Every business that sells products or services online needs to be able to accept cashless payments. A third-party service provider - called a Payment Gateway - usually, handles the processing of transactions on your website. To put it simply, they accept money from customers through cards or wallets and update it into your account. Some examples of popular payment gateways include PayPal, Stripe, and Authorize.net. How do you quickly & securely integrate a payment gateway into website? Pick the right gateway The first step is choosing the right gateway for your business type and long-term goals. Providers will, typically, charge you a monthly licensing/usage fee as well as a per-transaction fee - which goes up if it is an international transaction. Costs can quickly mount up – so do your research and get multiple quotes before settling on one. Create a merchant account You will then need to create a merchant account where you can accept payments. These merchant accounts will also charge you a transaction fee. Like before, do your research well before picking one. Consulting with an experienced eCommerce web developer can help you make an informed decision. Add the gateway to your site The next step is to add the option to your site. Depending on the provider, you will have one of two choices:
Building a custom gateway Don’t want to pay huge transaction fees? You could create a custom gateway (or hire developers to do it for you). What’s the catch? Development can be expensive – upwards of a $100,000 for a simple, no-frills option. Thousands of websites get hacked every day. It’s important that the solution you add to your site is as hacker-proof as possible. For best results, hire a web development team in Singapore to help you with the task, so that any transactions conducted on your site will be secure.
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AuthorExpertise in Web & Mobile App Development as done many projects in eCommerce, CMS, Dot Net, PHP technologies Archives
October 2018
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