A Guide To The Top Payment Gateways For Your E-Commerce Website In India

Any eCommerce business relies on being able to transact over the web without worrying about being duped or robbed. In the beginning, eCommerce service providers created their gateways with restricted transaction modes. The need for a reliable, atomic, and instant payment platform has grown. Essentially, it aims to facilitate the exchange of money between eCommerce business owners and consumers.

A staggering rise in online shopping websites has also prompted the need for an effective payment gateway for e-commerce in India. The market is currently flooded with payment gateways that can be integrated with your website for a small service charge or a fixed monthly charge, depending on the numbeFr of transactions your web portal anticipates. The difficulty of finding the right payment gateway can be attributed to several factors. You must gain some understanding of how payment gateways work, current digital payment trends, and if the payment gateway you are speaking with has those features. Here you will find answers to all your questions if you are also looking for the best payment gateway for your company. It does not matter how great your business idea is or how efficient your e-commerce store may look or function, achieving your ROI goals depends on the ease of transactions experienced by your customers. Your e-commerce store visitors can be reassured that your store is trustworthy by utilizing a payment gateway or mobile wallet.

Payment gateways can lead to bad payment options, ultimately resulting in a decline in sales. Servers can also make it difficult for your payment gateway to function smoothly. Customers can make fast and secure payments using a payment gateway, ensuring smooth cash flow.

To set up an online store, all you need is an eCommerce website builder and excellent payment gateway integration. By integrating a payment gateway, you ensure a smooth cash flow for your business.

How Does E-Commerce Payment Gateway Work?

  • The payment transaction begins once the order has been confirmed by the customer. Upon entering their card information, they are redirected to the final checkout page.
  • Payment gateways encode the transaction information and deliver it to banks for authentication once the information is captured. After this, the customer is informed whether the transaction was accepted or rejected by the payment processor.
  • Payment gateways transfer money directly from customers' bank accounts to merchant accounts through a secure network.

Everything You Need to Know About Payment Gateways

A payment gateway allows customers to easily pay for items at e-commerce stores via their credit card. During the payment process, data is encrypted to ensure security, and some companies automatically add tax if there is a suspicion of fraud. A payment gateway operates as follows:

  • Customers place orders by entering their bank card information and clicking "pay now".
  • To ensure privacy and security, the customer's web browser encrypts their debit/credit card information using a secure socket layer (SSL).
  • A payment gateway receives information from a merchant using SSL technology.
  • The information is passed on to the relevant payment processor by the payment gateway.
  • Afterward, the payment processor will send this information to a banking card association.
  • Payment gateways will receive any responses received.
  • The payment gateway will let both the customer and the business know whether the transaction was approved.
  • As a result, the merchant submits all approvals in the batch form to the bank card company later.
  • Payments are sent to the merchant by the credit card company.

The Best Way To Integrate Your E-Commerce Website With A Payment Gateway?

It is first necessary to distinguish between integrated payment gateways and hosted payment gateways. The integrated options provide your eCommerce website with an API users can use to connect to them. To put it simply, you serve your customers right there on your site without sending them elsewhere. As far as your conversion rates are concerned, it cannot harm them.

You are also responsible for ensuring data security and ensuring your customers' data is protected. If you want most integrated gateways to work, you'll probably need some development performed by a professional programmer, as it's quite a task.

Your website no longer handles the transaction as it's handled by a payment platform's processor.

In this case, you can breathe easily without being responsible for any private data or PCI compliance. PayPal operates in this way, for example. There are some drawbacks in this type of gateway, too, as some customers don’t trust third parties and the fact that you likely don’t want your customers to have to leave your website to complete a payment, as this lowers the conversion rate.

Check out these best eCommerce payment gateways in India:

Cashfree
Feature Highlights :

  • Annual maintenance is free
  • More than 32 international currencies are supported
  • Both iOS and Android devices can be integrated
  • This feature lets you view your revenue report along with your unsettled and settled payments.
  • Various eCommerce CMS systems are supported

PayU
Feature Highlights :

  • More than 150 payment methods are supported
  • 24/7 customer service
  • The system integrates directly with most banks and networks
  • Compliant and secure
  • Supports multi-currency international payments
  • Plugins and extensions for popular eCommerce platforms like Shopify, WooCommerce, etc.

Razorpay
Feature Highlights :

  • It charges Zero withdrawal fees.
  • It Supports 100+ payment methods, including UPI, payment wallets, and international cards.
  • They provide 24/7 customer chat support, which is quite significant for online store owners.

PayTM
Feature Highlights :

  • Supports both domestic and international cards
  • Zero withdrawal fee
  • Zero Setup and Maintenance Cost
  • Real-Time Bank Settlement
  • A dedicated key account manager is provided for customer support

Verifone
Feature Highlights :

  • Supports up to 15 international languages
  • Supports 87 international currencies
  • Allows users in managing the automatic renewal process
  • Support Shopping cart integration with almost all the eCommerce platforms available in the market.
  • Provides several webhook options, which helps the merchants to connect the web storefront easily.

CCAvenue
Feature Highlights :

  • With the dynamic switching transaction feature, CCAvenue ensures the bank’s gateway performance’s highest success rate.
  • Supports multiple currencies.
  • Allows you to generate invoices.
  • Secure and compliant
  • Provides multi-currency support for international payments
  • There are several plugins and extensions available for popular eCommerce platforms like Shopify and WooCommerce