The confidence to purchase online depends on type of payment gateway integration solutions that is offered to the client on your eCommerce website or mobile application, so when setting up an online business you should know which payment gateway in UAE is acceptable for your customers.
As a trade, both online and physically, if you want to accept card payments you need to have a terminal (Point of Sale). As it is evident, the integration with online stores are virtual but the purpose is exactly the same as that of a physical POS.
All eCommerce websites and mobile applications that choose to integrate payment gateway solutions as a means to collect payment from customers through online transactions have several options available for online payment gateways in UAE.
Trusted Payment Gateway Integration Solutions in UAE
Payment Gateway is an online payment service that helps companies accept virtual credit card service. In other words, online payment gateways are man-in-the-middle, which is located between major e-commerce platforms and customers. Online payment gateway makes you to:
- Collect payments quickly and easily from physical or virtual cards or online wallets or any other digital payment methods or payment options.
- Keeps your customer payment processing data (information) and money safe.
- Fraud prevention technology so they are ready to give their money to small and medium enterprises.
To be able to choose between different payment gateway integration solutions in UAE. There are several factors to consider, such as:
- You should select the best payment gateway provider that is supported in the countries you will be offering your services, as many payment gateway solutions don’t work in developing countries.
- You should check top payment gateways for support on your eCommerce sites. For example, international firm VISA is fully supported by major e-commerce platforms and provides online payment processing widget.
- You should understand what is security deposit, setup cost, transaction fees and monthly maintenance fee, refund process, any deduction per successful transaction along with potential transaction risks and duration of bank transfer to your bank accounts.
- What innovative payments method do they support? For example Apple pay, Android pay is latest digital payments method, Amazon payment services is another.
- Do they support your type of e-commerce business? For example, some payment gateway in UAE and specialized financial institutions don’t offer online payment options for those who sell MLM, adult materials, bets, gambling, firearms, drugs, etc due to the law of United Arab Emirates.
- The payment gateway must comply with PCI DSS security standards.
- Accepted online payment currencies,
- Online Payment Gateway Integration Plugins,
- Secure banking page after successful transaction
- Fraud Prevention
Perfect Payment Gateway solution Companies in UAE
2checkout is one of the easiest and most affordable and responsive online payment gateways.
PayPal is one of the most popular payment gateway for online payment options.
Pay Fort is a regional expert in payment gateway technology and online payment solutions across major markets in the GCC & Levant countries, operating in UAE, Egypt, Saudi Arabia, Lebanon, Jordan, and Qatar.
Pay Tabs is an award-winning payment gateway firm with presence in the Middle East and Asia.
There are many other companies approved by Central bank of UAE to offer payment gateway services like Tap Company Telr, CCavenue, etc.
How do I proceed for payment gateway on my E-Commerce Website
Once your e-commerce website is developed to be launched with all policies and products updated. Payment gateway company will review for all legalities, payment form structure, deliver invoices structure, payment options accordingly payment gateway company will share transaction fee, monthly fee, annual fee, setup fee, maintenance fee and finally ask for monthly transaction volume expected from your online business. After all per-requisites are full-filled and you are comfortable with transaction fee the merchant account will be issued.
Payment gateway company will share security keys and instructions for its installation on your e-commerce website. The merchant may use the instructions provided by the payment gateway provider or specialized financial institutions. In the installation process, the online store must include payment processing widget on its website and link it to the payment gateway. In this way, when the customer confirms the purchase, it will connect to the payment options of the payment gateway provider.
How will that transaction be made?
When the customer places the order and chooses the card payment option, the basic scheme that the transaction will follow will be as follows:
- The trade connects with the TPV of the Acquiring Bank Entity (the bank that provides the Merchant Account Details) indicating the name of the trade, amount of the purchase, date, currency.
- The buyer (holder of the card) enters the data of the card on the screen.
- The payment gateway provider connects with the issuing entity (the bank that has issued the card with which it is being paid) requesting authorization.
- The issuing bank requests authorization One Time Password (OTP) from the cardholder (buyer). It is probable that the issuing entity does not have this authorization process if this is the case, this authentication will not be carried out.
Sales performed from best payment gateway integration solutions in UAE
The trade has an external portal where you can consult the details of the sales made and returns. Both the seller and the buyer will confirm the operation immediately. The merchant will receive the payments of the purchases in his bank account on a regular basis.
The payment gateway integration solutions provider will charge a commission per transaction fee (called the Discount Rate). The % of the commission will depend on the type of payment, the country, and the product/service.