to pay. The Payment Gateway then takes the user directly to the page of the issuing bank and asking for the transaction to be authorised.

3: Once the payment gateway gets the approval for the transaction, the bank then checks whether the customer has sufficient balance in the account to make this transaction a success/not

4: The payment gateway sends a message to the merchant accordingly. If the reply from the bank is a “No’”, then the merchant sends an error message to the customer, telling them about the issue with the card or the bank account. If the response is a “Yes” from the bank, then the merchant seeks the transaction from the bank

 5: The bank settles the money with the payment gateway, which in turn settles the money with the merchant

Once this process is completed, the customer gets a confirmation message of the order being placed.

How a payment gateway keeps information secure?

A payment gateway ensures the security of the information and keep it safe.First things is that ,the entire transaction is carried out through an HTTPS web address. This is different from the HTTP as the S in the HTTPS stands for Secure. The transaction takes place through this same tunnel .As a result of the hash function, the system often uses a signed request from the merchant to validate the request of the transaction. This signed request is a secret word, which only the merchant and the payment gateway know.To secure the payment page result of the process, the IP of the requesting server is verified to detect any malicious activity.Virtual Payer Authentication (VPA) is something that the acquirers, issuers and the payment gateways are backing to secure the process even more. VPA, implemented under the 3-D secure protocol, adds an additional layer of security and helps the online buyers and sellers to authenticate each other easily.