A payment gateway in websites is an important feature considering rising on the go smartphone or online transactions. If you have a website that is now and then asked to facilitate payments through so called payment gateway integration or if you are seeking the same this article deserves you-
What is payment gateway integration? - With rising numbers of websites mainly those that facilitate online payments such integration is an inevitable phenomenon. In simple words, it is a cashless payment facilitation done on the go or from a place of your convenience. All you need is a system with the Internet.
What is the need? - In FY 2015, cashless transactions through mobile banking amounted to Rs. 1 lakh crores. It’s the fastest growing payment option. It is expected as only 1 million customers are transacting using mobile. Similarly, transactions through desktops are also huge. With that many virtual banking exchanges, Online business owners view web-based banking as a strategic imperative.
What should I do to get it integrated?
These days it is a cup of tea for web developers and the first person you can contact for it is your web design company only. We at TBI Technologies have created many gateways on the websites of our existing customers. These customers are now happy to be receiving and making payments just through few clicks. There are two ways to get a payment gateway in your website. If you are a registered business owner your website host can help you with the banking formalities and create this application on your behalf in your web page or you can go to the bank to fill up the primary credentials and later ask the web host to integrate the same in your website.
What do you want? Outside Payment system or a system of your own -
Now there are two more things that you need to know in the same context- 1) Whether you want an outside online payments system that supports online money transfers i.e. Paypal, Google or so or 2) You want your own system to be built. In case if you hire an outside agent to facilitate transactions there may be or may not be some fee in the beginning.
For instance, outside payment gateways charge for doing sign-up and levy a certain amount of fee associated with every transaction that you make that may eat up a little of your profit. With your own payment gateway, you save on these fees and cost.
In addition with outside payment gateways you are restricted by their limitations such as not accepting recurring payments and/or multi-currency transactions. Some payment gateways charge additional fees for such add-on features. With your own payment gateway, you can customize and add new features depending on your business needs and requirements.
On the other hand you can offer Payment Gateway Product to Other Merchants – You can offer and sell your payment gateway as a product to other merchants, ISOs, and Agents.
Hopefully! Now you know the importance of website development with payment gateway. It is not just necessary it is mandatory in today’s context. To get one integrated into your website or for more related information you can call us or visit the link below.