How does a Payment Gateway help in eCommerce business?
Anybody can start an online business with the existing technology and popularity of internet. An e-store can be set up with a wide range of products displayed; but the actual business is initiated only when a customer purchases an item and makes the payment. Therefore, payment plays a vital role in any business, so the most important thing to deal with when developing an eCommerce site is to choose an ideal and reliable payment gateway.
The following are the features that a good payment gateway should have:
• Should supports ‘Authorize & Capture’ and ‘Authorize only & Capture later’ feature
• Refund feature is a must
• Accept major credit cards
• Support multiple currency
• Allow retailers to cancel any unsettled transactions
• Generate reports to keep track of transactions