Payment Gateway Providers Make Online Businesses Convenient

SZCZYTNO, Poland - May 30, 2022 - PRLog -- Payment Gateway Providers Make Online Businesses Convenient

Online payments have become a crucial part of our daily lives. Because we are paying online not only via debit or credit cards but many other modes like UPI, net banking, and eWallets as well.

Paying online is an essential feature that every eCommerce platform offers around the globe. And they can deliver this facility by integrating with a payment gateway.

If you are establishing an online business or selling products or services from your website. So, you will require a payment gateway provider to get payment services and accept payments from your customers.

What is a Payment Gateway?

A payment gateway refers to a payment service that processes verify and receives online payments or credit card processing based on merchant business structure.

It acts as a mediator that links your bank account to the platform where you want to transfer your funds. Moreover, it is a kind of software that permits you to perform an online transaction via different payment methods such as net banking, credit cards, debit cards, UPI, or many eWallets that are available these days.

The right payment processor is the key to an amazing checkout experience

The right payment processor is managing the cash flow in and out of your business. However, it is liable for not just managing the online payments but also providing the best user experience to your online customers.

Some of the main factors for shopping cart abandonment are directly related to the UX that users get from the payment gateways.

27% of customers quit a shopping cart when they found a complicated checkout process.

20% of customers do not trust the website in sharing their credit/debit card information.

7% of customers cannot find their desired payment method.

5% of credit cards are getting refused due to technical issues.

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