As more businesses adapt digitally, payment gateways are becoming essential for all businesses. In terms of sales growth, customer loyalty and market expansion on scale, the benefits of payment gateways are innumerable for businesses of all stripes. The internet is an open frontier where any seller, large or small, can reach an infinite and wide customer base. Among businesses new to digital payments, the most common question is “Can payment gateways benefit my business?” They certainly can, here is why you need to integrate a payment gateway.
So what is a payment gateway? A payment gateway is an online intermediary that makes payment transactions safe for both parties in a transaction. When a customer makes a payment on your website, the payment gateway processes and encrypts the credit card data to authorize the transaction. This way, each transaction can be processed instantly with the funds deposited to your merchant account.
With a payment gateway, the payment info is fully protected, giving your customers the peace of mind that their credit card info is fully protected and will not be leaked to a third party. At the same time, your operations get secured against breaches that could otherwise leave your business vulnerable to damaging complaints and customer lawsuits.
In a world where data breaches occur frequently, you must enact every possible layer of security to protect your customers online. For the sake of your own business, you must also have layers of protection that will safeguard your database against online hackers.
Payment gateways keep your business compliant with PCI Data Security Standards by encrypting the card data of each customer who purchases items from your online store. With a payment gateway, both sides of each transaction are fully protected from cyber thieves.
If your business has a payment gateway, it will give customers the confidence to make payments through your business or service. The presence of a payment gateway acts as a guarantee of security for customers near or far, assuring everyone that payments are always safe when processed through your payment portal.
The advantages of payment gateways are wide, but they all translate to increased business and customer loyalty from a larger range of customers from all calipers.
On the cardholder’s end, this translates to confidence in knowing that the digits they enter into the system will be encrypted and processed by the authorized party. Once that transaction completes, the digits will no longer exist in the system, thereby providing no point of entry or window of opportunity for online hackers.
For the business, payment gateways make it easier to amplify sales and expand the business into far-reaching territories in just a short span of time. PaidYET was designed for B2B SaaS, Online markeplace, and Software companies to accept and request payments. Providing a seamless checkout experience for software companies of all types. Make it easy for customers to pay and they will.. Sign up today to get started and keep the money moving.