Payment gateway
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1. An online payment gateway is a secure portal that allows merchants to accept electronic payments from buyers through various payment methods. It transmits and processes card and account information to complete online transactions. 2. Merchants who sell goods or services online and buyers who make purchases online both need an online payment gateway to facilitate payments. Payment gateways also allow any parties to make online monetary transactions. 3. Popular security methods used in payment gateways include Secure Socket Layer (SSL) encryption and Secure Electronic Transaction (SET) protocols, which encrypt payment details and digital certificates to prevent unauthorized access to financial information.
Payment gateway
- 1. Payment Gateway By:- Piyush Dua 13CA1005 BCA 3Rd Semester
- 2. What Is an Online Payment Gateway? • A secure portal on the World Wide Web that allows merchants to accept electronic payment via various payment modes. • It transmits and processes card and/or account information to complete online transactions.
- 3. FLOW OF PAYMENT PROCESS
- 4. Who Needs an Online Payment Gateway? Merchants Sell goods/services online and accept payment online Buyers Pay for purchases offline and online Any Parties Make online monetary transactions or receive payments via online means
- 5. Payment Gateway Integration:- • Payment gateway integration requires a little bit of work. It is a software application that needs to be stored on your server. This means that you may need a little more bandwidth and/or disk space. Check the requirements of the payment gateway to make sure that your current hosting package will be able to handle the increase in technical requirements. • Another thing you will need to do is make sure that the payment gateway is compatible with the programming language used on your ecommerce Web site. Check to find out whether you are using one of the following: ASP or ASP.NET Perl/CGI PHP (rather popular)
- 6. Visual Basic .NET • Make sure that your payment gateway uses the same language as the rest of your Web site, so that they fit together well. Additionally, you will need to find out what sort of fees and costs are associated with payment gateway integration and service. • Go To Your gateway official site & • Obtain Merchant ID, Working Key, Integration Plugin • Upload the Plugin to your Server • Furnish it with details of Merchant ID, Working Key Payment Gateway Integrated
- 7. Advantages of an Online Payment Gateway for Customers • Ease of Use User-friendly payment interface Secure One-Time- Password feature Convenient 24-hour shopping worldwide
- 8. Security Methods Used In Payment- • Secure Socket Layer (SSL) • Secure Electronic Transaction (SET)
- 9. Secure Socket Layer (SSL) • SSL automatically encrypts data passing between consumer’s Web browser and a merchant’s server. • An online protocol that encrypts transmitted information to prevent unauthorized interception and theft
- 10. Secure Electronic Transaction(SET) Protocol • SET software encrypts a digital envelope of digital certificates specifying the payment details for each transaction. SET is expected to become the dominant standard for secure electronic payments on the Internet. • Open standard for E-Commerce industry • Developed & offered by Master Card & Visa • Facilitates and encourage improved security for credit card transactions
- 11. IVR Payment • IVR ( Interactive Voice Response) System is also being used for making payments using phone as providing credit/debit card information using DTMF is easy and can be done on the move without any computer and internet connection. • In most IVR payment gateways use outbound dialer to process the transaction. As soon as a person makes a purchase, IVR will make an outbound call to the registered phone number ( first level of security), announces the purchase details and asks him to confirm the purchase by pressing a key. When a purchase is confirmed, the user is asked to enter the numeric password ( PIN ) and on correct PIN, the transaction is completed by charging the credit/debit card.
- 12. Advantages Of IVR Payment- Using IVR payment gateway, one does not need a PC and internet connection to make any purchase or making payment. One just needs a mobile phone or telephone number. Since mobile phone or telephone number already is considered proven identity, it may serve the first level of security. In developing countries like India, where internet and PC penetration is low, IVR payment gateway can help grow e-commerce as owning phone is cheaper than owning a PC and internet connection. Also, internet connection may not be available all places all the time. So, people can use their mobile or land line phones to make payments using IVR payment gateways.
- 13. Drawbacks of IVR for payment gateways Providing credit card details may be a tedious process for first time users. Also, apart from numeric PIN, it does not provide any other security. PINs are transmitted using DTMF which can be easily decoded. With explosives growth of mobile phones, IVR payment gateway is logical extension for making phones more useful.
- 14. Mobile Payment Gateway- • Mobile payments is a mode of payment using mobile phones. Instead of using methods like cash, cheque, and credit card, a customer can use a mobile phone to transfer money or to pay for goods and services. A customer can transfer money or pay for goods and services by sending an SMS, using a Java application over GPRS, a WAP service, over Android Mobile applications. In India, this service is bank-led. Customers wishing to avail themselves of this service will have to register with banks which provide this service. Currently, this service is being offered by several major banks and is expected to grow further.
- 15. Challenges for Mobile Payment Gateway in India • Poor levels of literacy are a problem, and voice-based services offer a potential solution. Voice-based solutions, especially in local languages, have two major benefits: they can work on all handsets and can be used by all irrespective of one’s comfort level with technology or level of literacy. • The mobile financial services have to be effective in terms of usability, cost, efficiency, interoperability and security for transactions of all ticket sizes. • M-payments options should be available even on low end mobile handsets.
- 16. Popular Gateway
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