How A Payment Gateway Work

Not everyone has the technology or budget to handle customer payments through a merchant bank account.

Paying a small fee to a secure payment gateway will handle all your transactions on your behalf 24x7 from your website. The inability to process payments defeats the entire purpose of an e-commerce site.

Payment gateway providers can help you handle and process payments easily. This is where payment gateway providers can help you make handling and processing payments an easy process.

What is a Payment Gateway?

A Payment Gateway is a service that allows you to accept credit card payments on your website.

A payment gateway is an intermediate system that connects the merchant’s website to the credit card and banking networks. The payment gateway is in charge of making sure that money is sent safely between the customer and the merchant.

The most common type of payment gateway is an e-commerce gateway, which is used by merchants to sell goods or services online.

Payment Gateways make it possible for businesses to accept payments from customers, who may be located anywhere in the world, securely and conveniently.

How to Process Different Types of Payments with a Payment Gateway

Payment gateways are an essential part of any payment system. They are the link between your business and the customer.
There are two main types of payments: card-based and cashless transactions. Card-based transactions require a credit or debit card, while cashless transactions do not require a card or any other form of payment, but instead use some form of electronic payment such as mobile wallets or contactless cards.

There are many different types of payment gateways available on the market with different features for specific needs. The most common ones include Paygate, MoneyMatrix, Yoco, PayFast, Netcash, Peach Payments, SnapScan, PayU, SiD Payment, Pay Genius. Read more South African payment processors

These gateways offer a wide range of features that can be tailored to your business needs, such as fraud prevention and international reachability, to name just a few.
Conclusion payment gateways and how they work. Payment gateways are a way for websites to process payments from their customers. They are used by both small and large companies to accept credit card payments, PayPal, Bitcoin, and other methods of digital payment.

Blockchain Payment Gateways

What benefits may using cryptocurrencies offer?

These advantages include ease of use, affordable costs, security, privacy, and more control.

In contrast to conventional currencies, cryptocurrencies enable consumer transactions devoid of the involvement of a middleman like a bank or credit union. Read more Cryptocurrency Payment Gateways

How does a payment gateway process transactions from a shopping cart?

1. An online customer adds products to a shopping cart.
2. When they finished shopping, they clicked on "check out" and entered their billing information.
3. The customer is transferred to a secure payment gateway. You don't need an SSL certificate as the payment gateway does the secure transaction.
4. The payment gateway then transmits to the processor.
5. The processor transfers the information to the bank that issued the credit card or EFT.
6. Then verify the card and check to make sure that the requested amount is available on the card or EFT.
7. The process takes 2-4 seconds from the time that the customer enters their information and, on approval, is sent back to the e-commerce website where the customer's order page details are displayed.
9. The payment gateway transmits the approval code back to your website where the customer made the purchase.
10. The payment gateway emails the customer a payment receipt and the website emails you, the website owner.

What You Need to Know About the Online Shopping Market Based on eCommerce Statistics:
The majority of online shoppers were women aged between 18 and 39.
The majority of South Africans spend between R250 and R1000 when making a purchase online. 33% of those polled made 10 or more online purchases per year; and 28% of shoppers make online purchases using their mobile phones.

How secure are payments on the payment gateway platform?

All transactions are handled through the gateway and processed by their secure systems, which allow your customers to enter their credit card/debit cart or EFT payments on a secure network.

Payment processes are encrypted so that your customers are assured their information is safe. Payment processes are very quick, and transactions can be completed in seconds. If there are any problems with payments, there is support staff that can answer your questions so that you can keep your business open and earning money.

Your payments made to your account can be transferred into your bank account, or some providers issue a free debit card where your money is paid into.

Most payment gateways don't charge a fee to signup, and most payment gateways do have an easy online signup that can be completed in minutes.

The busiest time for online stores was after the 25th of each month.
The average shopping basket size in South Africa is around R725 per order, and
70% of all online transactions were paid for with a credit or debit card.
Read more about frequently-asked-questions
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