Online payment can be such a hassle. Visit Oceanpayment for a better payment gateway international processing experience. Find yourself alternative payment options for payment gateway international like boleto payment gateway and Klarna payment gateway.
The internet has put all of us into a global village, where we can shop anywhere with just a click through the payment gateway international. The ecosystem of payment gateway international processing is a little complicated. Payment gateway international means you can pay up or accept payments from any part of the world. This also means keeping in mind the cross-border fees, foreign exchange fees, currency conversions, local regulations, and choosing the best payment gateway international processing operator that can offer payment gateways like boleto payment gateway and Klarna payment gateway.
How does payment gateway international processing work?
Many payment gateways international offer global payment gateways like boleto payment gateway and Klarna payment gateway. All these payment gateways international work the same. There are very important factors in online payments. They are the key players of payment gateway international such as Boleto Payment Gateways and Klarna payment gateway processing.
The merchant: Here, the merchant is you. The merchant is any business operator (i.e. travel, retail, eCommerce, gaming, Forex, etc) that offers products or services to customers.
The customer: Also Known as a cardholder, customers want to use or purchase the merchant’s product or service.
The issuing bank: The customer’s bank has issued credit or debit cards to the customers.
The acquirer: The acquiring bank is the financial institution that manages the merchant’s bank account. It passes merchant’s transactions to the customer’s issuing bank. This way, they can receive the payment. Without these payment gateway international players, the entire process will remain incomplete.
Example of Payment Gateways International:
To understand how payment gateways work, two examples of Payment Gateways international are Boleto Payment Gateways and Klarna Payment Gateway.
Boleto Payment Gateway:
Boleto Payment Gateway is a payment gateway international. Boleto Payment Gateway or the Boleto Bancário is a push payment method. The Brazilian Central Bank overlooks and regulates the Boleto payment gateway.. Boleto payment gateway uses cash payment or wire transfer.
In the Boleto payment gateway, the buyer gets a prefilled bank slip. They can print the Boleto payment gateway slip and pay at a bank branch or authorized processors, like post offices and drugstores, by cash. With the Boleto payment gateway, they can also pay it through over 48,000 online ATMs in the country. You can use the Boleto payment gateway if your company is getting traffic from Brazil.
Klarna Payment Gateway
Klarna Payment Gateway is also a payment gateway international for eCommerce stores. The Swedish Financial Supervisory Authority regulates Klarna Payment Gateway. Klarna Payment Gateway handles all your store checkouts. Klarna Payment Gateway offers four payment methods for all checkouts.
Pay Now: Through Klarna Payment Gateway, customers can pay the bill instantly via cards.
Pay in 30 Days: Klarna Payment Gateway offers customers to pay in a month.
Pay in 3 Installments: With Klarna Payment Gateway, customers can pay the price in 3 installments.
Financing: if it’s a big purchase, Klarna Payment Gateway also offers customers installment plans like 6, 12, 24, and 36 months.
A payment gateway international help you to use more secure payment and also can increase your global customer base. Oceanpayment is the perfect payment gateway international that offers merchants simple, professional, and safe payment methods. Oceanpayment provides services to thousands of customers from more than 200 countries, issuing billions of dollars in global transactions. It has more than 500 payment methods like Boleto payment gateway and Klarna Payment Gateway.
For more details on Oceanpayment customized solutions regarding Boleto payment gateway and Klarna Payment Gateway, visit their official website www.oceanpayment.com/
As ecommerce allows an influx of international customers to your store or website, it’s important to offer multiple payment options to accommodate these consumers. Payment gateway international processing is a great way to accomplish them.
A gateway, such as the Klarna payment gateway, refers to a technology that lets merchants accept credit or debit card purchases. The term does not only describe the physical card-reading device you see in brick-and-mortar stores but also online payment processing portals.
In recent years, payment gateways have begun to accept QR code-based and NFC-based payments. Below, we discuss how gateways, like Klarna payment gateway, work and why you need to incorporate them into your ecommerce business.
How Does a Payment Gateway Work?
A payment gateway has several key players that take the payment process from start to finish. When a customer comes to your website and proceeds to pay for their order, their payment goes through a multi-step process to finally reach completion.
