Payment gateways in Kenya have never been easier to use, but they’ve never been a popular target for hackers and scammers. That is why it is critical to comprehend that the grade of your eCommerce payment gateways helps you safeguard against these attacks in real-time by providing an encryption buffer between buyer and seller.
High-quality payment gateways might also assist you in reducing load time.
What Exactly Is A Payment Gateway?
A payment gateway is a merchant service that accepts credit card payments for eCommerce sites and businesses. Consider the gateway to be the figurative cash register in an electronic transaction. It must be secure and easy to use, just like any other cash register. Most payment gateways accomplish this in a matter of seconds by performing the following steps:
- Encryption: A payment gateway will encrypt data between the user’s browser and the retailer’s server (encode for private usage) for exclusive buyers and sellers.
- When a payment processor receives authorisation to proceed with a transaction from a credit card company or financial institution, this is referred to as a request.
- Fulfilment: The website and interface can proceed once the payment gateway has received authorisation.
The payment gateway also performs other duties, such as order screening, tax cost calculation, and geolocation for location-specific activities.
What’s the Difference Between Payment Gateways and Payment Processors?
Payment “gateways” and “processors” may be used interchangeably. However, there are some key distinctions: A payment processor is responsible for analysing and transmitting transaction data. This involves sending pertinent information to an issuing bank, such as the credit card or debit card number associated with a bank account. This is distinct from the payment gateway, which performs the tasks above and authorises monies transfer between buyer and seller.
The processor is the process that “swipes” the card and sends the data to the card issuer. Like a payment gateway, a processor might comprise both a digital and a hardware component or perform the processing entirely through software.
Our Preferred Payment Gateways
If you’re looking for some of the more popular payment gateway service providers to consider, here’s one of the most popular.
PayPal is popular as a redirect payment gateway since so many clients rely on it — and there are numerous alternatives to explore. With over 377 million users, PayPal is undoubtedly a payment method your business should not disregard because your potential consumers may be a part of it. Furthermore, the service is free to join up for and requires only a valid email address, making it accessible to many people worldwide.
Factors To Consider When Choosing A Secure Payment Gateway
Once you know what to anticipate from a payment gateway, you can focus on picking your preferred payment gateway. You won’t have any trouble selecting a popular payment gateway that makes your shopping carts easy to use, so let’s concentrate on security.
Ask The Following Questions To Confirm You’re Working With A Secure Payment Gateway:
What Methods Of Payment Do Your Consumers Use?
One of the first questions you should ask is what payment methods your consumers are already utilising. You’ll have fewer hassles and security hazards if you stack your payment gateways and allow them to use a payment type.
What Is The Payment Gateway’s Fee?
eCommerce fraud can harm your bottom line.
What Is The Strength Of Their Encryption?
To be sure, you should only work with PCI-compliant organisations. The Payment Card Industry Data Security Standard (PCI DSS) is a set of guidelines devised to ensure electronic security. Before you sign up for any gateway, double-check that they are PCI compliant. These are guidelines put in place to safeguard client data and payment information. For example, if you were considering using PayPal as your preferred payment gateway, you would notice that their solution is PCI compliant, which should offer you trust in the sophistication of their encrypting process.
To make use of the greatest payment gateway in Kenya, make sure you’re a Flutterwave merchant or sign up today to allow these convenient payment methods. The time has come!