A
payment gateway guarantees the security of the data you put in. Here is a
rundown of things that a Payment Gateway does to protect your information:
First
things first, the entire transaction is carried out through an HTTPS web
address. This is not the same as the HTTP as the S in the HTTPS represents
Secure. The transaction happens through this equivalent passage.
Because
of the hash function, the system often uses a signed request from the merchant
to validate the request of the transaction. This signed request is a secret
word, which only the merchant and the payment gateway know
To
secure the payment page result of the process, the IP of the requesting server
is verified to detect any malicious activity
Virtual
Payer Authentication (VPA) is something that the acquirers, issuers and the
payment gateways are backing to secure the process even more. VPA, implemented
under the 3-D secure protocol, adds an additional layer of security and helps
the online buyers and sellers to authenticate each other easily
Benefits of using a payment gateway
Utilizing
a payment gateway is not just for transferring money, but it has other advantages
as well. A Payment Gateway can allow a merchant to give the user get a better
experience.
PCI-DSS
Wallet – The PCI-DSS compliance makes it sufficiently secure to permit the
client to store their own information in the portal or gateway for recurring
payments. For example, if you are a frequent customer of a shopping site, then
you can save your bank or card details on their site or app, and the gateway
will keep it secure from any cybersecurity threat
White-Label
Wallet – Some payment gateways allow you to make digital transactions through
mobile wallet apps. This is the current trend, as it enables the user to make
all his transactions by just sitting at one place. You can bring in your money
from the account balance to the mobile wallet app and then further use it to
make payments on other apps or websites
Fraud
Screening Tools – Many payment gateways provide you with fraud screening tools
to reduce the risk of losing information. These tools include the Card Code
Value (CCV), Card Verification Value (CVV) or even the Address Verification
Service (AVS). These tools ensure that there is no fraudulent transaction
A
payment gateway focuses on creating a secure pathway between a customer and the
merchant to facilitate payments securely. It involves the authentication of
both parties from the banks involved.
The
most significant advantage of a payment gateway is the fact that it allows
millions of users to use it at the same time, making it possible for you to
purchase or sell goods and services whenever you want.
Empower your business with Foloosi Payment Gateway!
With
the simplest integration, completely online onboarding, feature filled checkout
and classy performance; quickly go live with Foloosi (UAE online payment
solution) and experience the future of payments.
