Ignite Payments

Ignite Payments
* Payment Gateway and its benefits to Merchants and Consumers

* A payment gateway is a service that gives merchants the ability to perform real-time credit card authorizations from a Web site over the Internet.

Some of the advantages, payment gateway has to offer:
  • It reduces cost of manually processing credit card orders

  • It improves control over individual transactions

  • It improves customer service through real time status of payment authorizations

  • It helps you manage and increase the knowledge of your business through detailed reporting

  • It improves security against malicious credit card "attacks"

  • It reduces incidence of fraud

  • Increases payment service availability

  • It reduces cost through rapid integration with existing applications
Online payment gateways for retailers have become a very profitable additional revenue stream. Retailers have realized that by not offering online payment services they are turning down lots of consumers and losing substantial business.

Consumers also across the world have embraced the online payment route for buying products and services not only from pure play online establishments but also from offline establishments who are also now offering an online payment option.

The convenience of making payments at the click of the mouse has caught the fancy of consumers globally, even those who earlier were hesitant to use online payment gateways.

Lets quickly look at some of the benefits a payment gateway has to offer a businessman.As a business owner, how does using an online payment gateway benefit your business?
  • Consumer base is larger. An online payment gateway gives you instant access to a global marketplace. Your business will no longer be restricted by geographical boundaries. Access to global marketplace brings more consumers and larger profit margins.

  • Investment is low. With online payment gateway enabled businesses, you can offer your products and services to consumers globally, without setting up physical stores or investing in retail infrastructure. This model will also cut down manpower expenses and will contribute to a healthy return on investment.

  • Order processing is faster. With online payment gateways you process orders faster. As there would be no lead-time for receiving checks and money to come. The gateway will also allow you to monitor payment confirmations in a real time basis, all this leading to faster order processing.

    Enjoy consumer trust. As a retailer with an online payment gateway, you will enjoy increased consumer trust as it makes the whole process transparent and also gives the consumer the option of reclaiming their money through the charge back process in the event they are not satisfied with the product or service.
The above -mentioned and many other benefits make online payment gateways imperative for modern business. It opens up a lot of untapped avenues and also opens up an additional revenue stream.

Lets now understand why payment gateways have found wholehearted acceptance by Consumers:
  • Online payment gateways hold universal appeal, they help consumers from one part of the globe transact with a retailer on the other end instantly.

  • Consumers can now shop remotely without physically visiting the retailer. This saves time and makes the whole shopping process hassle free. Consumers also have the freedom of shopping 24/7 sitting home at your desk.

  • Online payment gateways have become, over a period of time, completely safe and secure. Online payment mode also provides the customer with a charge back facility if they use a credit card for payment. Charge back allows the consumer to get their money back if the service is dissatisfactory or not honored

  • Consumers don’t have to wait for weeks to get a status on their payment, whether it has been accepted or dishonored for various reasons. Monitoring also helps in real time error correction and that empowers the consumer substantially.
The above-mentioned and many other advantages have made online payments popular with consumer.