Accepting payments online is vital for businesses of all kinds, and one of the most popular payment methods is a payment gateway. Companies increasingly rely on this secure solution to connect customers and bank accounts. The payment gateway integration ensures fast and secure payment processing for online purchases or subscription services. The worldwide payment gateway market was estimated at $26.79 billion in 2022 and is expected to grow at a CAGR of 22.2% between 2023 and 2030, indicating a growing reliance on safe and efficient online payment methods. Therefore, for enterprise owners, integrating a payment gateway smoothly is a key step to ensuring customers have a hassle-free experience while keeping their operations running efficiently.
Why does this matter? A well-designed payment system can lower the likelihood of customers abandoning their purchases, increase trust through secure transactions, and make it easier to expand your firm. So, whether you’re a new start-up or a modest eCommerce business venturing into new territory, this blog will provide clear insights to help you succeed. In this article, we’ll look at how to add a payment gateway integration in website or app and critical factors like security and usability.
What is Payment Gateway Integration?
Payment gateway integration links a payment system to your website, app, or other platform so customers can pay you online. This process, which is sometimes compared to setting up a virtual cash register, entails confirming consumer payment details and ensuring that the funds reach your account safely. Every time someone clicks “Pay Now” at checkout, the procedure is frictionless and completes in a few seconds.
Did you know that the global e-commerce sector is predicted to exceed $8 trillion by 2027? This tremendous growth potential creates numerous chances for businesses. As a result, organisations must capitalise on current trends and plan on how to establish and handle payment integration in the future. In addition to exploiting the trend of payment gateway integration, it provides additional benefits. Such as:
Top Benefits of Payment Gateway Integration in Website
Payment gateway integration provides numerous benefits. From higher safety to increased sales, it’s a tool that may completely revolutionise your business’s operations. Let’s explore them further:
- Security First: The gateway safeguards consumer payment information to lessen the likelihood of theft and fraud.
- Customer privacy: Customers like the convenience of several payment options, such as bank cards and mobile wallets, while making purchases.
- Scalability and Flexibility: Your firm can grow by creating a payment system to manage more sales.
- Time-efficient: The automatic payments feature provides real-time data and minimises the workload of your business operations.
- Increased sales: It’s simple: when customers can buy online without fuss, they’re more likely to finish the transaction and make repeat purchases.
How do integrated payments work?
Integrated payments integrate numerous payment and financial services to share information. For example, if an online shopper wishes to buy a new sweater, an integrated payment system collaborates to conduct the transaction with minimal delays.
- The customer adds the item to their cart and enters payment information using an integrated checkout, which keeps them on your website.
- The checkout transmits payment information to a payment gateway, which then processes it for verification.
- The gateway receives payment permission (or rejection) from the customer’s bank and routes it back to the checkout.
- The checkout process confirms the transaction and completes the order.
If this were not an integrated payment, the customer would be directed from your site to a third-party checkout to provide payment information. The customer would then return to the checkout screen to confirm the order. These extra steps complicate the process, potentially discouraging customers and increasing the likelihood of payment failure and other issues.
Do you need an integrated payment system?
Any business that accepts digital payments can benefit from the efficiencies of an integrated payment system. But there are five signs you should consider before making a switch:
- Customers commonly abandon their carts because the payment process is complex or occurs off-site. An integrated payment system may make checkout easier, keep customers on-site, and increase conversion rates.
- You spend a significant amount of time manually reconciling transactions. An integrated payment system helps streamline the process, saving time and avoiding errors.
- You’re expanding worldwide and require an integrated payment system that can grow with your company by providing a broader selection of payment options. You also want a dependable provider who can handle large transaction volumes.
- Your business is expanding, and a basic payment processor may struggle to accommodate the rising transaction volume. An integrated payment system may grow alongside your organisation.
- To secure client data, you wish to increase payment processing security by implementing an integrated system with advanced security features, such as tokenisation and encryption.
From customer experience to business security, all-in-one integrated payments may simplify operations for any company wanting to solve these issues.
Payment Gateway Integration Steps to Follow
You must first identify your ideal payment service provider to get started with integrated payments. End-to-end providers, such as SabPaisa, are excellent. We offer a Business Account, a payment gateway and processor, and customisable payment solutions ranging from low-code checkouts to robust APIs that allow you to scale.
Setting up integrated payments is simple once you’ve found a PSP you like, such as SabPaisa.
- Open an account with the chosen provider. This often entails giving basic business information and undergoing a verification process. Set up your business profile, including payment methods, currencies, and other options.
- Integrate the payment provider into your systems. Choose whether to use pre-built integrations (if available) or create a bespoke API integration. Collaborate with your development team to integrate the payment provider with your current systems. Use the provider’s sandbox to test the integration thoroughly.
- Set payment methods and rules. Configure the payment methods you want to accept, including credit cards, bank transfers, and digital wallets. Set transaction routing rules to optimise cost, speed, and success rates.
- Before launching your new payment integrations on your website and other platforms, test them to detect and resolve any difficulties. Monitor transaction performance, success rates, and potential issues, then update your payment system to improve performance and user experience.
Streamlined payments with integrated solutions
Integrated payments are ideal for streamlining financial operations, increasing security, and improving the consumer experience. SabPaisa’s Payment Solutions may help you quickly enhance the customer experience, generate revenues, and optimise your business operations while providing superior security features.
SabPaisa can also scale with you as your company expands, handling more significant transaction volumes while supporting numerous payment methods and currencies as you grow into new geographical areas.
Beyond payments, SabPaisa offers various financial options, such as multi-currency accounts, foreign exchange, and transfers, to help you optimise your financial operations.
FAQ’S
- What is payment gateway integration? Payment gateway integration connects your website/app to a payment processor, enabling secure online transactions. It verifies payments and transfers funds to your account seamlessly.
- Why is payment gateway integration important? Offering multiple payment options boosts security, reduces cart abandonment, and enhances customer trust. A smooth checkout process increases sales and operational efficiency.
- How does an integrated payment system work? Customers pay on your site, the gateway encrypts data, checks with the bank, and confirms the transaction—all in seconds—without redirecting to third-party pages.
- When should a business switch to integrated payments? If you face high cart abandonment, manual reconciliation, global expansion, or scaling challenges, integrated payments streamline operations and improve security.
