Doing online business nowadays is choice of most of the business holders by using eCommerce websites. Making sales through eCommerce website is said to be successful when seller offers error-free commercial transaction process to customers. Good functioning of shopping cart and payment gateway systems are most essential aspect of successful eCommerce websites.
Process of buying & selling online is almost the same in using ecommerce website, on part of seller; services should be superb through ecommerce website from beginning to end. As soon as customers select products after reading product details, terms & conditions and include those to shopping cart. For the payment of amount number of options of payment gateways should be available in ecommerce website for the customer’s convenience. To provide more satisfactory services in matter of payment smart seller should provide number of modes for the payment of products by keeping in mind that customer might be global.
After application of all smart techniques of selling an error-free, payment gateway system is most necessary element in eCommerce solutions to customers and successful seller always take care of this part. After entering credit card information or details these details use to encrypt on the cardholder’s web browser then safely transfer to merchant website, then from merchant’s server these encrypted details is extended to payment gateway on a secure socket layer encryption which is already connected with merchants processor to send back. After receiving information from payment gateway the merchant’s processor sends it to credit card interchange, further this information directed to issuing bank, then issuing bank sends details like notification code, status of transaction as well as failing reasons of transaction are sent back to cardholder. Along with this process remaining part of transaction is delivery of product and transfer of money to merchants account from accruing bank.
Providing various options of payment gateways is fruitful in order to render good services to customers but essential to know complete information about each of them. In providing ecommerce solutions payment gateway integration might be expensive for the seller such as transaction fees of the payment gateway varies in different gateways. Sellers should estimate the correct transaction cost on each sale, pre-calculations should be made for the custom payment gateway and seller should be aware about all the terms & conditions of using payment gateway. It is important to know by the end of seller that most of the payment gateway systems use to provide fraud prevention services such as AVS and CVV verification. Most of the credit card companies are offering this authentication procedure of CVV (card verification value) for the prevention of fraud practices, in the signature area of master & visa cards CVV is last three digit numbers just after credit card number. AVS (address verification number) used for the verification and identification of card owner.
Offering error-free ecommerce solutions such as payment gateway system for customers is critical without complete knowledge, to avoid further troubles regarding commercial transactions seller should be aware of complete and correct process of making payments.
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