The development of online businesses has led to consequential establishments of online payment settlement platforms to provide expedited and timely funds transfer across various financial entities. Moreover, online payment gateway providers establish and maintain various security measures to safeguard web-based transactions for online stores via free payment gateways from various drawbacks.
Online payments gateways are among the most secure, fastest, most affordable and versatile payment methods for businesses. In this post, we’ll explore 5 solid ways a web-based payment gateway secures online stores:
- Swift and secure financial account verification
In order to effectively transact payments online, every enterprise, merchant or service provider will require to verify the validity and viability of your financial details. Featuring integration of free payment gateway for websites as plug-ins, mobile platforms, Electronic Funds Transfer (EFT), POS systems, shopping carts, debit and credit cards as well as software integration, online payment gateways process and verify financial accounts swiftly, thereby expediting financial accounts approval.
Moreover, web-based payment gateways feature fast advanced management options like Secure Hosted Payment Forms (SHPF), batching, transaction reporting, tokenization, voids, data returns and user verification. Combined, these integrations provide for very fast verification of accounts thus enables online stores to maintain and expand their customer base.
- Advanced fraud-combating tools and strategies
In a bid to shield web-hosted stores and service providers from fraudulent transactions, online payments gateways adopt a myriad of fraud detection, prevention, reporting and fighting strategies. Among the most effective approaches employed to minimize online fraud include:
- Integration of internal fraud-combating control tools including PCI standards compliance and Address Verification Systems (AVS) among others
- Hiring of fraud specialists to identify and suggest changes to fraudulent policies
- Securing sensitive payment data by limiting access to authorized personnel only.
- High density payment transactions
Free payment gateways in India and across the globe support vast online payment processing across diverse multiplexes, thus shield online stores from losing clients due to unsuccessful or delayed payments. Moreover, they provide unequaled convenience in online payment transactions by allowing full-time payments initiation, processing and settlements.
Furthermore, web-based payment gateways use multiple servers to process payments, saving merchants and customers intermittent transaction delays, uncalled for payment rejections and worrisome levels of shopping cart abandonment. These further contribute to online stores’ profitability.
- Concealment of sensitive payment particulars
Online payments gateways enable seamless funds transfers between customers and merchants without disclosing private user transaction details thus promote the integrity of sensitive payment data, further adding to the payments’ safety.
- Dependable and swift customer assistance
A reliable free payment gateway not only expedites and secures internet-based payments but also offers convenient and readily accessible expert online payment support from friendly and helpful specialists though instant chats, email support and phone calls. This inclusion allows online stores to easily and quickly streamline online payment hitches so that the transaction can be executed successfully.
The most reliable payment gateways feature the most responsive security measures to streamline online fund transfers for payment settlements. We hope this post has paved way for a clearer understanding of the various security strategies employed by worthy free payment gateways in India and the world over to safeguard online payments and maintain online stores’ profitability.