The Flag of the United States of America

Opportunities of Having Payment Gateway Integration

woman checking online for recipes

A payment gateway is a technology that helps merchants accept payments via customers’ credit cards, debit cards, or ACH debit. It provides services for both e-commerce stores and businesses with the physical stores by facilitating secure digital transactions. It is obvious that online businesses and brick-and-mortar stores should invest in the technology that supports the payment gateway. It helps merchants to protect their business from liabilities and welcome more customers by accommodating all payment methods.  

What is Payment Gateway Integration? 

A payment gateway is a service that authorises and processes payments in online and brick-and-mortar stores. A gateway serves as a portal to facilitate transaction flow between customers and merchants. It uses security protocols and encryption to pass the transaction data safely. The data is transferred from websites/applications/mobile devices to payment processors/banks and back.  

Payment gateways can function the following types of transaction to accept electronic payments and be able to process credit/debit cards or ACH debit: 

  • It is able to check if a customer has enough funds to pay. It does not include the actual money transfer. Instead, during authorisation, a merchant ensures that a cardholder can pay for an ordered item. An authorisation transaction is used for orders that take time to ship/manufacture. 
  • Payment gateway can Capture the actual processing of a previously authorised payment resulting in funds being sent to the merchant’s account. 
  • It makes a regular payment for immediate purchases, like a subscription purchase, or e-tickets. 
  • It helps the merchant to process refund payment processing to return the money when any order is cancelled for a merchant. 

Thus, Payment Gateway is the service that automates the payment transaction between the customer and merchant. It is usually a third-party service that process, verify, and accept or decline credit card, debit card, and net-banking transactions on behalf of the merchant through secure Internet connections. 

woman adding card details online

What are the Opportunities of having Payment Gateway Integration?  

CloudBanking payment gateway authorises payments for retailers in all business categorisations. We ensure that sensitive information, such as credit card numbers, entered a virtual terminal or on an E-commerce website, are passed securely from the customer to the merchant and from the merchant to the payment processor through the use of encryption. 

Using a payment gateway for your business is the only way to go to stay competitive in a highly competitive field. Here are some opportunities that a payment gateway can provide to your business: 

  • Broaden the Audience

At the rate e-commerce is growing, customers can easily be snatched away by competition that provides a more convenient shopping experience. Customers are now more comfortable than ever with purchasing products online. CloudBanking payment gateway provides a positive platform as transactions are quicker and more secure. When you offer different means of online payment that secures a wider sector of customer demographics, you are bound to get more customers. ​

  •   Quicker Action ​

The rate at which transactions are finished is of utmost importance. Manual payment methods are becoming out of fashion. Payments based on checks, carry too many problems with them like insufficient funds and taking too long to be verified. Online payment gateways ensure that all transactions are instant and verified on the spot. ​

  • Saving Time and Effort ​

The digital world thrives on efficiency and saving time. You do not want your employees to waste a big portion of their time making back and forth trips to the bank. Digital payments are recorded instantly, and you do not need to keep an old-fashioned ledger to keep track of your payments. Reducing the time, it takes to finish transactions allows you to allocate time to other important tasks. ​

  • Fraud Management ​

Receiving online payments is more secure and credible. CloudBanking innovative technology system monitors your payments and keep an eye on suspicious transactions. Our system is able to receive payment before completing the purchase, which helps reduce the hassle of fake and bounced checks. Online payment gateways allow you to protect your business and your customers, which consequently raises your credibility and reliability. ​

  • Marketing ​

The use of a virtual terminal is a marketing strategy that boosts your sales by using online payment gateways. This can help in building the reputation of your business by providing a convenient way to take payment, whether your customer swipe, dip, or tap. It is a win-win situation for both business and its customers. ​

Conclusion ​

CloudBanking payment gateway is a technology that connects merchants to payment networks.  It captures the customers’ payment details and sends that information to an acquiring bank for approval and then sends the bank’s response back to the website. At CloudBanking, we provide more function, such as: ​

