Digital modes of payment in the present times are not only simple but also accessible, thanks to advanced technology. Security can be a matter of concern in the case of online transfers. The payment gateway is what enables secure transactions- money transfers, mobile payments or foreign currency transfers.
The payment gateway is the name given to the technology which reads customers’ cards and sends the information to the bank to process for payment. An important element of electronic payments, the payment gateway authorizes transactions by transferring information between a payment portal and a bank. The portal may be an on an e-commerce website, a mobile app or IVRS. Without a doubt, the best online payment gateway is the one that allows businesses to accept, disburse and process payments digitally.
The right payment gateway for a robust business.
Choosing an appropriate payment gateway is extremely important since it enables the business to maintain robust cash flow. Payment gateways are generally integrated with several banks and offer multiple payment options like a credit card, debit card, IMPS, mobile transfers, etc. While carrying out a digital payment transaction, the payment gateway is the first step.
Payment gateway service providers also offer more features like processing multiple currencies and in-app integration and value-added services like keeping track of bills and informing users about the due date so that they don’t have to undergo the hassle of standing in queues to pay bills, and can do the same with just a single standing instruction to the bank. In short, simplifying payments is what payment gateways work on.
The payment gateway for online merchants has slightly different technology as compared to brick and mortar stores while the transaction process does not vary at all. Websites need APIs (Application Programming Interface) to enable the payment gateway to function, while brick and mortar stores need POS (point of sale) terminal to connect via an internet connection or a phone line.
Keep your data secure with the right payment gateway service provider
Security is critical to payment gateway since it involves the transfer of sensitive data which must be kept safe from fraudulent interventions. There is a set of security standards and rules that must be mandatorily followed by any party that has access to the card information, and that includes payment gateway too. This set of security standards and rules is known as the Payment Card Industry Data Security Standard (PCI-DSS).
The HTTPS protocol is followed to ensure that the information is communicated securely between the parties (merchant, customer, and bank). Payment gateways also help exchange currencies, as well as bridge payment methods and languages. Merchants are required to spend for setting up a payment gateway, as well as for every transaction. Fraud protection is offered free of cost.
A good payment gateway is one that that cuts down on the load time, offers multiple payment options and has the least possible technical glitch. A payment gateway may redirect the customer, may allow checkout on-site and off-site payment or allow on-site payments.
Jenga payment gateway, developed by Finserve Africa, is a payment gateway that has all the essential features of a good payment gateway. Integrating this gateway is simple, and very reasonable for businesses. It has stringent security measures and is easy to operate too. Jenga means to build, and Finserve has built the gateway to help build the business landscape in Africa and make it a force to reckon with in the world.
goAfrica, the London-based e-commerce website has fully integrated Jenga payment gateway to enable buyers in Africa to buy from merchants in other locations and pay for their purchases swiftly, securely and conveniently. goAfrica focusses on B2B customers and integrating Jenga payment gateway is a move meant to offer a payment platform for online purchases and sales.