Before we explain the process, let’s discuss the people involved in a payment gateway:
- Merchant: It’s you. A business that offers a product or service to customers is the merchant in this process.
- Customer: A customer is an entity that wants to purchase the product or service from the merchant. They are also cardholders.
- Issuing Bank: An issuing bank is a bank where the customer has their account. It is called the ‘issuing bank’ because it has issued the debit or credit card to the customer on card schemes’ (Mastercard or Visa) behalf.
- Acquirer: The acquiring bank is the financial institution where the merchant has their account. Typically, when there’s a transaction on the merchant’s store, their acquiring bank passes it to the issuing bank. They then receive payment from it.
How a payment gateway works depends on whether it’s an online portal or an in-store gateway. Online portals have application programming interfaces that allow communication between the payment processing network and the merchant’s website.
An application programming interface refers to a set of programming codes responsible for querying data and responses. It then sends instructions from one platform to another.
How Does a Payment Gateway Differ from a Payment Processor?
A payment processor forms the second half of the transaction after a payment gateway has collected customer information.
The payment processor then uses this information and contacts both the issuing and acquiring accounts. Then, it debits the amount into one account and credits into the other.
Examples of Payment Gateways
To better understand how payment gateways work, let’s take a look at two examples:
Boleto Payment Gateway
Being a push payment method, the Boleto Bancário works just like cash payment or wire transfer. The Brazilian Central Bank regulates the Boleto payment gateway.
Buyers have a prefilled bank slip. They can choose to print it and pay using cash at a bank branch or authorized processors, like post offices and drugstores. Alternatively, they can pay electronically through over 48,000 banking points in the country.
If your store gets a lot of traffic from Brazil, you might want to offer Boleto payments as it will prompt more customers to complete their purchases.
Klarna Payment Gateway
Klarna Checkout is a payment solution for ecommerce stores where Klarna handles all checkouts by offering four solutions:
- Pay Now: Customers can pay instantly through their cards.
- Pay in 30 Days: Customers get an invoice that they have to pay in a month.
- Pay in 3 Installments: Customers can purchase the item in instalments if they’re unable to pay for it upfront.
- Financing: For larger purchases, Klarna also has instalment plans with longer repayment terms, like six, 12, 24, and 36 months.
Advantages of Payment Gateway International Processing
Merchants can increase the ease of purchase in their stores by incorporating international payment gateways. These allow customers coming from different countries to make payments through their preferred methods.
Payment gateways guarantee robust security, freeing you of the worry and concern that come with online transactions. Most gateways have encryption technology that secures customer information from hackers and cyber attacks.
On the other hand, merchants are also secure from fraudulent activities through payment gateways.
Expansive Customer Base
The more customers you can accommodate, the more money you’ll make. It’s the easiest rule in the book to understand.
When you expand your business internationally, it’s important to ensure your customers can conveniently shop from your store. A payment gateway makes this possible as it allows you to accept different types of payments, irrespective of the issuing banks.
Accept International Payments with Oceanpayments
The first step of incorporating payment gateway international into your store is partnering with a global payment service. Oceanpayment is a reliable name in the field, offering convenient, simple, professional, and safe payment solutions to merchants who want to expand their businesses across the borders.
Oceanpayment’s PCI Level 1 Gateway ensures maximum uptime and seamless worldwide payment processing.
Since the payment solution provider supports open-source shopping carts, like Zencart, Prestashop, Opencart, and Magento, you can benefit from its services regardless of your geographical location and the platform you’re using.
Oceanpayment serves thousands of merchants across 200 countries, facilitating billions of dollars in global transactions. The company caters to small and large businesses alike, assisting merchants in increasing their reach and revenue.
Since Oceanpayment offers more than 500 payment methods from a unified platform, you can accept various payment times globally across different channels.
Get in touch through a call or contact form to learn more about Oceanpayment’s customized solutions for your industry.
The world has become a global village, and this is the truest in terms of online shopping. People sitting in a different continent can shop from their favorite stores without ever visiting them physically.
With an increase in ecommerce opportunities comes the responsibility for merchants to make the process as simple and convenient as possible for the consumers. An international payment gateway helps you do just that, letting your customers shop using their preferred payment method securely and quickly.