International Payment Gateway Solutions: Enhancing Global Transactions.
In today’s fast-paced digital world, businesses, whether they are traditional brick-and-mortar stores or multinational corporations, are increasingly relying on credit card processing solutions. At the core of these solutions lies the payment gateway (PG), a well-known product that enables credit card transactions securely. From small local shops to large international enterprises, every business requires efficient and reliable payment gateway solutions to facilitate credit and debit card transactions effectively. Financial institutions and Payment Service Providers (PSPs) play a vital role in offering Payment Gateways to merchants across various industries, including those classified as Low, Mid, and High Risk.
International Payment Gateways provide a wide array of benefits that empower merchants to boost their sales and streamline financial processes. One of the key advantages is the ability to accept credit and debit card transactions, which not only improves customer convenience but also enhances sales opportunities. This merchant service product acts as a bridge between the merchant’s website and the acquiring bank or PSP, ensuring smooth and secure online transactions.
The role of payment gateways goes beyond convenience and efficiency; it also offers significant cost and time savings for businesses. Merchants no longer need to handle physical cash or make daily trips to the bank for deposits. Instead, the PSP transfers the funds directly to the merchant’s business bank account, as agreed upon in the merchant agreement between the two parties.
When it comes to online payment gateway solutions, the PSP hosts the payment gateway on secure servers, allowing merchants to integrate it into their sales websites through API functionality. To ensure robust data security, payment service providers often require merchants to obtain a PCI DSS certification. Acquiring banks and PSPs are considered the safest solutions due to their large teams of technology and data security experts, effectively safeguarding credit card information and customer data.
Payment Gateway Modes:
Online Payment Gateway (Card Not Present – CNP): The most common mode of payment gateway integration on a merchant’s website, either through APIs or HTML coding, allowing for seamless transactions without the physical presence of the card.
IVR Payment Gateway (Card Not Present – CNP): In this mode, customers input their card details through touch-tone phones on the phone line, with the payment gateway company recognizing the DTMF tones. Although not as prevalent, companies with a strong processing history may opt for this mode.
Point of Sales (POS): Utilizing small devices found in stores, customers physically hand over their cards to merchants, who then swipe or insert the cards into the POS terminal. Some acquirers and card types may not require a PIN for authentication.
Virtual Terminals or Moto (Mail Order/Telephone Order – Card Not Present): This mode involves the cardholder revealing their card information to the merchant, who manually enters it into a virtual terminal or Moto Terminal. It is also known as Mail Order/Telephone Order, although it is less common in modern transactions.
Benefits of Our Payment Gateway Solution:
Acceptance of Well-Known Card Brands: Our payment gateway solution allows merchants to accept credit and debit cards from renowned card brands, bolstering customer trust and satisfaction.
Easy Payment Options: We offer a user-friendly payment gateway that enables merchants to provide their customers with multiple easy payment options, including UPI payments and popular e-wallets.
Seamless Transactions: Merchants can accept payments over various channels, including their website, online invoices, and emails, ensuring a smooth and convenient payment experience for buyers.
Fraud Prevention and Risk Reduction: Our advanced fraud detection tools significantly reduce the risk of fraud and disputes, protecting merchants’ businesses and enhancing customer trust.
Recurring Payment Capabilities: Merchants can accept both one-time and recurring payments from buyers, facilitating subscription-based services and creating a steady revenue stream.
Real-Time Credit Card Transactions: With our secure online payment gateway, merchants can process real-time credit card transactions, allowing for quick payment confirmations and efficient service delivery.
International Payment Gateways Features:
Multicurrency Processing: Most international payment gateways enable merchants to offer prices in the local currency, fostering trust and encouraging more sales from international customers. For instance, a customer in the USA would prefer paying in USD rather than in CNY.
Advanced Fraud Scrubbing and Prevention: International payment gateways deploy various sophisticated fraud scrubbing tools to detect and prevent fraudulent transactions, ensuring a secure payment environment for merchants and customers alike.
Settlement in Local Currency: To cater to merchants from various countries, some payment gateways offer settlement in multiple currencies, allowing merchants to receive funds in their local currency.
Multiple Payment Modes: Global payment processing should not be limited to major card brands; it should also include acceptance of local alternative payment methods. Our international credit card payment processor accepts a wide range of local cards, and we can provide merchants with a list of accepted local card brands before finalizing the merchant account agreement. Additionally, we also offer ACH and Echeck payment modes for added convenience.
User-Friendly Interface: Our payment gateway solution boasts an intuitive and easy-to-use merchant panel or admin control panel, ensuring a seamless experience for merchants.
Secure Payments: We prioritize transaction security and ensure full compliance with the PCI DSS standards. Additionally, our secure payment gateway ensures merchants’ websites are always on HTTPS protocol, providing a high level of encryption over the internet.
Pre-Authorization: By offering pre-authorization capabilities, merchants can reduce the likelihood of fraud and returns. This feature allows merchants to capture funds only after a specific time frame, typically once the product or service is delivered.
Chargeback Prevention: Our payment gateway can work in collaboration with chargeback alerts and notification service companies to minimize chargebacks and fraudulent transactions, protecting merchants’ accounts.
Easy API Integration: Integration is a critical aspect of payment gateway solutions. We provide easy-to-install APIs with sandbox information, enabling smooth integration into merchants’ sales websites.
Comprehensive Support: We understand the importance of reliable support for our merchants. Our customer support team is available 24/7 through multiple channels, including toll-free numbers, paid numbers, email, chat, and online helpdesk, ensuring prompt and effective assistance.
Understanding Credit and Debit Card Transactions on an Online Payment Gateway:
- Customer visits the SSL-enabled Merchant’s website.
