you cannot help but integrate Online payment gateway, when designing an e-commerce website. That is how to create convenience and satisfaction for your Online customers. At the same time, it is also a way to assert the professionalism in the service you provide.
What is Online payment?
Online payment gateway is essentially an application software that allows e-commerce websites connected to payment channels such as banks to create a tool to help their customers, those with credit accounts or other Credit cards can pay the bill immediately upon purchase on the website.
Normally, Online payment gateway is used for e-commerce websites, however, some retailers still apply because they realize the convenience of this service rather than card scanner.
Types of payment gateway Online
There are 2 types of Online payment gateway based on the location of the transaction processing code
- Merchant Side API: In this category, the transaction processing code is located on the server of an e-commerce website and accesses the payment gateway with an application programming interface (API). In this form, e-commerce websites will be granted an account type called Merchant Account, which is a point of payment acceptance, allowing business owners to accept payment by credit card. Payment process can be made through this account.
- A Secure Order Form: This is the more common way. It redirects customers to the payment gateway provider’s website. After the payment is processed, the customer is returned to the original e-commerce site.
Note when choosing online payment gateway
There are many payment gateways for business to use. Here are some notes before choosing the appropriate Online payment gateway:
- Compatibility: compatibility between the necessary technology platform for your payment gateway and your shopping cart technology is needed.
- Guarantee: Choose the online payment gateway with the highest guarantee and always follow up to detect any fraud.
- Service prices: From the benefits brought to businesses, online payment gateway has become an attractive service that every e-commerce website needs. And of course, now you need to consider whether the price is suitable for the current needs of your business or not
- Simplicity and customization: Some Online payment gateways support simple operations but very limited customization. Some other services you can customize according to your wishes but the operation is quite complicated. Choose the type of service that is right for you after careful consideration.
Top popular online payment in Vietnam
Currently in Vietnam, there are many reputable online payment gateways with a simple process, supporting the payment of domestic e-commerce websites.
- 123Pay: is a service of VNG Joint Stock Company. 123Pay Online payment gateway can connect with most domestic banks from large to specialized banks such as Vietcombank, BIDV, Eximbank, … 123Pay also opens many forms of payment through ATM cards, Visa cards, Master Card, JCB and Internet Banking. Thus, users can flexibly choose and ensure the payment process is not entangled.
- Ngan Luong: This service provider is Ngan Luong Joint Stock Company, a member company of Hoa Binh Solution Joint Stock Company. The service operates on nganluong.vn website.
Since 2009, Ngan Luong Online Payment Gate has been granted intermediary operation by the State Bank of Vietnam, becoming one of the leading online payment gateways for e-commerce websites.
Nganluong.vn operates on the model of PayPal payment network, providing services for both buyers and sellers.
- Payoo: Impressive with how new it works. On the one hand, Online payment gateway Payoo has signed a cooperation agreement with service providers such as Internet, electricity, water, cable TV, credit loan, etc. on the other hand, they are associated with convenience store chains. Online payment gateway provides the convenience for people to quickly pay for their service fees, or those who cannot use the Internet can pay at stores 24/7 near their home.
- Smartlink: belonging to Smartlink Card Services Joint Stock Company.
Smartlink is the joint child of Vietcombank and 15 other joint stock commercial banks in order to professionalize and diversify support services as well as handle non-cash payment transactions.
In the world
Check out these online payment gateways if you want to develop your e-commerce websites into foreign markets:
- Authorize.net: was born in 1996 and up to now, Authorize.net is arguably the most searched online payment gateway service in the world.
- Paypal: Launched after Authorize.net 2 years, is the most popular online payment gateway and accepts payment by credit or debit card. Buyers are free to use Paypal. However, the store owner must pay a simple forwarding fee of 3.4% + 0.3 USD when paying by credit card via Paypal. Paypal does not require any monthly fees.
- SecurePay.com: Launched in 1997, SecurePay.com offers online shopping cart, e-check service and mobile payment acceptance
- 2Checkout.com: offers its services in more than 196 countries. 2Checkout.com accepts payment by credit card, Paypal and debit card. And the best part, it does not require you to pay any setup and monthly fees.
- First Data Corporation: Is the oldest online payment gateway today, providing a high-quality service. It includes credit card debit cards, gift cards and many other prepaid card services. However, to use this payment gateway you have to pay a relatively high transfer fee.