Launching an Ecommerce store? Congrats! You will be jumping on the billion-dollar industry bandwagon.
Do you know?
Checkout stays at the heart of Ecommerce development about which the e-retailers are laser-focused. But, the harsh reality is most of the carts are abandoned at the time of making payments. The unavailability of the audience-preferred payment option, lack of trust, security concerns, and certain limitations are the reasons that deter the users from making an online purchase.
It’s a sign- payment gateway selection is one of the vitally important considerations. Confused a little? Let’s shed some light over it:
The payment gateway is software which helps online store authorize and process payment from the customers. The trouble-free transactions are ensured between merchant accounts and the customers through a technology that enables encryption and security protocols from end-to-end.
Read more : E-Commerce Platforms for Small Business 2020?
Under the online payment transactions, three parties are involved namely- merchant, customer, and technology. The customers make the payment using the debit or credit card. The merchant partners with a bank, which accepts the payment on the merchant’s behalf, and then deposits the payment upon the successful transaction into the merchant account.
Read more: Payment Gateway For Your E-Commerce Store?
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