• A new situation has arisen, and none have anticipated the problems faced during this pandemic of Covid-19. Lockdown has become a part of the new normal. Every day people are stuck in their homes, or they are working from home. According to creditcardgenerator.one, you can easily create credit cards to avoid the crowd because of catching the infection, almost all are using eCommerce websites for buying products. But you need to have a secure payment gateway so that your customer feels safe while purchasing the products.

• A newcomer to the eCommerce website or an already a member, this eCommerce business is laid upon different payment gateways to buy a product. You want to start a new eCommerce website and start to earn money. You need to learn about different payment gateways that a customer can use to pay for the product, he/she ordered.

What is an eCommerce Payment Gateway?

An eCommerce Payment Gateway is a software application that takes up your credit card details and enables a secure transaction for your payment and sends off the transaction details and responses from the bank that the payment has been completed and secured.

It’s a quick, straight -forward and in-home transaction process. In reality, a lot of complicated steps are there to work seamlessly to ensure a safe transfer of funds from buyers to sellers.

• Steps for a secure transaction through an eCommerce Payment Gateway.
• Criteria to select the payment gateway

Points that one should consider during the selection of the payment gateway are as follows:

1. Recognize the popular payment gateway in the area of sellers where the website is targeting their products.
2. Ensure that the payment gateway has the least transaction fees.
3. For increasing the e-commerce marketplace worldwide, find a payment gateway that supports the multi-currency facility.
4. Read the prerequisites of the payment gateways so that the seller can get a concept of the products that they can sell. 
5. Make sure that the payment gateway provides an enjoyable shopping experience to the customers.

Now let’s look upon six payment gateways and their features:

1. RazorPay:

RazorPay is an India focused payment gateway that provides secure and easy online payments. It allows the seller to collect the recurring payment and share the invoices of the product to the buyers.

• 50+ modes of payment such as Credit/Debit Card, Netbanking, UPI transaction, Wallets, etc.
• Real-time data and insights of the amount in the dashboard.
• No charge for initial set-up and annual maintenance cost.
• Don’t support multi-currency transactions.
• Access to all payment modes, including Mobikwik, Ola money, Jio money, etc.

2.  ICICI PayPal : 

A venture of ICICI Bank and ICICI Payseal offering a secure and fast online transaction solution to eCommerce websites. It’s flexible and can be integrated into the website platform easily.

• The integration fee is Rs. 50,000 for a single merchant ID (non-refundable).
• Real-time data and insights of the payment in the dashboard.
• For additional MID, pay Rs. 10,000/MID.
• The rental cost is Rs. 12,000/annum when the transaction value is less than Rs. 36lakh/annum.
• Per transaction, the charge is less for the buyer, although it uses JAVA technology, which takes up a long set of time to ensure the deal.

3.  PayPal : 

One of the most popular payment gateways and suitable for a merchant with international customers. Although it’s not ideal for Indian customers and they have to pay additional charges for the currency conversion with taxes.

• Use payment gateways like MasterCard, Credit cards, Visa Cards, American Express, etc.
• No initial set up charge and annual maintenance cost is required.
• Offer encrypted and safe PCI-DSS compliant payments.
• In India, one can use PayPal when the transaction is between foreign customers only. No credit card facility for Indian customers.

4.  IndiaPay:

A broad, end to end modular payment method with secure online payment and immediate paper transaction details provided to sellers and buyers.

• Mode for International clients payment is provided.
• Accept all major Credit/Debit cards naming AmericanExpress, VISA, MasterCard, etc.
• Ensuring 100% secure transaction details.
• The payment collection process is fast, safe, and fraud-free.
• Offer world-class customer support.

5. Instamojo :

One of the most popular among small class Indian businessmen and an extremely easy to set up the payment gateway. It takes only 2 mins and it’s free.

• Supports only Indian currency.
• Don’t charge anything for withdrawal.
• Don’t support international cards and payment.
• View the documentation list after signing the payment papers.
• Receive a refund after signing up with an email. Payment can be collected by links provided through WhatsApp, Facebook, etc.

6. PayUMoney:

An award using and customer friendly modern payment solution to online businesses.

• Secure the account with 128 bit SSL encryption and two transaction authentication details.
• No initial set-up charges and annual maintenance charges.
• 50+ payment modes via UPI to MasterCards, VISA, Debit cards, net banking, etc.
• App ready and support in Android and iOS systems.
• Account created instantly and secured and fast payment among the providers and buyers.

Other Payment Gateways, which are also popular among the eCommerce websites, are AmazonPay, CCAvenue, EBS, Translate, etc.