The future of physical stores has changed thanks to an eCommerce Payment Gateway. A firm can accept payments online and grow their business thanks to a payment gateway. Electronic commerce is a result of brick and mortar stores changing how they operate.(ecommerce payment solution)
A payment processing channel can be integrated by an eCommerce merchant to automate the processing of online payments. Numerous features are permitted, giving customers the greatest possible payment experience. As a result, a company needs to contact a payment service provider. However, service providers frequently halt the services on the website as a result of chargebacks.
Let us share some little-known information with you regarding eCommerce Payment Gateway that will be very helpful to your company.
The eCommerce Payment Gateway: 5 Little-Known Facts(ecommerce payment solution)
It is Totally Secure: The majority of retailers think that internet payments can be easily tricked or compromised. But that is not the case. On the other hand, a number of security measures is protecting a payment processing channel.
Information security is guaranteed throughout the payment processing with PCI Compliance Level 1. PCI SSC provides the compliance (Payment Card Industry Security Standard Council).
Data is encrypted along the transmission thanks to Point to Point Encryption, or P2PE. It guarantees that any payment information used by customers will not contain any sensitive information that could be viewed by hackers.
Dynamic 3D Secure: This type of payment gateway handles transactions using a thyroid layer of authentication. The channel is made more secure for the payment because it creates an OTP to authenticate the transaction.
Tools for preventing fraud Numerous fraud prevention capabilities are provided on the payment processing channel by an eCommerce Payment Gateway from reputable service providers like eMerchantPro. tools like:
Address Verification System, or AVS, is a fraud-prevention programme. It gives your company the strongest anti-fraud defence.
Device ID: Customers will receive immediate notification if they pay with a new device.
Fraud Scoring: It calculates a score by looking for scams committed by a certain customer. They will terminate the payment processing if it exceeds the threshold.
CVV Checker: CVV is a crucial component of card payments, and inputting the incorrect CVV will immediately halt the transaction.
Consumers, not you, are the ones who require a payment gateway for your company. Yes! You read it correctly! Customers demand the ability to pay for things online using a payment channel. Consumers are at the heart of the eCommerce industry. They also want the convenience of online shopping. It makes it possible for them to be debt-free. eCommerce is therefore a consumer-centric sector with a variety of consumer effects.
A payment gateway is a dynamic product; it is not static. The answer relies on the merchant’s requirements for their eCommerce business. The payment gateway’s appearance and method of processing payments are both customizable.
Multiple Currencies: If a firm wants to grow internationally, it requires a wide range of currency options so that customers can pay in their preferred currency.
Payment methods: Consumers like a variety of payment options. While some people favour checks, others use eWallet. Therefore, they require multiple payment options.
Option for integration: You require a payment gateway for your website or mobile application. It affects the integration capabilities of the payment gateway as a result.
It’s Cheap: At first glance, the eCommerce Payment Gateway appears to be expensive. One gets the impression that the service provider will want the globe in return for the payment services. But that is not the case. On the contrary, eCommerce merchants can afford a payment gateway. Additionally, it is economical because it will give your company a safe way to accept payments. It also offers a variety of options so you may select the best services for your company.
A brief overview of eMerchantPro(ecommerce payment solution)
Ecommerce Payment Gateway provide access for the merchants by eMerchantPro. Our payment gateway uses cutting-edge technology and is totally safe. They expanded payment gateway to include a variety of functions to provide you the greatest options.
Additionally, we have a devoted team of professionals to offer you total Merchant Assistance for your business. By accepting payments online, eCommerce Payment Gateway enables you to reach a global audience.
Our payment gateway is well-equipped with a variety of features, including multiple payment and currency possibilities. As a result, you may concentrate on your clientele while we concentrate on handling payments.
Adobe Commerce(ecommerce payment solution)
Soon, they release a new Payment Services feature for Adobe Commerce, Adobe Commerce Admin is controlling Adobe-based payment solution.
Since PayPal’s own commerce platform will enable the Payment Services for Adobe Commerce solution, retailers won’t have to handle their own payment provider integration effort.
According to Adobe, “Payment Services will offer merchants a completely integrated experience, with easy access to all payment and transaction data from the Adobe Commerce Admin. For their payment processing, merchants won’t have to deal with multiple logins or other fragmented user experiences, such as reconciling, analysing, and verifying sales data by exporting and importing reports from other systems.
