Payment gateway is a secure and convenient way to transact payments just like a merchant service which will help ecommerce sites to process payments made through credit cards and other such payment methods. Because it is an online payment gateway Dubai, it will definitely help you stay secure and make smooth transactions just like cash registers which keep track of each and every penny. Here is how payment gateway in UAE makes it safe and secure.
- Whenever you will make payment through a gateway, it will help you encrypt the information by encoding it for the seller and payer’s personal use. This will stay exclusively between you and them and no one else will be able to access it.
- When you receive the approval to process the payment from the credit card company or financial institute authorization request occurs which will then let you proceed with the payment.
- After this process, final payment will occur with authorization and the website will be able to take the next action with proper security on both sides.
This is just one of the many other actions which payment gateway is capable of doing. Other than securing payment this helps with screening orders and storing complete information of every payment, calculating taxes as per the cost and payment and sometimes it even helps you with location specific tasks by using geolocation.
You must also be familiar with the term processor along with payment gateway. Even though the work they do is almost similar but there is a slight difference to be accurate. Analyzing the transmitted data is the job of a payment processor. This can include a variety of information which can be shared with the issuing bank or financial institutions such as credit card or debit card number which the key component is linked to the bank account.
A processor can be efficient in handling the payment solely through digital and hardware component just like payment gateway. Processor is the one which swipes the card and then collects the information to be passed on to the bank which issued the card.
There are different was through which this payment gateway can help your ecommerce business succeed with safe and secure transactions. This way no payment will be lost and instead you will be able to work with it easily.