Solutions: Global Payment Gateways Processors
There are multiple techniques available for transferring money through Gateway payment solutions. But to make such solutions successful we need successful global payment processors like Oceanpayment.
With the advanced development in digital Technology, people have been constantly involved in using multiple transaction processors. One among them is the global payment processors that have gained more popularity due to their efficiency and easy access. When it comes to global payment gateways, there are multiple options available that you can avail yourself, from the phone. Some of the common global payment gateways include Alipay, WeChat, Apple Pay, and Google pay. All these Gateway payment solutions are used in international businesses to improve the transactions and receive immediate responses from the merchants.
What is a global payment gateway processor?
A global payment processor acts as a mediation between multiple international organizations and also between merchants and the customers. With the help of a global payment gateway, one can process and link their credit card payment with alternative techniques. The gateway payment solution directly impacts the profit and sales value of the seller, otherwise popularly known as the merchant. From small shops to international business agencies, everyone nowadays believes in accessing cashless transactions through global payment processors.
In the current global digital environment, most of the global payment processors use the global payment gateway to process and analyze the movement of money regularly. Using the gateway payment solution prevents integrated fraud and extra charges that might occur in the system. The Gateway payment solutions are preferred since it makes the process of International payment efficient and simple.
Can international payments be made through global payment gateways?
Recently we have observed multiple alterations in the international market of gateway payment solutions. The development of e-commerce technology has forced the introduction of gateway payment solutions for easy transactions. So to make international transactions possible, it is necessary for the merchants to combine with a global payment processor who will cater to their requirements. The Gateway payment solutions allow you to partner up with international customers and offer products to gain more fame and partnerships in the future. So with the help of advanced global payment gateway, merchants can send and receive payments with quality.
Benefits of using global payment processors
Some of the organizations offer global payment processor services, while others offer global payment gateway services. Both these techniques are equally important in Gateway payment solutions, and hence having both of them will improve the virtual transaction of the merchants. Some of the common benefits offered by the global payment processor and global payment gateway have been stated below.
● With the Gateway payment solutions, it will be easier for the payment integration with the other multiple software platforms. The global payment gateway merchants can link their accounts with the ERP and accounting platforms to avoid the performance of manual income tax requirements.
● The Global payment processor also prevents you from using the card which is a safer option, especially if you have a Gateway payment solution application installed within your mobile phone. The global payment gateway card reading services can be swiped, dipped, and swapped on the reader.
● The global payment gateway prevents the manual entry of such transactions, and it saves a lot of time.
● The global payment processors accept fast payment processing and allow you to perform multiple transactions simultaneously using preferred Gateway payment solutions.
● The global payment gateway reduces the occurrence of fraud management and Gateway payment solutions also provide constant recurring billing.
Along with these benefits of global payment processors that offer a variety of Gateway payment solutions, there are advantages like chargeback prevention and integration with shopping Cart offering a quick check out.
Why Oceanpayment is a better global payment processor?
If you are searching for a suitable global payment processor, then Oceanpayment will be a better option. Filled with secure options and multiple global payment gateways like Alipay and WeChat Pay, we offer you a chance to experience the best Gateway payment solutions in the world. Visit our website to learn more.
According to “Research Report on Payment Gateway Market by Type from 2020 to 2025 under the COVID-19”. The report pointed out that the global payment gateway market is expected to grow from 50,312.85 million U.S. dollars in 2020 to 94,198.97 million U.S dollars at the end of 2025. With the increasing popularity of the “payment as a service” model, merchants may adopt encrypted payments to create new opportunities for the payment market.
What is a Payment Gateway?
Payment Gateway is the interface between the bank’s financial network system and the internet. It is a set of server devices operated by the bank to convert data transmitted on the internet into internal data of the financial institution, or a designated third-party processing merchant payment information and customer payment instructions.
With the continuous growth of the online market and the further advancement of globalization, the processing of online transactions will become an indispensable function of every payment system. Nowadays, merchants are very inefficient in data transmission. With global payment gateways, this problem can be effectively solved. It enables banks or dealers to maintain high efficiency even in the face of the rapid growth of the online market and the continuous expansion of online transaction volume.
