A payment gateway functions as an intermediate agency and liaises between customers and eCommerce stores in receiving payments and processing customer refunds. With a few clicks, data is sent across multiple parties. One of the most significant reasons behind deploying a reliable payment Gateway is to make payment processing effective, secure, and hassle-free. For smooth transitions, Payment Gateways observe PCI compliance standards to prevent fraud and to come up with advanced technologies in the ever-evolving industry. If you understand how payments Gateway works, you must also know the benefits of using it. Here are a few benefits that you get by using a reliable payment gateway.

• Using a Payment Gateway, merchants can seamlessly access their customer’s payment.
• It preserves the customer payment details shared through the digital platform.
• A well-built Payment Gateway prevents fraud and phishing activities while providing high data encryption.
• An efficient payment gateway minimises the abandonment rate and keeps a check on the of shopping carts due to a lack of payment options, technical issues, or poor in-store experience.

Every Payment Gateway is unique, and with the grave competition, the race to stand out never stops. But a user must be aware of the things that he should look for in the payment Gateway that he is deploying. Being an owner of an eCommerce store, you need to understand the mechanism of Payment Gateway to select the suitable platform and integrate it with your online store. Here are a few standard features of Digital Payment Gateways that one must know.

1. Local Support: If you are deploying a payment Gateway for your business, you must ensure that it is locally supported in your country. Despite global operations, local support is a prerequisite for a seamless experience.
2. Payment methods: Make sure that the payment Gateway seamlessly redirects the payment page and allows the checkout to happen with the payment processed at the back end. Ensure that the payment gateway offers multiple modes of payment so that your customer can pick their preferred mode of payment, leading to a reduction in the cart abandonment rate and churn rate.
3. Encryption Standards: Make sure that your payment Gateway uses the highest level of PCI and DSS compliance. If you are using the most reliable level of data encryption to safeguard your data, it will help you gain a sense of security with your customers. The payment gateway should use a Secure Server Socket layer encryption between the browser and the merchant’s web server. The merchant redirects the transaction to the payment gateway, which also has the SSL encrypted connection to the payment gateway’s secure server.
4. Compatibility: Most payment Gateways constantly try to maximise their user base with the hope of enhancing their capabilities with as many Finance technologies as it can be possible. Different businesses have unique needs, and for better compatibility, you must ensure that the payment Gateway has ready to use plug-in for seamless integration and it should be
5. Transactional Efficacy: Customers tend to abandon the cart if they are compelled to register for an account. If the checkout procedure uses third-party shopping care, make sure that the payment gateway remains flexible and allows guest entry. If possible, retailers make sure that the payment gateway makes the signup part optional, to reduce cart abandonment and remove unnecessary steps enhancing the transactional efficacy.
6. Easy Integration: The main benefit of payment gateway integration is accepting payment in real time. The idea is to select a well-built payment system that keeps the website intact without botching up the UX and the efficacy. A merchant should select a payment service-providing platform that easily integrates with your Ecom platform and enhances the customer experience to give them a smooth checkout process, where they can opt for the payment method of their choice.
7. Scalability: Your payment platform must have the potential to adjust to the growth of your business. The platform should not disrupt, no matter how less or more the volume of processing is. More than just flexibility, a scalable payment platform in India, can adapt to the newly introduced features in your business and are more likely to receive system updates and changes that may come over the period.
8. Economical fee structure: Payment Gateways charge a fixed rate for the services they provide. Make sure that there are no hidden charges that you are obliged to pay and analyse the charges that you are paying for every transaction. Additionally, you should be aware of the fixed charges, along with the contracts, cancellation policies and surcharges, if any.
9. 24x7 Customer Support: There is a plethora of payment Gateway in the market, that claim to be the best amongst their contemporaries. But the best one for you is the one that commits to being there for you even at odd hours so that you can sleep peacefully after resolving your issue and safeguarding it from the defrauders who can potentially deprive you of your hard-earned money. Your payment Gateway must provide you with round-the-clock services through your preferred mode of communication. Using a prompt redressal mechanism, the payment Gateway must quickly resolve the discrepancies.
10. Multifaceted Functionalities: A multifaceted payment gateway is referred to as a digital payment platform that is versatile enough to provide a wide range of services. Choose a payment provider that proves you with a decent range of payment options. Look for payment services with real-time efficacy, ready-to-use plug-ins, and access to multiple banks’ interfaces.

Pay10 is a leading payment Aggregator that believes in empowering its merchants’ businesses to receive payments through electronic mediums. We provide a wide range of payment options aiming to satiate your customer’s needs. With a web and mobile agnostic platform, Pay10 ensures easy integration for API Devices. Depending on the gravity of the situation our experts, try to serve in real-time, however, our usual turnaround time for response is less than 24hrs. We strive to be the 360-degree trusted online payment platform. We effectively focus on t continuous commitment and robust partnership with customers, across boundaries for an incomparably excellent customer experience. For any payment-related concerns and information, you can connect with us through our official website.