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Importance of Payment Gateway in E-Commerce Stores


When you run an E-commerce business, Payment Gateway is indispensable; you can’t complete even a single transaction without it. When you work online, your customer is not in front of you to pay cash, so you need to incorporate a gateway using which they can pay money online. A Payment Gateway in the UK acts as a mediator between E-commerce sites and the payment processors. In the present time, when frauds are consistently on a rise, having this software application helps minimize risk and protects your transaction by encrypting data, verifying addresses and other personal information.

How Does a Solid Payment Gateway Work?

When your customers pay online for goods and services, the details are sent to the payment processor through the payment gateway. The gateway encrypts the data to keep unwanted threats away from the sensitive card details. Then, the payment processor notifies the card-issuing bank. This bank, after performing fraud screening, approved or rejects the transaction. The processor then transfers the authorization message back to the payment gateway that then transmits the message to the merchant. If the transaction is approved, the funds are deducted from the customer’s bank account and credited to the merchant’s bank account.

There are two options of payment gateways available that are hosted and integrated. So, you should choose the right one for your business after careful research. Besides, identify the different payment modes your chosen gateway supports. One of the major roles of the payment gateway is fraud prevention. Make sure your preferred gateway is PCI-DSS Level 1 Certified cloud payment platform and has built-in security settings such as AVS, 3D Secure, CV2 checks, and additional pre-integrated third-party fraud solutions. 

So, be wise while choosing your gateway or Payment facilitator in the UK.

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