What is a payment gateway?
A payment gateway is a system connecting the merchant and the bank to facilitate online transactions. The term particularly refers to the server that transfers the customer’s credit card information to the Internet Merchant Account for assessment.
How does a payment gateway work?
| A payment gateway plays three major roles in online payment transactions: | |
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Authorise – It validates the customer’s payment (credit or debit card) information. Transfer – It transfers the validated information to the Internet Merchant Account for approval. Report – It records all the details of the transactions that took place. |
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It then reports back to the customer with the result of the assessment. |
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Successful – a receipt will be issued. You should check the confirmation email. Declined – this may be due to insufficient funds. You should discuss this with your bank. Error – incorrect information. You will have to try again. |
Why do you need a payment gateway?
A payment gateway enables online businesses to provide a fast and convenient online shopping experience. It is responsible for encrypting all data during e-commerce transactions, securely storing it on a server.
By integrating a payment gateway into your online store, customers will be encouraged to continue with the checkout process because they can easily pay for the products and services they require. They can select from the variety of payment methods and multiple currencies, the option that is most suitable to them. Online payments may be easily accepted, processed and transferred for customers, worldwide.
How do you get a payment gateway?
A lot of local and international companies offer a payment gateway solution. PAYMILL is dedicated to provide an outstanding payment gateway solution that is valued by merchants for its secured payment systems at affordable prices.
Why choose PAYMILL’s payment gateway?
Security
Paymill ensures that the customer’s information is kept confidential. We have level 2 PCI DSS Compliance, 3-D Secure, HTTPS with 256-bit encryption and SSL certificates with 4096-bit keys to prevent fraud and other security issues during online payment transactions.
Easy Integration
You can easily integrate Paymill’s payment gateway directly into REST API through an e-commerce platform or the installation of a plugin.
Reporting
You can formulate better solutions for your business because you will know how your business is performing. You can see all your payment data in the Merchant Centre.
Support
Paymill is just an email or a call away. You can always get in touch with us with any concerns regarding our services. You can also check our FAQs for more information.
Global Expansion
Paymill can help you swiftly enter the global market so that you can reach more customers around the world.
Affordable prices
Paymill provides a clear payment overview for every transaction starting at 2.95% + 0.28€ per transaction. We have no installation and monthly fees. We do not charge our merchants if the transfer is unsuccessful, cancelled or interrupted.
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