Integrating Payment into your Website

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With so much business being done on the internet nowadays, you would be forgiven for wanting to integrate some sort of payment system into your website. Whether it’s for a booking system, eLearning or eCommerce business, then not only does an online payment option help your business run smoothly but it’s extremely convenient for most modern day customers.

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Surveys show that if a website has a long-winded checkout process, 21% of users would not continue and find the procedure in favour of a simpler one and 17% will leave the site if the payment process is not secure. This tells you the two most important factors you should consider when choosing a payment gateway. There are many to choose from now.

If you’re looking to start your own website, then try this free website builder but if you have the website and want to know more about integrating a payment system, then read on.

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What are payment gateways?

Payment Gateways are basically a virtual equivalent to an actual retail location payment terminal.

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A payment gateway is an online solution that connects your business account with your website to which you wish to receive cash. It forms a protected passage between online retailers and purchasers.

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Such an solution is a principal feature that is presented by most eCommerce solutions. It helps anyone make a purchase at anyplace on the planet while guaranteeing the greatest security.

Here is a basic guide to a transaction:

  • A client completes an order or request by clicking a submit button or something similar.
  • The client is diverted to a payment gateway, permitting him or her to pick a method of payment through their bank site or via credit card. The exchange is moved to the responsible bank or another page like 3Dsecure to verify the exchange.
  • The bank checks if the client has sufficient money on his/her record to give the payment gateway the correct response and make the exchange.
  • Whenever the response from the bank is verified, it goes to the trader. Assuming the response is negative, the dealer will show a warning with regards to an error in the transaction to the client.
  • Eventually, the bank settles the instalment with the payment gateway, which settles the cash with the trader.

Check your web host

Once you understand fully how each payment gateway works, it is best to check with your web host or website which payment methods might be compatible with your website. Some website providers may already have certain payment gateways integrated into their sites, which can be activated or quickly implemented on your website.

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You may also need to check your shopping cart software to see which payment gateways might be compatible with it before you choose. You might be able to find a list of compatible gateways on their support page.

Browse your options

There are many payment gateways out there now, so it is important to look into each one carefully. These gateways also come with fees which you should pay attention to, along with the transaction fees that you may incur from your bank account. On top of this, some charge transaction fees for account to account transfers such as PayPal to PayPal payments, which cost 5% of the amount sent.

Some of the most popular payment gateways are:

  • PayPal
  • SecurePay
  • Payza
  • Egopay
  • Perfect Money
  • Verify
  • net
  • Braintree

Choosing between a direct gateway and an external gateway can also be an important decision, as mentioned before, about many customers abandoning the process if it is too long winded. An external gateway will redirect customers to another site to complete the payment. Whereas, direct gateways will process the payment on site.

Build your own

If you’re feeling creative and adventurous, you could build your own payment gateway, which has its benefits. Although this is the more difficult option, it does mean you can avoid the extra fees of a readymade gateway and you can design it to fit better to the design of your website. Unfortunately, this is not the simplest and if you aren’t particularly computer literate it probably isn’t the best option.

If you would like to broaden your audience and are looking for ideas to increase your online presence, then take a look at this article.

In conclusion

With so many options of payment gateway on the market, it would be unfortunate if you couldn’t find the right one to fit your business. Choosing the correct provider is a key decision for your business and can really finish off your website nicely. Most of these gateways provide strong protection such as two-factor authentication and TLS encryption for your customers, which is a big plus for most people.

If you’re a small business owner looking for inspiration after a tough year of lockdowns and restrictions, then check out this article about some of the success stories from 2021.

 



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