Every business demands a plan to secure payments, but with so many financial services choices for online businesses, it’s an intimidating choice for companies to make. Not only do you have to study the technical and logistical hurdles of setting up a different payment gateway, but you also have to consider convenience for your customers and, perhaps most importantly, that gateway’s security.
What is a payment gateway?
In case you aren’t familiar, a payment gateway is a merchant aid used as a third party to approve online transactions. Typically, when you obtain a customer’s payment-related information, for example, credit card details, it is transferred to a payment gateway. The payment gateway will then transmit the information to the acquiring bank and ultimately to the issuing credit card firm.
Once you understand what to expect from a payment gateway, it serves to narrow the center to choose your payment gateway of choice.
You won’t have any difficulties finding a mainstream payment gateway that makes your shopping carts easy to use, so let’s converge on the security aspect.
According to Experian, 27% of customers stated abandoning a cart only due to a shortage of evident security.
To guarantee that you’re working with a secure payment gateway, ask these 4 questions:
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What payment modes your customers use commonly?
This question is one of the critical questions you need to ask: what are your consumers already using to manage their payments?
If you accumulate your payment gateways and promote a payment type they can use, you’ll run into lesser problems and run lesser security risks. All-In-One Payment Gateway is the only payment gateway that offers the widest range of payment methods:
- Paytm App
- All UPI Apps
- Debit/Credit Cards
- Net Banking
- Paytm Postpaid
- EMI
Paytm All-In-One Payment Gateway is known to offer a 99% transaction success rate on payments made via Paytm App and Paytm Postpaid.
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What is the payment gateway fee?
The expenses of eCommerce fraud can add to your bottom line.
That means that if a payment gateway’s cheaper costs are outrun by the money you contribute to added security concerns and fraud detection, it might not be worth that expense.
Analyze the fee of your payment gateway and how it compares to your security costs.
Paytm All-In-One Payment Gateway offers excellent solutions at economical rates.
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What kind of reputation does your preferred payment gateway enjoy?
If over a fraction of consumers want to see visible security checks at checkout, you’ll have to use a payment gateway that they put their belief in.
If you want to stop customers from ditching their carts, avoid faulty payment gateways.
Instead, center on large payment gateway providers with built reputations, such as the Paytm All-In-One Payment Gateway.
This brand perception works in your favor by highlighting your safety and encouraging a customer to continue shopping.
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How secure is the encryption?
To be sure, you’ll want to go with PCI compliant businesses.
(PCI DSS) The Payment Card Industry Data Security Standard is a conventional system to uphold the electronic world’s security requirements.
Before you pull the trigger on any gateway, double-check that they are PCI compliant. These are measures put in place to preserve customer data and payment information.
For example, if you were contemplating using Paytm All-In-One Payment Gateway as your payment gateway of choice, you would find that our solution is PCI compliant, which should provide you with faith in our encrypting process sophistication.
Choosing the right Payment Solution is essential for substantial and long-lasting growth. Payment gateways like Paytm All-In-One Payment Gateway let you accept online payments on your business app or website effectively and securely.
Also Read: Instant Onboarding: Start Accepting Digital Payments within Seconds
Paytm also uses the latest anti-fraud technology to keep things secure for you and your customers. Paytm has a dedicated team of 200 cybersecurity experts to guarantee every user transaction is safe. Paytm is also certified by the Payment Card Industry — Data Security Standards (PCI-DSS) with 128-bit encryption. Artificial intelligence is regularly used to identify and block suspicious-looking transactions — by investigating the behavior of fraudsters. Paytm’s security feature will also scan the other apps on user devices to let users know if there are any risky apps installed that may put user accounts at risk. If such apps are found, Paytm will not permit any transactions to keep users safe unless they are uninstalled.
Choose the Paytm All-In-One Payment Gateway to reap all these benefits now!
