Payment Gateways powerpoint presentation
- 2. Definition of a Payment Gateway A technology facilitating online transactions by enabling the secure transfer of sensitive information between a customer, a merchant, and the bank. Payment gateways play a crucial role in ensuring the security of online transactions and providing a seamless payment experience for both merchants and customers. They support various payment methods, including credit cards, debit cards, digital wallets, and other online payment options. Popular examples of payment gateways include PayPal, Stripe, Square, and Authorize.Net. Why? How?
- 3. . Compliance- adhering to industry standards like PCI DSS. Real Time Transaction- Enabling quick authorization and processing. Fraud Prevention- Detect fraudulent transactions, adding an extra layer of security for both merchants and customers. User Experience- Reducing friction during transactions and encouraging customer satisfaction. Global Accessibility- Enabling businesses to accept payments worldwide. Reports- Valuable insights into transactions, aiding in record-keeping, accounting, and business analysis. Security & Trust- Safe transfer of sensitive information. Integrations- Seamlessly integrating with various e- commerce platforms. Why? How? Customers touse payment gateways Should
- 4. Initiating the Transaction: Customer Initiates the transaction by choosing the payment method. Secure Encryption: Customers Details are encrypted by SSL/TLS protocols. Transaction Request: Encrypted data is sent to payment gateways which is then sent to acquiring bank. Authorization Request: The payment processor sends an authorization request to the card issuer. Approval or Decline: The card issuer responds with an authorization (approved) or decline message. Transaction Confirmation: If approved, the payment gateway sends a confirmation to the merchant's website. Notification: The customer receives a confirmation of the successful transaction. How? Merchant Customer to Does it Work
- 5. Merchant Transaction Notification: The payment gateway notifies the merchant of the customer's transaction. Verification by Payment Processor: The payment processor verifies the transaction details and checks for sufficient funds or credit in the customer's account. Authorization Response: The payment processor receives an authorization response from the card issuer and communicates it back to the payment gateway. Transaction Approval: If approved, the payment gateway sends an approval message to the merchant's website, allowing the order to proceed. Funds Transfer Initiation: The payment processor initiates the transfer of funds from the customer's account to the merchant's account. Payment Gateways API-based Payment Gateways Types of Hosted Payment Gateways Self-hosted Payment Gateways
- 6. Payment Gateways API-based Payment Gateways Hosted Payment Gateways Self-hosted Payment Gateways Businesses Use BASED ON THEIR TYPES Businesses use payment gateways to provide a secure and seamless payment experience for their customers. The integration of payment gateways into the e-commerce process enables businesses to accept a variety of payment methods, maintain security, and streamline the overall online transaction process. Redirects customers to a third-party site. Simplifies PCI compliance for merchants. Merchants host the payment page. More control but increased responsibility. Direct integration into the merchant's website. Requires coding but offers a seamless user experience. PayPal Stripe Razorpay Square 2Checkout Authorize.Net Paytm payment bank Braintree. World pay We Pay Forte Examples of payment gateways
- 7. •PayPal •Stripe •Razorpay •Square •2Checkout •Authorize.Net •Paytm payment bank Braintree. World pay We Pay Forte Payment Gateways Used By ZOHO ZOHO AND PAYMENT GATEWAYS a suite of business applications that cover various aspects of business operations, including accounting, invoicing, customer relationship management (CRM), and subscriptions. ZOHO OFFERS Credit Cards Debit Cards Bank Transfers (ACH- Automated Clearing House/EFT- Electronic Fund Transfer) Mobile Payments Net Banking MODES OF PAYMENT
- 8. FACILITATE ONLINE PAYMENTS: Zoho products, such as Zoho books (accounting and invoicing), Zoho subscriptions (subscription billing), and Zoho commerce (e-commerce platform), enable businesses to accept online payments from customers. Payment gateways provide the necessary infrastructure to securely process these online transactions. Seamless transaction experience: Integrating payment gateways into Zoho products ensures a seamless and user-friendly transaction experience. Customers can make payments directly within the Zoho environment, streamlining the payment process. Automation of invoicing and billing: Zoho products automate various aspects of invoicing, billing, and subscription management. Payment gateways play a crucial role in automating the collection of payments, reducing manual efforts, and improving overall efficiency. Support for various payment methods: Payment gateways integrated into zoho products support various payment methods, including credit cards, debit cards, and other online payment options. Secure handling of financial data: Payment gateways employed by Zoho products use encryption protocols to ensure the secure transmission of payment information, protecting from potential security threats. ZOHO OFFERS Products which can integrating payment gateways to enable businesses to accept online payments seamlessly within their applications.
- 9. Specific gateways for specific region automating payments Testimonials payment gateway with multiple payment options Mobile payment gateways and wallets Strategy to increase adoption of digital payments
- 10. payment gateway with multiple payment options Mobile payment gateways and wallets Accommodates diverse preferences, allowing users to select the option that aligns with their comfort and familiarity, reduces barriers to entry, encouraging a broader audience to embrace digital transactions, enhance user experience, making the payment process seamless and accessible, ultimately contributing to higher digital adoption rates. Streamlines the payment process, eliminating the need for physical cards or cash, accessibility of mobile payments encourages digital transactions. Features like one-touch payments, in-app purchases, and loyalty programs enhance the overall user experience. Strategy to increase adoption of digital payments
- 11. Specific gateways for specific region Automating payments Testimonials Region-specific payment gateways are justified for compliance with local regulations, supporting local currencies, offering optimized features for local businesses, potentially reducing transaction costs, and efficiently handling dispute resolution according to regional regulations. Automating payment processes and updation of payments reduces manual work load and Increases payment promptness by proactively reminding customers, and the inclusion of a direct link streamlines the payment process, reducing friction and backlog. Plays a crucial role in building trust and confidence among potential users Incorporating testimonials into marketing materials, website content, can significantly influence potential users' perceptions and decisions, ultimately driving the adoption of payment gateways.
- 12. THANK YOU Presented by: Niraimozhi Celvan In embracing payment gateways, we not only adapt to the present but also pave the way for the future – a future where digital transactions are not just a convenience but a way of life. Adopting good strategies will pave way for Zoho to improve businesses of millions around the globe. Zoho creating the Gateway to Digital Prosperity