Accepting Payments in the Cloud

Starting an E-Commerce Store and Accepting Payments in the Cloud

The most crucial decision to make is when you run an eCommerce store and need to find an authentic payment processor. Accepting payments in the cloud for your eCommerce business means it allows taking payments from online customers and transfer them to accounts.

It is exciting to open an eCommerce store for entrepreneurs, though you need to take utmost care. Knowing about eCommerce payments in the cloud requires you to look for a processor allowing customers to use online their cards.

What is a payment gateway?

A payment gateway refers to the service provider providing payment authorization. It is a software application connecting the bank with a website. There are many service providers, and accepting payments in the Cloud is convenient that even donation collection is online by non-profit organizations. 

Different payment gateways include PayPal, Stripe, direct payments through Visa/MasterCard, Google, and so on. Each has its share of pros and cons, and the commissions vary with each processor. Online payments are becoming more popular due to their simplicity. Even older people are using online payment facilities.

What are payments in the cloud?

Payments in the cloud allow you to take payments free of restrictions on any digital device. They can be online orders, credit card purchases, and everything in between. The payments in the Cloud offer flexibility for data access, and the transactions are fast with a stable internet connection. Cloud payment system has resulted in revolutionary changes Cloud services are in massive demand among eCommerce businesses.

How does the eCommerce payment gateway work? 

Online payment systems can be used for any payment using a bank card. It authorizes and approves transactions. Having an eCommerce website implies you need to have a payment gateway. You may implement the payment gateway and get direct payments from customers. Adding a payment gateway, even for a brick-and-mortar business drives customers to your website.

The online processing of payments without a card works securely. The information about the customer’s works and the card the client is not required. As the card’s physical presence is not required, choose an online payment system that offers a high level of security and is reliable.

The payment systems follow several stages, and the same mechanisms and communication are between facilities, approvals in a series, and completes the fund’s transactions. Some steps take place simultaneously, but the funds to appear on the account may take a while. Modern gateways finalize deals faster and protect the authorizations and operations of both parties.

How to choose for your eCommerce website the right gateway

  • First, choosing between hosted and integrated payment gateways is crucial. Integrated options allow establishing a connection through API. Precisely, it is to serve customers on the website and ensure it does not harm your potential conversion rates.
  • To accept payments in the cloud in the right way, you should be responsible to store the data of the customers securely. Most likely, you require some developments to handle the integrated gateways.
  • Hosted payment gateways move transactions from your website to the payment platform’s processor. You need not be responsible for PCI compliance. The payments in the cloud are a secure, hassle-free, and convenient method of payment for any new eCommerce store.

Making the right choice requires analyzing the eCommerce platform. Choose an appropriate gateway that is compatible and handles special requirements.

Payment Gateway Integration Cost

Integrating payment online into your website requires checking fees in stages. They add up, and it is crucial to have a list to specifically pay attention to elements and their development. 

To start, there are registration, setup, and monthly fees. Then, there are transaction, processing, refund, and chargeback payment fees. Don’t forget about these hidden components, or you will be surprised down the road. In addition, there are fund transfer fees and termination fees. These are different according to the different payment gateways, though the difference is often not too prominent.

Accepting online payments is not the only advantage of gateways, as these are very complex and often multifunctional systems. Depending on what you need, you might add features that will make it safer or more convenient for your users to transfer their money. Payment gateways often help with other operations, such as:

  • Recurring bills on the pricing scheme
  • PCI compliance to prevent fines
  • API tools and Developer information for customization, to fit needs
  • Virtual terminal for convenient input of physical credit card
  • Storage of payment information so that customers need not re-enter personal info.
  • Integration with tools such as shopping carts or accounting software
  • High-level security encryption to avail sensitive user info.

Accepting Payment Processing Services in the Cloud for E-Commerce Companies

The online payment systems in the cloud take online payment important features and work together with eCommerce. The marketplaces online are competitive, and the checkout process is innovative and helps promote your business profile.

The newer online payments depend on cloud technology. Incorporating them into the online store makes:

  • It is easier, faster, and more secure to complete orders for customers
  • it is easier to deal with and detect fraud

The steps to accept payments online are:

Step 1: Setting up secure payment processing

Payment processing software is convenient, but the paramount is security. Ensure a secure certificate while setting up the payment processing software. Top-tier hosting partners protect your subdomains and domain. Ascertain the payment software does not store information on payments locally. 

Step 2: Set up debit and credit cards

Debit and credit cards ensure paying for online goods. Small merchants pay around a 3% fee for the transaction. The same payment gateway percentage gets smaller when you start selling more, though 3% is usual. Setting up the cards in these processors is the simplest payment process.

Step 3: Recurring billing setup

Recurring payments are crucial. Major payment processors’ support and recurring billing require access to the credit card details of customers. It is on the local server of the payment processor that decrypts the number during payment processing.

Step 4: Accepting mobile payments

Taking Google Pay and Apple Pay through mobile payments has increased. The online merchant’s site should support mobile phone payments, it attracts users. It is easy to pay and set up.

Step 5: Accepting cryptocurrency payments 

The new kid is crypto. The payment gateways mainstream is accepting cryptocurrencies. Installing payment software for processing from payment gateways specializes in cryptocurrencies. Choose mainstream to accept cryptocurrencies.

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