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Everything You Wanted to Know About Payment Gateways

Did you know that as much as 90% of login attempts at any ecommerce website were actually hacking attempts? That is the highest percentage at any sector. This is why having robust payment gateway systems can really help fend off these hacking attempts within real time, which helps provide an encryption buffer between the seller and the buyer. A robust payment gateway such as Payment Asia can help with preventing such attacks.

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Everything You Wanted to Know About Payment Gateways

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  1. Everything You Wanted to Know About Payment Gateways

  2. Did you know that as much as 90% of login attempts at any ecommerce website were actually hacking attempts? That is the highest percentage at any sector. This is why having robust payment gateway systems can really help fend off these hacking attempts within real time, which helps provide an encryption buffer between the seller and the buyer. A robust payment gateway such as Payment Asia can help with preventing such attacks.

  3. Why High Quality Payment Gateways are Crucial

  4. The better the quality of your payment gateways on your ecommerce site, the better it is to prevent hacking attempts. Such high-quality gateways can help to reduce the load time. In fact, some of the top reasons’ customers abandon shopping carts is due to various reasons. These include abandoning the cart for a more in-depth in-store experience. The other reason can be due to lack of options for payment. And also, technical issues in the site can cause customers to leave the shopping cart. Do be sure to check out Payment Asia reviews to understand the top-quality payment gateways they provide, catered to your requirement.

  5. What is a Payment Gateway?

  6. A payment gateway basically refers to a service provided by a merchant that processes payments through credit cards, for brick mortar stores and ecommerce sites. Some of the most popular payment gateways include Stripe, PayPal and Square. Thus, the payment gateway is like the cash register at an electronic transaction. Therefore, since it is similar to a cash register, it has to be convenient as well as secure to be used. Sites like Payment Asia help to provide secure and efficient payment gateways to process payments.

  7. Majority of the payment gateways can process this information with encryption which encrypts data between the buyer and seller. The request stage is when the payment gateway receives approval from the credit card organization or the financial institution in order to finish the transaction. The final stage is the fulfillment stage, where once the payment gateway has the authorization, it will allow the website as well as interface in order to proceed for the next action.

  8. Gateways vs. Processors the Difference Involved

  9. Many people use the words processors and gateways interchangeably. However, there are some important distinctions. The processor transmits and analyzes the data, which includes transmitting the data to the issuing bank, including the debit or credit card company that is linked to the bank account. This is very different from a payment gateway, which does the things mentioned but will also authorize fund transfer between seller and buyer. You can look at Payment Asia reviews to understand how their payment gateways operate and what kind of systems they have in place. Thus, the processor is the one that swipes the debit or credit card and sends the information to the issuing bank. Similar to a gateway, the processor includes both hardware and digital component or it could handle processing solely via the software to process payment. 

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