Online shoppers nowadays expect a superior checkout experience. A robust e-commerce payment gateway can help businesses achieve this.
E-commerce payment gateways enable businesses to secure payments and deliver a positive customer experience at a minimal cost.
However, with various payment gateway providers flocking the fintech space, choosing one payment gateway can get tough.
Every business wants to play safe and offer their customers a reliable payment method while catering to their preferences. Moreover, businesses need payment gateway integration compatible with their CMSs.
In recent times, Magento has emerged as one of the most preferred e-commerce platforms among businesses looking to go online. If you want to learn how to integrate a payment gateway in Magento, you are at the right place.
But before we get to the integration part, let us understand the basics first.
What is Magento?
Magento is an e-commerce platform that offers a flexible shopping cart system to customers. It also gives merchants total control over the look, content and functionality of their online stores. Magento also comes with robust marketing, search engine optimization, and catalog-management tools.
Magento is a flexible platform that is compatible with many payment gateways for enabling online payment processing.
There are many payment processor companies or service providers of payment gateway for Magento 1, 2 or 3 versions.
However, intelligent e-commerce business owners go for only the best payment gateway integration in Magento to offer the maximum benefits to their customers. Paytm Payment Gateway can deliver that and more.
Why should you integrate your Magento e-commerce store with Paytm Payment Gateway?
Here are a few benefits of setting up a payment gateway into your Magento store:
Offer 100+ payment methods
A payment gateway is a foolproof way of securely accepting debit/credit card payments on your Magento e-commerce store.
You can configure your e-commerce store to accept credit card payments without integrating a payment gateway. However, this method is prone to exposing your customers’ credit card details to outsiders.
Moreover, this is not a PCI-compliant method which may probably cause trouble if your Magento-based e-commerce store is ever compromised.
By integrating PCI-compliant Paytm Payment Gateway into your Magento e-commerce store, you will offer your customers to choose their preferred option from 100+ payment methods. For example,
- Debit Cards & Credit Cards
- Net Banking
- Paytm Wallet
- Paytm Postpaid
- All UPI apps
- EMI
- Fixed deposit with Paytm Payments Bank and more.
Guarantees PCI compliance
Every e-commerce store accepting credit cards as a payment method needs to be PCI (Payment Card Industry) standards-compliant. Handling sensitive credit card information yourself can be a hassle.
You can avoid this by using a third-party Magento integrated payments system, such as the Paytm Payment Gateway, to make it easier to meet PCI compliance standards.
Cover international markets
The ability to adapt to changing market needs is the key to business growth. Similarly, you need a payment gateway that adapts to the growing needs of your business.
Do you wish to expand your business beyond the domestic market and cater to an international customer base in the future? You will need to integrate an additional Magento payment gateway plugin later to enable international payments.
To process transactions in foreign currencies as per the local regulations, you need to integrate relevant payment methods in your Magento e-commerce store. With Paytm Payment Gateway, you do not need to integrate a separate international payment gateway later on.
Builds consumer trust
Trust is a key factor in the success of any business. According to Shopify, 18% of shoppers abandon their online shopping carts due to a lack of trust in the website.
Advertising the payment gateway you use, like the Paytm Payment Gateway, at the time of checkout is ideal. Doing so will put your customers’ minds at peace, gain their trust and reduce abandoned carts.
Protects against fraud
Choose a payment gateway with a foolproof payment infrastructure capable of protecting you and your customers from all kinds of fraud.
Paytm Payment Gateway conducts all the necessary checks to ensure your customers can transact safely and confidently on your online store.
Customizes customer checkout process
Long and complicated checkouts that involve a lot of redirections can be frustrating for the shoppers. They are also one of the key reasons behind a higher rate of online cart abandonment.
Paytm Payment Gateway offers numerous checkout solutions to ensure businesses enjoy high conversion rates while delivering a superior shopping experience to their customers.
Also Read: Factors to Consider when Integrating Payment Gateway in Android/iOS Mobile App
How to Integrate Paytm Payment Gateway in Magento?