Additionally, the service will let businesses accept popular payment methods like Venmo and PayPal (including PayPal’s pay later options). Additionally, merchants will be able to benefit from PayPal’s investments in non-traditional payment options like cryptocurrencies. According to the Adobe Digital Economy Index, use of buy now, pay later (BNPL) services increased 88% in the first half of 2021 compared to the same period in 2019.
According to Adobe, Payment Services will provide merchants with detailed reporting capabilities, including information about the volume of transactions processed, the payment balance, and transaction level reporting for financial reconciliation. This will give merchants a clear picture of the orders and payments made through their store. Additionally, merchants will have access to a single dashboard that will show them the entire order flow from the time they placed an order until settlement.
Scott Rigby, lead product manager for Adobe Asia Pacific, claims that internet commerce has supplanted traditional channels of corporate expansion. Platforms now need to be efficient and flexible.
Global Payment Platform
The addition of the payment services will give customers the ease of a unified platform and the capabilities to streamline commerce operations needed to grow in a digital-only economy. “With Adobe Commerce, our focus has always been to help customers across the full breadth of their commerce journey.
They scheduled the platform to launch in the US later this year, with rollouts anticipated in Western Europe, Australia, and other areas in 2022.
Amit Ahuja, vice president of Adobe Experience Cloud Product and Strategy, asserts that commerce platforms must provide clients with a smooth experience.
“We’re excited to add Payment Services to our already rich set of out-of-the-box commerce features to support Adobe Commerce merchants in being competitive and successful in the digital-first economy.
Citcon Increases Ecommerce Payments Presence in Japan and South Korea
Global Payment Platform Allows Merchants Operating in Asia’s Second and Third Largest Ecommerce Markets to Accept Seamless Local Payments at Scale
Citcon has South Korea and Japan Inc.’s worldwide presence, making it the top mobile wallet payment solution for facilitating global commerce at scale. Through a single payments gateway, businesses using Citcon’s global payments gateway may now deal with customers in these areas using all local payment options, including more than 30 locally issued credit and debit cards and eight well-liked digital wallets.
“TO ENABLE CROSS BORDER COMMERCE, CUSTOMERS’ EXPERIENCE INSIGHT TO ENSURE A SMOOTH CHECKOUT PROCESS IS JUST AS IMPORTANT AS AN UNDERSTANDING OF MARKET DYNAMICS AND TRANSACTION PREFERENCES”
There are nearly $2.99 trillion in retail e-commerce and digital sales in the Asia Pacific region in 2021. Japan and Korea are the second and third largest marketplaces in the area, ranking only second to China, the world’s largest market for digital sales and e-commerce transactions. Digital trade between Japan and South Korea is larger than that between Germany, France, and India put together.
The State Bank of Texas is the nation’s top-performing community bank, according to the most recent fintech news.
According to Chuck Huang, founder and CEO of Citcon, “We are enabling merchants to reach global countries where ecommerce is booming rapidly, yet market participation requires a localised payments solution.” “With on-the-ground presence in South Korea and Japan, we can assist merchants of all stripes expand their e-commerce offerings into these rapidly expanding markets, enabling them to securely transact in local currencies and native languages preferred by customers in these regions through one integrated technology stack.”
Citcoin’s global payment system make the difficult task of integrating and administering many payment methodologies to enable cross-border business simpler. Through this platform, local transactions are routed through local acquirers in South Korea and Japan, even for those using international credit cards. This drastically lowers processing costs for businesses and raises consumer acceptance rates. To enhance security and fraud protection for purchases made with international credit cards, they incorporate 3D Secure 2.0 standards.
The Citcon platform now allows 30 international and regional credit and debit cards for merchants, including Visa, MasterCard, AMEX, JCB, DinersClub, BC Card, Lotte, Hyundai, KB, Samsung, Samsung App Card Pay, Shinhan, Woori, Hana, Citibank, Post Office, Kwangju, L.Pay, Kakaobank, MG, Suhyup, Jeonbuk, Shinhyup, Jeju, KDB, Hana,
The most widely used digital wallets in each nation are also usable on the Citcon platform. In Japan, merchants have access to PayPay, RakutenPay, LinePay, AliPay, and UnionPay for transaction processing. Citcon offers direct bank transfers as well as support for the most widely used digital wallets in South Korea, including Toss, KakaoPay, NaverPay, and Payco.