SIFIPAY PAYMENT GATEWAY: POWERING ONLINE PAYMENTS FOR A SEAMLESS PAYMENT EXPERIENCE TO ONLINE CUSTOMERS
With SifiPay, our robust and secure payment platform enables you to accept funds instantly within 24 hours, without the nightmare of hidden fees or high costs. Online businesses can seamlessly accept payments from all major credit or debit cards around the world on websites or mobile applications. SifiPay payment gateway platform has the capability to support diverse business categories and models across the globe. Our customers receive localized payment gateway solutions.
MOST SECURE PAYMENT GATEWAY IN INDIA
SifiPay understands that consumers need to make online transactions to be able to pay directly from their bank accounts in a convenient, safe and secure manner. Safety is the most important factor of all payment gateway services offered by SifiPay. As a PCI-DSS certified and fitted with 3D protected authentication and a dual-layer fraud protection system, SifiPay allows transactions 100% secured. Customer records and account history are safely secured to avoid identity theft, phishing and other forms of cyber fraud.
WHAT IS A PAYMENT GATEWAY?
The payment gateway is a technology used to accept purchases following an internet transaction, serving as an intermediary between the merchant's website and the acquiring bank. In other words, it passes information about the order from the dealer to the bank, authorises the credit or debit card and enables the transaction of payment.
Any time you complete the checkout form on the ecommerce store, providing your payment details for purchase, the gateway processes this information and transfers it to the bank you purchase. In addition, the use of encryption and tokenization for the security of financial data guarantees a safe exchange of information between consumers, merchants, payment networks, purchasers and issuers of banks.
Payment gateways serve as intermediaries close to the way POS networks do in physical establishments. They allow and accept digital transaction processes that require transactions to go forward, making it easier to buy digitally securely. Excluding a payment portal, e-commerce will not be able to accept digital credit cards.
HOW DOES A PAYMENT GATEWAY WORK? WHAT ARE ITS TYPICAL TRANSACTION PROCESSES?
When you've loaded your shopping cart with the items you intend to buy, you'll arrive at the register, which is when the payment process begins.
Step 1: A customer places an order
Step 2: Encryption of information and forwarding to merchant’s site
Step 3: Forwarding information from merchant’s site to the payment gateway
Step 4: Payment gateway sends transaction information to the payment processor
Step 5: Payment processor forwards transaction information to the card association
Step 6: The card association receives the authorization request
Step 7: Payment processor forwards this information to the payment gateway
Step 8: Payment gateway forwards it to the merchant website
Step 9: The payment gateway performs a process known as Settling
Step 10: Payment gateways also record your transactions
Amazingly, this whole procedure just takes a few seconds.
WHO NEEDS A PAYMENT GATEWAY?
Generally speaking, any business that wants to take credit and debit cards and process payments online needs one. E-commerce, internet retail, booking engines, managers, hotels that make online reservations, travel agents and microcredit companies are only a few examples of online businesses that require a payment gateway.
HOW TO CHOOSE A PAYMENT GATEWAY
Many business owners, founders and product managers find it difficult to choose a payment gateway for their business.
A good payment gateway will have the following features:
1. Good success rates
2. Multiple payment modes
3. Easy and quick onboarding
4. PCI-DSS compliant security
5. Insightful and intuitive dashboard
6. Competitive pricing options
7. Free setup and zero maintenance charges
HOW TO SETUP A PAYMENT GATEWAY?
Every payment gateway has its own specifications. Each gateway must be setup individually.
If you are using multiple payment gateways, you must set up a different gateway profile for each merchant ID you choose to use.
Take the following measures to customise your payment gateway:
1. Click your username at the top right and navigate to Settings > Payments > Setup Payment Gateway.
2. Select the payment gateway from the Gateway Type drop-down.
3. Click create gateway. In the New Gateway page appears.
4. Enter the required information for the selected gateway:
o Basic Information
o Credentials
o Rules
5. Click save gateway information.
WHAT ARE THE BENEFITS OF USING SIFIPAY PAYMENT GATEWAY?
Secure transactions - SifiPay uses industry-standard encryption and successfully protects sensitive data, guarding both merchant and customers from online scams.
Expanded customer base - SifiPay enables shoppers to have access to online stores and can expand customer base.
Faster transaction processing - SifiPay is much faster than manual processing, and customers can buy online products or services without the trouble of long waits.
Added convenience - Having SifiPay as payment gateway means an online store is open 24/7, and the customers can shop at any hour of the day or night from the comfort of their own homes.
