A payment gateway helps keep the online
transactions rolling smoothly for both the merchants and the customers. It is
just a medium that helps in transactions of payments from the customer to the
acquiring bank. A payment gateway helps validate the payments made by the
customer by checking into the card details securely, ensuring there are
sufficient funds available to make the payment, and eventually processing the
transactions into the merchant's bank account. The key players of an online
payment gateway are customer, merchant, issuing bank, and the acquiring bank.
In short, the payment gateway acts as the middleman between the customer and
the merchant. If you are looking for a payment gateway provider for your
business, Payment Asia is a trusted provider. Take a look at Payment
Asia reviews!
Advantages of a Payment Gateway
Payment gateway technologies offer easy, quick, and safe transaction options for online businesses. They help run the business smoothly without much hassle of bill payments. A payment gateway is a secure way of online payments. Especially if you have customers across the globe, payment gateway technologies help make online payments easier through multiple currency payment options, net banking, and mobile banking. A payment gateway completely relies on customer given information. They also help protect the merchants as well as the customers from insufficient fund details, closed accounts, and an expired card. Also, if your customers are using a credit card to make any online payments, the payment gateway helps to identify any exceeding credit limits, thus, making it easier for customers to make a choice of mode of payment.
How does a Payment Gateway Work?
A customer looking for a particular product would
perhaps, scan through your website for the desired product. If he likes
something, he will choose the product or services and proceed to the payment
page. The payment page will give the customer multiple payment options to
choose from. All the details provided by the customer are securely passed on to
the payment gateway provider, such as Payment Asia. The Payment gateway
provider does encrypt the data and checks for any fraudulent activity,
sufficient fund details, card expiry, and account details before the card data
are sent to the acquiring bank. The acquiring bank sends the details to the
card schemes (credit or debit card) and then the payment data to the issuing
bank. The issuing bank then authorizes the transactions. After the transaction
has been authorized, the acquiring bank sends out a success or decline message
to the merchant.
If you are looking for a trusted payment gateway
provider in China, Payment Asia is your one-stop solution. Take a look at Payment Asia reviews and see what some
of the clients have to say about their experience of partnering with Payment
Asia.
