Why a Payment Gateway Is Crucially Important for Your Online Business

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Why a Payment Gateway Is Crucially Important for Your Online Business

Payment gateways are a crucial part of the e-commerce industry, which reached $759.47 billion in 2020, witnessing a nearly 32% increase from the previous year. All this money goes through payment gateways that process, verify, accept, or decline credit card processing or direct payments on behalf of the merchants.

Payment gateways rely on secure internet connections and are a crucial part of the payment process between the merchant and the customer. It helps facilitate online transactions that are then approved by the issuer bank, ensuring a smooth transaction of money from the buyer to the merchant.

A payment gateway is crucial to the e-commerce industry as it aids in transferring the information regarding a transaction between the front-end processor or bank and the payment portal.

Payment gateways rely on special encryption and verification technology, as online shopping relies on distance and anonymity. It helps in ensuring the legitimate transactions are securely transferred to the processor.

Why Your Online Business Needs It?

Using payment gateways is beneficial for an online business for more than one reason. It helps lessen the frequency and severity of credit card fraud within the e-commerce sphere. Identity theft crimes have risen by 113% between 2019 and 2020.

Moreover, there were 393,207 instances of credit card fraud reported in 2020 alone. Therefore, payment gateways are crucial as they allow merchants to process debit, credit, and other alternative payments safely and securely.

Since payment gateways act as the go-between to ensure that the customer data is secure and encrypted, they can significantly reduce the risks of your online business’s customers facing the risk of credit card fraud.

Moreover, most online retailers use a payment gateway, which means it is easier for merchants since most online shoppers are already familiar with the technology. Using payment gateways will also allow your customers to stay on your site without troubling pop-up pages.

Merchants get to control and customize their checkout pages as they like, which further increases convenience for them and their customers.

Ecommerce, Selling Online, Online Sales, E-Commerce

Getting the Payment Gateway

Payment gateways are not just beneficial for your customers, but they also protect your online business from fraud. It’s important to look for PCI compliance and SSL certificates when looking for the right payment gateway. This is crucial for businesses to avoid cyber security problems.

Choosing the perfect payment gateway for your business can also be the determining factor for the success of your online business. Above all, merchants should know why they choose the payment gateway and what services the payment gateway provider offers.

When finding a suitable payment gateway, you should consider what features you will get for your business, the pricing, and other things that need to be considered regarding payment integration.

Contact CardLogic Systems For Your Payment Gateway Solutions

At CardLogic Systems, we are a payment processing company that offers online payment processing solutions for online businesses. We provide an online payment gateway for small businesses as well as personalized POS solutions.

We offer features such as real-time reporting, recurring billing, PCI compliance management, encryption, tokenization, customer service, and much more.

Get in touch with us today to learn more about how we can help you. Give us a call at 404-795-2187 for more information, or drop an email at info@cardlogic.net.

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