A payment gateway is a website or electronic service through which a person or business entity collects digital or online payment from their website or app. Almost every kind of payment on the internet is done through payment gateways which provide authorization and security to payment thus ensuring data protection on both sides.
Almost every service on the internet is using a payment gateway and we are going to look at some of the services where payment gateway are integrated effectively.
- Payment Gateway for MLM
MLM or Multi-Level Marketing software allows businesses to build and manage network marketing. This might include selling and purchasing of products and services through online mediums, bonus offers, online purchases, package up-gradation, member renewals, and more. For this digital transactions are made and to facilitate that payment gateway is used which can work as a secure medium.
Payment Gateways in the case of MLM needs to maintain encryption of data to prevent any loss. When a transaction is read by the processor, the credit card/debit card/net banking company is notified, then a further message is sent to the merchant. While doing this, the transaction details are kept in the merchant account and the same is sent to the user’s bank account.
The most trusted payment gateway in the case of MLM software is PayPal and EBS (E-billing Solutions) due to their high-quality protection of data and fast processing.
- Payment Gateway for Forex
Forex is all about the transaction. Everything is recorded in terms of numbers that are settled through payment. Wallet payments and cryptocurrency payments are quite common in the forex field. Also, a payment gateway here will act as a connecting bridge between the currency trading platform and its users. Payment gateway here can be directly implemented into the platforms to facilitate online payment facility. As the payment gateway transfers the amount from user to merchant account, it deducts a certain percentage-based or fixed fee for each payment.
For forex traders finding a payment gateway becomes tough sometimes due to their high transaction activity and high-risk involvement and also it can run on credit risks which later can cause problems. In these cases, E-wallet solutions have been a boon in terms of payment gateways for Forex. Providing high security and anti-fraud features with strict KYC/AML monitoring E-wallet solutions like STICPAY are the best solutions. It allows all kinds of payments and considered the most secure payment gateway around specially designed for forex payments.
- Payment Gateway For Website
Websites offer a range of services. Some websites sell pure promotional content. With the rise of the internet and digital market now people are setting up small-time websites to sell their products like e-books, video classes, limited offer shirts, merchandise and then close the site to invest in other business. All these websites need payment from the user for offering their products or services. And here comes the need for a secure payment gateway that can facilitate a secure and fast transaction between the customer and the website and can be directly implemented into the code.
According to the survey, a customer going through any website might leave the payment halfway in between if he doesn’t find suitable options for payment, user experience is not good, too many fees are being charged by the gateway, and the processing time is not good. So, for choosing a suitable payment gateway for your site you must consider these things.
Paypal is considered the top payment gateway here for this kind of website. Multiple options for payment, secure server, encryption facility, low processing fee, and one of the fastest payment gateway make Paypal the top priority option.
- Payment Gateway For Crypto
Cryptocurrency is just another world where the rules of the transaction are so tight that it is considered the most secure and also one of the most complex currency. Transfer here makes cryptocurrency and using a payment gateway, in this case, is necessary as it allows you better control.
Cryptocurrency uses a block-chain powered mechanism for transactions and a payment gateway facilitating the transaction in cryptocurrency must also facilitate this. This way proper transparency and reliability can be maintained. Also, due to its adaptability, it can be used in various ways. Extra security to end-users, customizing the options in payment gateways are enabled in block-chain-based payment gateways and this can be used for your benefit.
Day by day more and more people are going towards cryptocurrency and this makes payment gateways for cryptocurrency an imminent need. BitPay is one of the major block-chain powered crypto payments that have been reviewed greatly. Two-step verification wallet, supporting all major currencies such as USD, GBP, EUR, and more, ability to exchange the funds at current market rates makes it one of the most advanced and secure crypto payment gateways in the world.