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WHAT IS AN E-COMMERCE PAYMENT SYSTEM?

An E-COMMERCE PAYMENT SYSTEM enables customers to perform transactions while buying services and goods through an electronic medium. Also termed as an online payment system, this method has grown extensively over a while as more and more people are buying online and performing transactions using these electronic payment systems. From businesses that require cost-effective solutions, this is one of the best integrations one can do.


One of the most profound advantages of an electronic payment system is that it requires no use of checks and cash. The sole purpose behind this online payment technology is to promote and ensure safe and fast online payments with customers and merchants, at a very cost-efficient price.

HOW CAN YOU USE THE E-COMMERCE PAYMENT SYSTEM?

●     By the use of Card payments, ie. For debit cards and Credit cards, one can perform a transaction while buying something online by entering details such as their card number, expiry date, and CVV. The mechanism performed during this system transaction is secure and takes place between you and your merchant (buyer).

●     One can also make a transaction through net banking, E-wallets, E-checks, Smart cards, and QR (Scan) Payments.

●     PAYMENT GATEWAY INTEGRATION is as essential as the payment system as it is needed to connect your shopping website with the bank to provide you with transaction services.

●     THE BEST PAYMENT GATEWAY is safe and secure while offering transactions in multiple currencies and also limiting the chances of any dispute.

 

●     The PAYMENT GATEWAY SYSTEM asks for customer details which include- credit/debit card number, expiry date, and CVV. It is used to exchange cash and make the online shopping experience faster and safer.

●     Now you must be thinking,

HOW IS AN E-COMMERCE PAYMENT SYSTEM SAFE WHEN ALL YOU DO IS GIVING YOUR ACCOUNT DETAILS? 

Breaking that question to you, card details including your CVV are absolutely in safe-secure hands through the SSL (Secure Socket Layer) encryption. Your browser and the merchant's web server get encrypted and eliminate any kind of third-party access.

This kind of Integrated payment gateway limits out the seller's payment card industry data security standard (PCI DSS) compliance obligations without redirecting the buyers away from their browsers and websites.


WHAT DOES THE BEST PAYMENT GATEWAY DO?


2.     Maintain records and authentic data of customers in the most secure format.

3.     Builds trust in customers and expands their mechanism to distinct e-commerce platforms while providing a seamless shopping experience.

4.     The mechanism is accepted and used on a worldwide basis as they work and globalize in an enormous market. The BEST E-COMMERCE PAYMENT SYSTEM accepts and supports multi-currency transactions.

5.     With an offer to access different payment options, they expand users and build engagement. From Credit cards and debit cards payments to net banking, mobile wallets, and UPI, buyers can opt for any method they are comfortable with.

WHAT ARE THE MOST FAMOUS AND GLOBALLY ACCEPTED PAYMENT GATEWAY PROVIDERS?

1.     AMAZON PAYMENTS

Amazon has been the most used e-commerce platform globally. With its fast services, it also offers the quickest e-commerce payment gateways methods in different currencies.

This immensely popular payment gateway provider was created in 2007 for the sole purpose of making online shopping easier and accessible to all. It offers the usual payment checkout methods which are secure and easy to use.


2. PAYTM AND GOOGLE PAY

Of Course the most preferred transaction service provider, it not only allows distinct payment options but is also associated with every type of website and e-commerce.

 No matter what type of website you are thinking of shopping from, these two payment service providers can be used while making any kind of transaction. While not only shopping, it is used to send and receive money from anyone around the world. Paytm 's distinct features allow users to access and pay - electricity bills, mobile recharges, and more.

 3.  PAYPAL

The longest established and best-known application for accessing online money transfer services, payment is accessible, fine to use, and is a secure PAYMENT GATEWAYS PROVIDER.

 

We hope that our blog has helped you to have a better understanding of the E-Commerce Payment System.


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