Why Do You Need A Payment Gateway For Website?
1. Secured & Protected Payments as payment gateways are highly secured and
encrypted from fraudulent activities or online theft.
2. 24/7 Store for your customers to purchase anytime and anywhere.
3. Shopping cart convenience for better shopping and complete checkout experience.
4. Tracking abilities to track all your transactions (past and present) all at one place.
5. Multiple modes of transactions for your customers to make an online purchase on
your website/app.
6. Multiple Device friendly
7. Faster transaction processing for your customers to make a purchase immediately.
8. Integrated payments & settlements
Step-by-step process of how a online payment gateway works:
A buyer makes a purchase of an item and enters card number
Details of the purchase are sent to payment gateway for processing
The payment gateway then forwards the information of transaction to the merchant’s
bank
Merchant’s bank again forwards information to buyer’s bank to authorize the
transaction
Then the buyer’s bank either approves or denies the information and sends back to
merchant’s bank
If approved, the bank will deposit the amount in merchant’s account in specific period
to time
The transaction details and buyer’s details are then saved in merchant’s server and
payment gateway’s server
What Is a Payment Gateway?
payment gateway could be seen as a simple software application. It’s essentially a
conduit or channel between the bank authorizing (or declining) a customer’s credit
card payment and an ecommerce store. Credit cards, debit cards and eCheck, as
well as cryptocurrencies for instance bitcoin, can all be processed via online
payment gateways.
A payment gateway is the last step of a sales process on an ecommerce store. In the
absence of a payment gateway process, you won’t be in a position to securely
charge your customers whenever they buy items from your online store.
HOW DOES A PAYMENT GATEWAY
PROCESS WORK?
The payment gateway process kicks off when a customer
orders a product from a payment gateway-enabled
merchant. The payment gateway performs a variety of
tasks to process the transaction.
1. A Customer Places An Order
Either by clicking ‘Buy’ or an equivalent option or by
entering the card details on the merchant website or
application.
2. Encryption of Information and Forwarding to Merchant’s
Site
If the order is via a website, the customer’s web browser
encrypts the information to be sent to the merchant’s web
server. And in other cases, this is done via the Secure
Socket Layer (SSL).
3. Forwarding Information from Merchant’s Site to the
Payment Gateway
This is an SSL encrypted connection from the merchant’s
server site to the payment server hosted by the payment
gateway.
4. Payment Gateway sends transaction information to the
Payment Processorused by the Merchant’s Acquiring Bank
5. Payment Processor forwards transaction Information to
the Card Association
The card association also acts like the issuing bank and
directly provides a response of approval or declination to
the payment gateway.
6. The Card Association receives the authorization
request, verifies the request and sends a response back to
the processor.
It conveys the success or failure of the request as well as
the reason.
7. Payment Processor forwards this information to the
Payment Gateway.
8. Payment Gateway forwards it to the Merchant Website.
This process is known as Authorization and it takes about
2-3 seconds, altogether. The merchant then fulfills the
order and the above process can be repeated.
9. At the end of the day, the payment gateway performs a
process known as Settling.
During which it groups all your transactions together and
sends them off to the Merchant’s Acquiring Bank in a
single batch via the Processor for Settlement.
10. Payment gateways also record your transactions and
allow you to view them using the payment gateway report
facilities. This completes a single payment gateway
process.
Let’s look into list of Payment Gateways in India
CCAvenue
EBS Payment Gateway
Citrus Pay
DirecPay
Atom Payment Gateway
Zaakpay Payment Gateway
PayUmoney
HDFC Payment Gateway Services
ICICI Payseal
PayUbiz
Whizpay
Razorpay
First, let us specify the respective payment gateways that you want to know -
1. Snapdeal - PayU India
2. Jabong - PayU India
3. Freecharge - CCAvenue
4. Amazon - Pay with Amazon (it’s own payment gateway)
Based on our experience in this industry (Payment), we can say that there are 4 major payment
gateways which have tapped into the market of e-commerce -
1. Payzippy - Flipkart’s own payment gateway.
2. PayU India - Used by Jabong, Snapdeal and Zepo.
3. CCAvenue - 85% of Indian e-commerce merchant avail this service.
4. Citrus Pay - Organisations like Meru, Zivame, Airtel etc use this solution.
Our Clients
CCAvenue is South Asia's biggest and the most popular payment gateway solution,
which is currently processing e-commerce transactions of thousands of eMerchants. A
partial list of eMerchants using the CCAvenue Payment Gateway solution is displayed
below:-
Travel
Make My Trip
Yatra Online Pvt. Ltd.
AirAsia
Go Air
Shopping
Xerion Retail Pvt Ltd.
Myntra Designs Pvt. Ltd.
Clues Network PVT. LTD.
Jasper Infotech Pvt. Ltd.
Education
All India Council for Technical Education
Delhi Public School
Sikkim Manipal University
Symbiosis
Government
Government of Maharashtra
Government of Madhya Pradesh
Union Ministry of IT
Government Of Assam
Political Parties / NGO
Bharatiya Janata Party
Aam Aadmi Party
Peta India
Shree Siddhivinayak Ganapati Temple Trust