- The customer selects products and services and adds them to the shopping cart.
- After finalizing the selection, the customer proceeds to the checkout page.
- On the checkout page, the customer provides Billing, Shipping, and Card details. In cases where Address Verification System (AVS) is active on the payment gateway, the address and zip code must match the billing statement of the cardholder. AVS serves as a fraud filtering tool used by PSPs and Merchant Account acquirers.
- If the Payment Gateway is 3DS (3D Secure), the customer may be prompted to enter a one-time password or PIN for an additional layer of authentication.
- Often, steps 4 and 5 occur on a payment page hosted by the PSP.
- The payment gateway converts the XML transaction information to ISO 8583 format and sends the encrypted value to the merchant’s acquiring bank.
- Most card brands, except a few, allow the card issuer banks to provide the final response to the transaction. Typically, the response will either be approved or declined. Occasionally, merchants may receive other responses from the card issuer or card brands, such as “Pick Up” response for POS transactions. Declined transactions may also occur if the merchant’s credit card account is maxed out.
- If the card issuer or card brand approves the transaction, a response code “Approved” is sent to the Payment Gateway, confirming the approval.
- The transaction information is then forwarded to the merchant. Merchants may receive SMS or email notifications from the payment gateway after each transaction, providing essential information and descriptors that can help in reducing fraud and chargebacks.
- Depending on the approval or decline of the transaction, the buyer is redirected to specific pages, such as a Thank You Page for successful transactions or a Sorry Page for declined ones.
- After the transaction approval, the merchant can proceed with product or service delivery. Many online payment gateway providers offer Pre-Authorization facilities, allowing merchants to capture funds after a specified time frame, effectively preventing fraud and chargebacks. Merchants should only capture transactions once the product or service is delivered.
- The merchant receives payment from the acquirer as per the terms specified in the acquiring agreement. High-risk merchant accounts may have longer payout periods, and payment gateway companies may require a rolling reserve per transaction. In contrast, low-risk merchants typically receive payments as per a T+1 or T+2 cycle, where T represents the transaction date.
- Once the product or service is received by the buyer, the merchant should collect proof of delivery, such as a signed Proof of Delivery for tangible products or a confirmation email or DocuSign agreement for services. Keeping delivery proofs is essential for defending against chargebacks. Merchants may also use chargeback alerts and notification services to reduce refunds and fraud.
Payment Gateway for Merchants and Businesses:
We take pride in assisting business owners in obtaining credit card processing solutions that cater to various industries. Our payment gateway enables merchants to accept credit and debit cards over the phone, web, and in-store, ensuring a comprehensive payment solution that meets their needs. Before applying for a Merchant Account or Payment Gateway, we encourage merchants to review the providers’ reputations, especially if they operate high-risk accounts. We are proud to say that our processing partners have received positive reviews online, showcasing our commitment to providing reliable and efficient payment gateway solutions.
Payment Gateway FAQ:
Q. How to Choose a Payment Gateway?
Choosing the right payment gateway for your eCommerce platform is crucial to the success of your business. Reliability and speed are key factors to consider, ensuring seamless transactions and customer satisfaction. Evaluate the integration process, PCI DSS compliance, pricing, transaction security, support for alternative payment modes, uptime ratio, setup time frame, and the presence of hidden charges or fees before finalizing a payment gateway provider.
Q. Is the Payment Gateway Fast and Easy to Integrate?
Most payment gateway solutions available today offer simple and straightforward integration. However, some platforms may be more challenging, depending on your technical skills and requirements. Before committing to a merchant agreement, verify the integration process and ensure it aligns with your technical capabilities.
Q. Is the Payment Gateway PCI DSS Compliant?
PCI DSS (Payment Card Industry Data Security Standard) compliance is essential for the security of card information. Ensure that the payment gateway provider and merchant account acquirer possess a valid PCI DSS certification, which you can verify on their respective websites.
Q. How Affordable is the Payment Gateway?
The cost of a payment gateway solution includes transaction rates and monthly charges, outlined in the merchant agreement. Conduct a price comparison to find the most competitive and cost-effective option before finalizing your choice.
Q. How Secure is the Payment Processing Platform?
Research the fraud detection and defense mechanisms employed by the payment gateway provider. Look for reviews and feedback from other merchants to gauge the platform’s security and reliability.
Q. Can You Add Alternative Payment Modes to the Gateway?
A robust payment gateway should support various alternative payment modes, such as e-wallets and local payment methods. These options maximize profits and reduce risk by accommodating customers’ preferences and diverse payment methods.
Q. What is the Uptime Ratio of the Payment Portal?
A reliable payment gateway should have excellent server uptime to ensure smooth and uninterrupted online transactions, especially during critical periods such as Black Friday or other high-demand occasions.
Q. What is the Setup Time Frame?
Time is of the essence, and a prompt setup of the payment gateway is crucial for businesses. Opt for service providers that offer fast and efficient setup processes.
Q. How Active is the Billing and Technical Support Team?
24/7 customer support for technical and billing issues is vital for any payment gateway provider. Ensure that the company you choose offers reliable and responsive customer support across various communication channels.
Q. Are There Any Hidden Charges or Fees?
Merchant account agreements can be lengthy and legally binding, so read all the terms and clauses carefully to avoid any surprises or hidden charges. Transparency is essential in building a trusting relationship with your payment gateway provider.
An international payment gateway is a crucial tool for businesses seeking to expand their global reach and offer secure and seamless payment options to customers around the world. By choosing a reliable and efficient payment gateway solution, merchants can optimize their sales, reduce risks, and ensure a positive customer experience, ultimately adding growth and success to their businesses. Contact Quadarapay today to start accepting payments with their tried-and-tested international payment gateway.