5 Things Developers Should Know About payment Gateways
A payment gateway is a credit card terminal to your website The major role of a payment gateway is to transfer the transactions from website to the processing bank (for its approval) and thereon return it to the same website so that the transaction can get completed. The whole system that involves complex procedure is based on website’s programming.
The increasing competition in the field mandates web developers to be well versed with the every aspect of payment gateways in order to grab good business. Missing out on the slightest of details can send your customers off to other web developers, available in abundance in the market. So, here are for you some very important points you must know.
Payment Gateway Doesn’t Administer Orders and Authenticate Data
It’s the function of the shopping cart and not the payment gateway to keep track of the purchase orders. Also, the validation or authentication of the data is for the website’s programming system to look after and not payment gateway’s. It’s at the end that the information is passed to the payment gateway. So, it’s worthless to involve payment gateway with managing of the orders.
Connectivity with the Banks
A web developer should know the number of banks with which the payment gateway is related to. Generally, the more the number of banks an online websites has transactional relationship with, the better it is for their clients.
Payment Methods
A web developer should know about the methods of payment that the payment gateway accepts. Similar to the connectivity aspect, more the flexibility or greater the number of ways the payment gateway accepts, the easier it is customers to make payments. A developer should know well the different payment gateways acceptable. These include credit cards, debit card, pay pal, mobile payments, stored value cards, and a few others.
Security Offering
This is something every web developer involved in creating e-commerce website for his client must know in detail. Amounting to frauds prevalent in the market, security of the customer information has to be the priority of every web developer. Web developers should know in advance what a particular payment gateway offers. If the security system offers 3D Secure Integration or something else. It’s important that the payment gateway is fully secured. Loopholes have no place in such a system, and a single mistake and cost the clients and their customers heavily.
Tokenization
There is a technology where a retailer can still offer one-click payments without making use of or storing card details. This is done by using an encrypted token that is instead issued by the payment gateway and can be used repeatedly. Web developers should know if a payment gateway can provide tokenization feature and if yes what are the security measures used by the website to prevent the leakage of important cards information.
Lastly, a payment gateway only connects to the merchant’s website so that it can route credit card transactions and it is not a merchant account in itself.
There are still lots of other important points a web developer should take a note of regarding payment gateways but these 5 top the list. Do remain updated with whatever is new and implement the same in projects you undertake.
