eCommerce stands for Electronic Commerce, which in itself is a broad concept term for selling on the internet via a website, electronically. With the ability to process credit cards electronically on the internet, just about anything can be resold the Web. More and more people are buy online and enjoy the benefits of convenience and often lower prices (still no tax in most states). Online stores are often able to lower prices because they are able to eliminate overhead as having to pay employees to carry out one brick and mortar shop. In a print world like ours, convenience is that everything! The shipping times are so fast now that when an item is ordered it can often be online with the buyer threshold the next morning. You do not need technical skills because it is designed to give you all the tools you need. There are hosted and self-hosted versions depending on the needs of your store.
Payment gateways are important for your customers, because customers have doubts when buying something online. What is a payment gateway? It is a service provider who provides a payment authorization. In short, it is a software application connect a website to the bank, so that the customers can pay you there on the place without leaving their apartment. This ensures that an online business owner remains completely hassle-free for handling the payment via customers.
This one type of service can be used by anyone, including e-commerce websites, other services providers who want their users to pay online, and even non-profit organizations that collect donations online. There are many different ones payment gateways, including Stripe, PayPal, Authorize.net, Google Checkout and direct MasterCard / Visa payments. All have their pros and cons, and each takes specific commissions.
Your payment gateway can reassure your customer that you are legitimate, or put turn them off if you do it wrong choice. On the second part of the purchase, this one things are very important to your conversion rates, and so pay attention when choosing how dealing with payments is highest recommended.
If you want to accept payments, understand what a payment gateway is and how it fits in your business important. A payment gateway is the secure link between your eCommerce website and your commercial bank. For a bit important is the understanding of the consequences of accepting card payments - you are about to take high confidential customer information.
The gateway protects customer credit / debit map details by encrypting this information - such as the actual credit / debit card numbers - and makes this happen information is passed safely between the customer and the seller and the trader and the payment processor. Once the transaction is completed, your customer receives a confirmation mail and one on the screen message that ensures who made the transaction was successful completed. Payment gateways validate your customer bank details to complete each online transaction for the purchased product or service your e-commerce store.
Entity types looking for payment gateway integrations:
1) An individual trader, who wants to accept payments via the website.
2) A software developer, who makes websites of different species and looks for one universal solution to offer his customers.
3) A software company, working on a platform for customers who have to do that process payments (for example for groups of traders), such as a platform or an online one marketplace.