Which Type Of Digital Payment Gateways Is Right For Your Business Website?

By Author: Mohit Arora
Total Articles: 17
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Nowadays, most retailers move to the online world to sell products and services. However, modern customers making deals online prefer digital payment. That is why e-retailers have to integrate payment gateway into their platforms. Although there are options for Cash-On-Delivery, merchants need to add some online payment options for their customers. They can rely on the Payment Gateway Service to ensure secure transactions and gain the trust of customers.

We will introduce you to payment gateways of different types.

Hosted Payment Gateways

When you have chosen a Hosted Payment Gateway, customers will move from the checkout page to the PSP page. After entering the transaction details, buyers will reach the final step of the process.

However, with an inline frame, PSP generates a form that you add to your site. This form enables you to accept a debit/credit card without storing the card data on the site. In this case, the inline frame collects the payment details of your shoppers.

While the buyer is making recurring payments, the payment gateway deducts the amount using the generated process. ...
... Then, it sends a notification to your site to inform you about the payment. PayPal Standard and 2Checkout are some common Hosted Payment Gateways.

Self-Hosted Payment Gateways

Merchants have to collect payment information from shoppers on the website. After they have requested data, it reaches the gateway URL. While some payment gateways need a secret key, others ask for a particular format for the payment data. The two reasons for choosing self-hosted gateway are customizable flow and simple transactions.

One of the demerits of this payment gateway is that there is no team for technical assistance. Thus, you can call no one to solve your problems.

Direct Payment Gateway

Not all payment processors are compatible with the Instant payment message. They make profiles while deducting the amount of the buyer’s credit card without informing the system. Moreover, they will inform you about the approval and rejection of a credit card. Thus, the system has to inquire of the interval to the processor to identify the payment status. The processor will work with both recurring and fixed payments. However, one of the cons of this gateway is that it may not offer instant service.

Platform-Based Gateway

These gateways present you with a platform for the direct sale of products from the server. As an online merchant, you must create a subscription on the platform. Then, it will redirect users to the platform using the checkout button. Your customers may choose their preferred currency and language while making a deal.

API-Hosted Gateway

You may like to control the checkout process without directing buyers from the checkout page. In this case, you may choose API-hosted payment gateways. Customers have to input their card details to the checkout page to process digital payments.

Based on the available data, the system will generate payment calls internally to the gateway. Some gateways also give opportunities for payment cancellation, inquiry, refund, and other options.

We have discussed the most common types of digital payment gateways for E-Commerce business owners. Now, you can look for the best Online Payment Gateway Providers for your digital store. WorkLooper Consultants Pvt. Ltd. is a reputed company providing payment gateway services for online merchants. Integrate the most reliable gateways into your platform.