Last Updated on March 9, 2023 by Minerva
What is a Payment Gateway?
A payment gateway for a web app is a software application that makes the process of an online payment simple and easier. It is a medium through which merchants or businesses can connect their mobile applications or websites directly with the bank.
How does a payment gateway of web application work?
Let’s go through the payment journey and learn how the payment gateway works-
Step 1. An order is placed and the payment information is provided by the customer.
Step 2. The information is encrypted by the browser and forwarded to the merchant’s web browser.
Step 3. Once the merchant server receives the information it is forwarded to the payment gateway.
Step 4. The payment gateway forwards the information to the payment processor of the receiving bank.
Step 5. The receiving bank verifies the details and sends them back to the payment gateway.
Step 6. Once the payment gateway receives it, the payment is forwarded to the e-commerce site or merchant account.
Also Read: SIMPLE STEPS TO INCREASE YOUR SALES THROUGH YOUR WEBSITE
Top 5 Payment Gateways for web applications
#1 PayPal – PayPal was launched in the year 1998 and has an active user of 360 million and is present in more than 200 countries. It allows users to send and receive money online easily with a minimum transaction fee. Payments with PayPal give you extra security and fraud prevention.
#2 Amazon Pay – Launched in the year 2007, is a service offered to Amazon Customers. No additional sign-in or sign-ups are required. We can use stored card details or make one click-payment with Amazon Pay. It is one of the most trusted brands and easy to integrate with a low international fee. It provides a Free fraud protection service for the payments made through Amazon Pay.
#3 Stripe – Stripe launched in the year 2010 with the mission to make it easy to receive payment online. Stripe payment accepts debit cards, credit cards, and other popular methods around the world with just one integration. Stripe is most suitable to make an international payment.
#4 PaySimple – If you are looking for feature-rich Payment Gateways for web application then PaySimple is the one for you. With Paysimple you can make recurring payments, automate billing and invoice, built-in reporting, and more. However, all these are paid.
#5 Square – Square, formerly known as Squareup, comes with an additional feature at a low cost. The online dashboard of Square allows you to generate reports, monitor sales, and manage inventory at no extra cost. If you are looking for both an online and offline Payment Gateway then Square is the best option for you.
CONCLUSION
These 5 payment gateways for web application are easy to integrate into your website and come with amazing features that will help you run your business smoothly. However, it requires some expertise to properly integrate the right payment gateway system into your website. For the past 15 years, MINERVA INFOTECH has been an expert in payment gateway integration serving more than 18 countries worldwide.
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