  • PCI Compliance to avoid fines. ​
  • Recurring bills on a subscription-based pricing scheme. ​
  • Notifications to verify transactions. ​
  • Payment information storage so that your customers do not have to re-enter their personal information. ​
  • Virtual terminal imitation physical credit card terminal for convenient input. ​
  • Encryption for high levels of security for sensitive user information. ​
  • Integration with other tools like accounting software or shopping carts. ​

CloudBanking consistently develops new resources and the best tools to make it easier for you to avoid fraud and disputes. Visit us now or call +1 415.223.8459 for more information. ​

inquiry

    © Copyright 2020 CloudBanking Ltd. All Rights Reserved.

    ecommerce pricing comparison table

    pricing comparison table

    ACCOUNTING SERVICES

    Run fast, accurate, and automated accounting processes through Cloud Banking’s white label portal for accountants. Simply ask your customers to log on to your dashboard so you can download all their statements and reports—making it easier for you to do their taxes. Likewise, you can make sure that our platform can help you streamline everything from financial consolidation to compliance reporting and audits.

    Our innovative payment solutions can easily be integrated into your existing accounting, invoicing, and billing software so you can get paid faster and more secure. Interested? Start by talking to one of our business specialists today.

    HIGH RISK

    Are you in the high-risk vertical market? Getting tired of looking for a reliable payment solution for a high-risk industry? Don’t worry! CloudBanking got you covered.

    We understand that banks and low-risk providers may instantly turn down merchant accounts who they deem industries with a history of high chargebacks, irregular high ticket sales, or that are highly regulated. Thus, finding a high-risk payment processing solution that keeps high-risk businesses running efficiently might be a daunting, frustrating process. This is all the more true for the CBD oil industry. However, CloudBanking understands that your business model works for you. We believe in your business’ desire to help the community and we’re committed to providing top-rated services.

    Thus, we go the extra mile to ensure your business’ security and efficient cash flow. We provide tailored solutions and features because we understand your unique needs. You can now offer your customers a smooth and seamless journey with our innovative payment solution for high-risk industries.

    HEALTH AND WELLNESS

    Focus on what matters most to your business—your customers. And allow CloudBanking to take care of your payments. Our payment solution for the health and wellness industry will be your trusted partner in improving your customer experience. With our innovative platform engineered to accept all kinds of payments and provide the security, you need; we can guarantee you streamlined business operation.

    In the ever-changing global marketplace, make your business at the forefront of innovation to give your customers the best customer experience. Trust that our payment solution for health and wellness is here to help you meet your customers’ expectations while improving your cash flow. Contact us today to experience the difference.

    FIELD SERVICES

    Are you one of the small or mid-sized businesses in the field service industry having trouble collecting payments? And are you tired of all the waiting and hassles? Then, it’s time for you to adopt a phone- and cloud-based payment solution for field services that will improve your cash flow and accuracy. Allow your field services staff to accept payment on-site so they can focus on the next job.

    Level up in the game field by offering a cutting-edge payment solution for field services that will assist you in meeting your needs and improving your bottom line. Contact us to know how we can be your trusted partner in getting paid faster and secure.

    RETAIL

    The retail environment has evolved rapidly in the past years. To keep with the pace and increase your bottom line, you need to integrate a platform providing a full suite of card payment systems that fully satisfies the needs of you and your customers. CloudBanking’s payment solution for retail industry is here to help you stay in the game and be more competitive.

    Powered with the latest technology, our credit card processing solutions allow retailers to accept any form of card payments such as credit cards, debit cards, and EMV-compliant cards. Our payment solution for retail industry can help you effortlessly manage your point-of-sale transactions while you boost your retail sales.

    PROFESSIONAL

    CloudBanking offers a customized payment solution for professional services companies, such as law firms, insurance agencies, and accounting firms. Our platform is designed to provide you a safe, convenient, and secure way to accept your service fees and lessen the administrative cost related to payment processing.

    We understand that your business’ payment processing needs are unique. So you can’t just rely on any payment processing platform to manage your cash flow. You need a trusted partner to receive payments fast, secure, and easy. Enjoy this hassle-free process when you integrate our payment solution for the professional services industry.