Payment Gatway.ppt
- 1. The Role of a Strong Payment Gateway in eCommerce Virbhadra Swami
- 2. PAYMENT GATEWAY • Presented byVirbhadra Swami
- 3. We love movies …
- 9. So what’s the best part of a movie?
- 10. And the climax in an online sales process is?
- 11. Why a Payment Gateway? • When it comes to running online business, the most important question is … “How will my customer pay me?” • If you don’t have an answer to that question, then you may as well as pack up and go home. • All the hard work of building your online enterprise will be in vain…
- 12. So how to choose a good payment gateway? 1. Payment Options: What payment options does the PG process?
- 13. “I accept just credit cards on my website and that is good enough for me …” “Sure …but be prepared to cater to a shrinking customer base.” Why ?
- 14. • Indians are uncomfortable about owing money! • So `non-credit’ based payment options are popular • Any safe method of debiting the bank account directly is welcome … Debit Cards/ Net Banking etc • New payment options like Cash Cards, Phone Payments are growing exponentially. So when the choice of payment options are in a state of flux… which payment gateway to choose? Simple … do what millions of Indians do …
- 15. Choose the payment gateway that gives customers the full Thali! It has something for everyone …
- 16. Choose the payment gateway that gives customers the full Thali! It has something for everyone …
- 17. Choose the payment gateway that gives customers the full Thali! A strong PG will provide the merchant with a wide array of payment options so that no transaction is lost because the customer doesn’t hold a suitable payment option.
- 18. What is Payment Gateway A Payment Gateway is an e-commerce application service provider that authorizes payments for e-business, online retailers etc. The gateway itself is simply a secure online link between the merchant and the customer’s bank. Sensitive information, such as credit card numbers, needs to be protected from fraudulent parties. Payment gateways encrypt the sensitive information such as credit card details to ensure that the information passes securely between the customer and the merchant.
- 19. Steps Involved Buyer initiates the purchase. Site Collects the buyer Info. Buyer is sent to Payment Gateway. Payment Gateway Collects the Credit Card Info. Payment Gateway handles the transaction. Payment Gateway verifies the purchase.
- 20. PRELIMINARIES OnlineCustomer: Entity who browses the e-commerce website and who will buy he products by making timely payments. Merchant:A merchant is the seller who will receive the payments made by the customer. Banks: there are two types of banks 1. Client Bank : It holds the clients account and validates the customer. 2. Merchant Bank : It holds Merchants account and is responsible for management and fraud control etc. PaymentGateway : A payment gateway is connected to all the customers, merchants & banks through internet and is responsible for speed, reliability and security of all transactions that take place.
- 21. Framework Overview: Payment gateway Online Customer Client Bank Merchant Bank Merchant
- 22. Categories of Payment Gateways: There are mainly two categories of PaymentGateways : 1) Hosted PaymentGateways 2) Shared PaymentGateways Hosted PaymentGateways: • Hosted PaymentGateways are those that direct your user away from your ecommerce website. • While making payments, the customer is redirected to the real gateway page by clicking the gateway link.This leaves merchants website for some time before returning back. • The benefit of these gateways is that you do not need a Merchant ID since no confidential details are needed from your website. Examples here include PayPal, WorldPay and Nochex.
- 23. Categories (cntd…) Shared Payment Gateway: • While making the payments, a customer is directed to the payment page and not out of merchants website. • Here, a Post form is used once one clicks on a payment link/button. • The payment page is maintained securely by the payment gateway. • After all details about credit card and other required fields are complete, the user fully gets back to the main website. • The main benefit is that one does not get away from your website thus fast and easy to use. Example of a gateway is eWay.
- 24. Security Is your money in safe hands? • Buying stuff online is easy, saves time and money, however there’s a risk involved. • Each time we pay for something, we input our credit/debit card details to a third party (other than our bank). And considering the virtuality of online medium and the risks associated with it, there’s always a sense of fear for online fraud. • The e-commerce platforms and banks tend to maintain a robust framework to securely carry out the transactions for the goods and services we pay for.
- 25. Security (cntd…) Data Encryption: • Data encryption is one of the main security method used in payment gateways. • Once you enter your card details in the payment gateway, it gets encrypted by using payment gateway’s public key and can only be decrypted by the payment gateway’s private key. • The gateway uses an algorithm which makes sure that no unauthorized party can decrypt the encrypted data when being transmitted through the network. • These algorithms usually follow symmetric (same key for encryption and decryption) or asymmetric (different key for encryption and decryption) cryptography to mask data so that unauthorised sources are unable to read or intercept it.
- 26. Types of Payment Gateways PayPal 2Checkout.com Amazon Payment Google Checkouts Securepay.com Authorize.net PayUmoney PaySimple
- 27. Payment Gateway Options PayPal is the granddaddy of payment gateways and helped to define online transactions. It was founded in 1998 and has grown to be one of the best and most popular payment gateways. It offers easy-to-use options to embed a button on your site or redirect to PayPal completely for payment. It features a rich API for more complex integrations. CCAvenue One of the largest payment gateways operating in Indian market. The platform incorporates more than 100 payment options and collects funds in over 27 different currencies. EMVANTAGE Another largely used payment gateway in the Indian market. It boasts of very high transaction success rates and offers users the choice of a wide variety of payment options like credit cards, debit cards, net banking, etc. Moreover it also lets them use prepaid cards like Rupay, etc.
- 28. Citrus Citrus is the well known name behind the innovative Citrus pay app to tackle everyday problem of Indian population ‘chutte nahin hai’. It includes a range of tools like Turbo checkout, Citrus Cash, Citrus Cube, etc. for end consumers to make their shopping experience more fun. Atom Atom has a client base of over 4500 companies and integrates more than 100 payment options and has executed 15 million plus transactions to date. The platform includes major credit cards services including MasterCard, American Express, etc, 50+ Debit Cards options and over 50 net banking options.
- 29. Amazon Pay is a unique option. It offers shoppers the ability to use their existing Amazon accounts to pay you. The flow goes like this: The user clicks the “Amazon Pay” button They log into their Amazon account The user chooses an existing payment method stored on their account They click to buy, and it’s all done Amazon Pay opens up multiple channels for your business. Customers can order items with voice, mobile, or social shopping. By using Amazon Pay, you’ll make your shopping experience better for millions of Amazon users.
- 30. Features of Payment Gateways Transaction & Network Security Secure with latest security technologies like SSL Fraud Screening features Reduces risk of theft and loss User friendlyAnd speedy in processing Support for multiple forms of Payment Time Saving Ease of use
- 31. Disadvantages of Payment Gateways Payment gateways highly depend on internet connectivity Lack of Anonymity Risk of being hacked Fees
- 32. Say hello to my force multipliers Built-in Shopping Cart Collect Invoice Facility Virtual Terminal SMS Order Alert Transaction Failure Collection Auction Collection Feature IVRS Payments Co-marketing through Bank Malls P2P Payments