You must invest a fractional amount of time spent designing tweaks to choose the correct payment Gateways in Kenya, bank account, merchant process, and you can save a lot of money through this procedure. The under-analysed and neglected section of establishing your eCommerce business is the backend process of all the payment and delivery procedure of the orders.
Succinctly, a payment gateway is a system used to transfer your customer payment information from your protected website to your protected merchant processor. It is like a terminal that receives, encrypts, and safely transmits the data to your merchant account. Although there are various services to select when picking your payment gateway, it is pivotal to know that your chosen gateway must be harmonious with your eCommerce solution.
However, make sure to get the list of various online payments Kenya your eCommerce solution allows and must contact to learn about their rates and services they are providing. Undoubtedly, PayPal provides all-in-one services where you can get the merchant processor and the payment gateway together. The benefit you can get from this is that you do not have to manage accounts separately.
For instance, from all the services, one of PayPal services possesses a flat rate for national sales depending on your sales volume. In simple words, the more you sell, the less you will have to pay for processing the transaction. The advantage here is inconsiderate of which credit card is used (Visa, MasterCard, Discover, or the dreaded American Express), or whether the card is restricted, you will charge the same flat rate. It is bizarre to PayPal and other all-in-one services.
Meticulously, the payment gateway transfers the encrypted billing data to your merchant processor, who is then liable for routing this data to the credit card channel. The credit card channel verifies the information that your credit card is valid and has enough funds to cover up all your transactions. Then reports the payment gateway, which corresponds with your eCommerce solution. Moreover, if the transaction is approved, the merchant processor will transfer your settled orders to your bank account.
Indubitably, the merchant processor works in the backend system that corresponds with the payment gateways in Kenya, your customer credit card network, including your bank account. It is an elegant way to accept credit cards online. And it is crucial to know whether the merchant processor, bank account, payment gateway and eCommerce solutions work well together.