The e-commerce business is one of the most thriving businesses globally & in the UAE because of the pandemic. People have started to get used to the new normal of maintaining social distancing. And so people manage to shop online more than before.
When people look for options for online shopping, they always look for sites that they can trust in all aspects—a one-stop-shop of quality, timely delivery, secure payment, and even offers. Having a secure payment gateway with the E-commerce site will increase the customers’ trust towards the brand. There are different payment gateway providers in UAE.
But if you have or want to assemble an online shop – eCommerce website, and you are located in the UAE, you must contact a website development company in Dubai.
Payment gateways allow offline and online retailers to provide their customers with a safe credit card and digital wallet payment choices. Payment gateways are critical in helping organizations thrive as technology offers new payment methods and marketplaces.
To build web apps, we, as a Website Development Company in Dubai, draw on our many website designs and development experience and best programming methods.
Payment gateways allow you to accept card payments online or in-store, which means they can process credit card payments both online and offline and interact with in-store Point of Sale (POS) systems. Some payment gateways are merely a mechanism to charge cards, with costs ranging from 1.4 to 3.5 percent and no monthly fees imposed on the merchant.
The most important features of the online payment system
The key part of your online business is the payment system. If you have a steady and up-to-date system, your customers will quickly make their purchases. Customer satisfaction and a positive experience with your online store are some of the best recommendations, and you will be sure that customers will come back to you again. If you want to understand the payment structure before developing your new website you should first understand the process of web development for this you will be needing Web Development Services in Dubai.
Firstly, you should know that not all payment gateways are available in all countries. Some states and banks do not recognize specific payment systems, so it is best to examine which system is approved in your country. When it comes to the UAE, these are recommended payment gateway options:
Telr
Payfort
2Checkout
PayPal
Stripe
PayTabs
Checkout
Cashu
Myfatoorah
But to give you a better overview, Here we will show you which online payment systems are the most effective and effortless to integrate.
PayPal
PayPal, which was founded in 2002, is now the most widely utilized payment gateway globally. It allows payments in both foreign and multi-currency currencies. Businesses choose PayPal for various reasons, including brand recognition, security, and ease of setup. PayPal is the most popular Gateway service among small businesses and startups, despite being the most expensive. PayPal’s main advantages are that it is available in 203 countries, there are no beginning expenses, and there are no monthly fees (It works on as per transaction service charges). PayPal has a robust anti-fraud staff, and several suspect accounts have been reported to have been blocked based on transaction analyses.
Amazon Pay
Amazon has become the latest tech giant to offer its digital payments services in the UAE and broader region, joining Apple, Samsung, and Alibaba.
Thanks to its prominent brand reputation, Amazon Pay swiftly catches up as the go-to option for hosting payment gateways for Small and Medium Businesses. A comprehensive fraud prevention solution is available with an Amazon Pay merchant account.
With Amazon Pay Services, businesses can accept online payments using both global and local payment methods, offer installments to customers, and monitor payment performance. The service is now available in the six Gulf markets plus Lebanon, Jordan and Egypt.
Authorize.net
Authorize is well-known for its developer-friendly API and its flexibility in providing a personalized, pleasant user experience. It is regarded as incredibly safe, and it touts its comprehensive fraud detection suite, which helps to prevent chargebacks and fraudulent transactions. It does not impose a monetary restriction on transactions, allowing for rapid transactions and cash transfers. This payment gateway offers a variety of add-on services, such as fraud prevention and a straightforward checkout process. The main difference in billing is that there is a fixed monthly price in addition to transaction costs.
WePay
WePay is more recognized for its Crowdfunding services than for its e-commerce offerings. WePay’s API and services are geared at crowdfunding sites and optimized for that transaction. It accepts Apple Pay and ACH payments, which PayPal does not; nevertheless, it does not accept PayPal payments, which is a considerable disadvantage. WePay, like PayPal, is a payment aggregator, which results in several accounts being frozen as a result of transaction evaluation algorithms.
2Checkout
2Checkout is a payment gateway provider that is less well-known. It takes payments in over 200 countries and supports more than 80 currencies. It is chosen because of its straightforward integration capabilities, despite being more expensive than its competitors. There are no setup or monthly expenses. Even though it accepts foreign payments, the conversion rates are 2-5 percent more than the typical bank rate.
In 6 Easy Steps, Learn How Payment Gateways Work
Payment gateways are similar to the checkout counter at a physical business.
There are no longer any trolleys that can be wheeled up to counters. Customers instead choose their purchases, submit their payment information, and then complete a one-click checkout on your site’s e-commerce platform.
The technique for using a payment gateway is quite simple:
Browser Encryption
The consumer uses the browser’s built-in encryption (generally with HTTPS [HyperText Transport Protocol Secure] protocol).
This secures their data while sent from their machine to your server.
Data Sent to Gateway Server
Your server delivers the information to your specified payment gateway server, encrypting it using SSL (Secure Socket Layer). This information must be sent to the payment gateway server.
Data Sent to Your Bank
The purchase is forwarded to your bank via the payment gateway, which again uses SSL. Data transmission through the bank is a crucial step in obtaining payment authorization.
Data Forwarded from Your Bank
Your bank sends the information to you, encrypting it with SSL. This is sent to the customer’s bank or credit card payment processing agency to verify funds.
Authorization
The payment processor sends an authorization or a failure to the payment gateway based on available credit or money.
Authentication
The answer from the payment gateway is sent to your web server, where your e-commerce software either completes or denies the transaction.
Final words:
The market is already brimming with various Payment Gateway providers that you can integrate with your website for a minor service fee or set monthly fees, depending on the volume of transactions your web portal anticipates.
Starting an e-commerce business is easy; keeping it up and running is the real art. Apart from all the conditions required to run an eCommerce venture, you also need to care for the payments. Ensure that the payments are correctly collected and on time.
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