The importance of global payment gateways
Since the past few years, payment methods have rapidly developed from token systems to cashless payments. Global payment gateways allow any business (such as physical stores or online retail) to collect payments through the customer’s preferred bank without compromising sensitive data. The integration of global payment gateways has become one of the most important aspects of any company in every industry. In addition, the growth of online transactions is expected to drive market growth during the forecast period. For example, in India, the number of mobile payment transactions increased from 2.9 billion in 2016 to approximately 6.9 billion in 2017. This is expected to increase various companies’ cooperation with global payment processors in the country, and create new ways for industry participants to enter the market, which will have a positive impact on market growth. In addition, emerging technologies such as the internet of things (IoT) and artificial intelligence (AI) have the ability to perform specific task sets and automate the entire transaction process.
Global payment gateways can guarantee the safety and reputation of merchants. Global payment processors must provide a high degree of reliability and effectively protect information about users and transactions. They should use reliable protection to resist DDoS attacks so that their effectiveness can be guaranteed under any circumstances, and the merchant’s funds remain safe.
Global payment gateways should have legitimacy. Global payment processors have licenses that can legalize their work and ensure the safety of their customers. Data about merchant transactions (all data are innocent) will be legalized, and the service provided must also ensure the confidentiality of its user information. Therefore, payment will be as fast, secure and confidential as possible.
Global payment processors can achieve convenient transactions with a low commission percentage, and fast data processing speeds allow merchants to complete transactions on a global scale. At the same time, the payment gateway website has multiple language versions, so that users can complete payment transactions as easily as possible.
Payment gateway market classification and trend analysis
It is worth noting that more and more Internet users, coupled with the government’s digital initiative is forcing users to conduct online transactions, which may have a positive impact on the market payment gateway market. From 2013 to 2017, the number of global Internet users increased by about 35%, and this number is expected to increase further due to the introduction of 5G high-speed internet technology. Countries such as China are rapidly expanding internet connections in rural areas to increase internet penetration, which may have a significant positive impact on payment gateway providers.
Based on integration of payment gateways, the four most common payment gateway integration methods are hosted payment page, in-context popup, iFrame and API. Hosted payment page is the browser will jump directly from the merchant website to the payment page provided by the payment gateway after the user confirms the order on the merchant website and clicks the “Continue Payment” button. In-context popup means a payment module pop-up box provided by the payment gateway will pop up directly on the current page, then the user can make the payment without leaving the merchant website. iFrame allows the merchant to load the payment component into the page in the form of an iFrame when rendering the payment page. API request is sent directly from the back end of the merchant website to the payment gateway.
The future of global payment gateways should not be limited to a simple integrated payment function. Market competition is getting fiercer and fiercer, and the current trend of global payment gateway payment business is diversification. Global payment processors must be technology- and product-oriented, start from better solving users’ payment problems, improve the convenience and efficiency of payment for the majority of users, and promote the development of the industry.
In the context of the rapid development of information technology, especially the internet, customer data and finance have become the core elements of the future development of the electronic payment industry. Innovative products in the industry continue to emerge, and the application fields continue to expand. The global payment industry will transform from simple channels to the service-oriented electronic payment business. The global payment gateway industry will integrate payment and financial value-added service providers, tending to integrate with mobile and unified payment.
Simplify the global payment：Oceanpayment global payment solutions
Oceanpayment is jointly invested by professional capital in the financial and internet industry and a senior team engaged in internet payment and operation. Headquartered in Hong Kong, and with technology and operation centers or business entities in Shenzhen, Australia, the United States, Europe, and Singapore, Oceanpayment is committed to providing global payment solutions to comply with the development trend of the B2C (B) industry.
The system platform supports more than 500 payment products worldwide, covers more than 200 countries and regions, and serves tens of thousands of customer websites. The omni-channel, multi-scenario, and multi-terminal global digital payment solutions and services provided by Oceanpayment can meet the diversified payment needs of global consumers. Contact us for more details!