Before you begin Magento payment gateway integration with Paytm, make sure you have a registered business account with Paytm for Business. Next, follow the steps explained below:
Step 1: Generate your Magento payment gateway API keys with Paytm
To generate the API Key,
- Log into your business dashboard
- Click on the ‘Developer’ tab on the left menu bar and select the API Keys from the drop-down menu
- Select the mode for which you want to generate the API Key from the menu
- Click on the ‘Generate now’ button to generate a key for the test mode to test the functionality
- To generate the actual production keys, you need to first activate your account by submitting relevant business documents
- Once you submit the documents, our internal team will verify them. Upon successful verification, you will get the merchant ID and the merchant key.
Note: You need to generate separate API Keys for the test and live modes. You will not be charged anything for using test keys in test mode.
Step 2: Installation
This step majorly includes integrating Paytm’s Magento code repository in your Magento e-commerce store.
The code repository is different for different versions of Magento. So, you need to download the Paytm repository according to the Magento version you use for your e-commerce store.
Payment gateway integration for Magento 1.x
- Download the ZIP of this repository, unzip it and open the downloaded file
- Copy the ‘App’ and ‘Skin’ folders from the required Magento 1.x version
- Paste and merge them into the Magento Webstore ‘Root’ folder
- Next, log in to your Magento Webstore Admin account
- On the top admin panel, go to the ‘System’ tab. Then click on the ‘Cache Management’ button from the drop-down menu. Next, click on the ‘Flush Magento Cache’ option to proceed with the installation
Payment gateway integration for Magento 2.x
- Download the ZIP file of this repository. You can also call it Paytm’s resource for the payment plugin for Magento.
- Unzip it and open the downloaded file
- Copy the ‘app/code/One97’ folder from the ‘Magento 2.x’ version
- Paste and merge them into the Magento Webstore ‘Root’ folder
- Run the command below from the Magento Webstore folder to proceed with the installation:
- php bin/magento module:enable One97_Paytm
- php bin/magento setup:upgrade
- php bin/magento setup:static-content:deploy
Payment gateway integration for Magento 2.3 & 2.4
- Download a ZIP of the repository, unzip it and open the downloaded file
- Copy ‘app/code/One97’ folder from the ‘Magento_V2.3+’ version
- Paste and merge them into the Magento Webstore ‘Root’ folder
- Run the command below from the Magento Webstore folder to proceed with the installation:
- php bin/magento module:enable One97_Paytm
- php bin/magento setup:upgrade
- php bin/magento setup:static-content:deploy
Step 3: Configuration
The configuration part is similar for all the versions of Magento. Below are the steps involved for the same:
- Log into your Magento Webstore Admin account
- On the top panel, go to the ‘System’ tab, select ‘Configuration’ from the drop-down menu
- Next, select the ‘Payment Methods’ and edit the Paytm gateway extension
- Save the configuration below:
- Enable Plugin: Yes
- Success Transaction Status: Processing
- Fail Transaction Status: Canceled
- Title: Paytm PG
- Generate invoice automatically: Invoice is to be generated or not
Note: Refer to the business dashboard for the following details to complete the configuration process.
- Merchant ID: Provided by Paytm
- Merchant Key: Provided by Paytm
- Transaction Environment: Select the type of environment
- Website Name: Enter your Website Name provided by Paytm
- Industry Type: Type of industry such as Retail, Entertainment, etc.
- Saving the above details will enable the Paytm Payment Gateway, and you will be able to accept online payments on your Magento e-commerce store.
Note: If you have a Linux server, you must ensure that the folder permissions are set to 755 & file permissions to 644.
You can also check these steps here on our developer portal for more clarity.
Online payments have seen a tremendous increase in the adoption rate especially post the pandemic hit. To leverage this trend, e-commerce stores are investing in improving the checkout and the overall shopping experience of their customers.
Integrating a robust payment gateway can accelerate the checkout and money transferring process from your customers.
Magento-based e-commerce stores should consider Magento payment gateway integration that offers a comprehensive list of features.
So, wait no more.
