How to Add Payment Portals to Your Website
Start accepting payments like a pro.

Contents

    Do you have a website for your online business?

    Have you ever thought about adding a payment portal to it? 

    The popularity of online stores is increasing now more than ever, which makes it extremely important for your business to have a payment portal on its website.

    This article outlines the benefits of having a payment portal on your websites, how you can add one, along some additional tips and tricks. 

    What is a payment portal?

    Payment portals or payment gateways are technologies that record and transfer payment data from the customer to the acquirer.

    The notice of whether the payment has been accepted or declined is then transferred back to the customer.

    The payment portal validates and authenticates the customer’s payment details securely to ensure the funds are available to the merchant to receive the payment.

    Therefore, payment portals act as an interface between a merchant’s website and its acquirer.

    The payment details and personal information is passed securely from the customer to the acquiring bank, all through a merchant account.

    How does it work?

    Payment portals process credit card information whenever customers make an online transaction on your e-commerce store.

    When the customer makes an order and checks out, the payment portal encrypts the payment details and sends them to the merchant’s account.

    The merchant then sends these payment details to the portal again via an encrypted connection.

    The payment portal then sends the payment information to a payment processor, which forwards the payment information to the card association (Visa, MasterCard etc.).

    The bank that issued the payment card has to authorise this information and send a response code back to the payment processor.

    The response code entails whether the transaction was approved or declined.

    The response code is then sent via the payment processor to the payment portal, which is forwarded to the website where the customer initially made the order.

    Although this process seems extremely technical and complicated, it only takes a couple of seconds to complete!

    Why add a payment portal to your website?

    Increased Sales & Profitability

    Adding more payment methods on your website will instantly generate more sales for your business as customers are given more flexibility regarding how they can pay.

    This allows potential customers to shop comfortably as they can choose the most convenient payment method, encouraging them to keep buying from your business.

    Online payment methods instantly generate an invoice through which you can accept payment from your customer.

    Lastly, there are options where you can add a payment method to your website without any installation fee.

    This not only cuts your costs, but when matched with increased sales, you generate a higher profit.

    Business Growth & Innovation

    One of the biggest advantages of accepting online payments and adding a payment portal to your website is that you can take orders worldwide.

    Not only does this boost your sales, but you also build a global reputation and have access to business development opportunities across the world.

    Not being limited to a geographical location can do wonders for your online website and business.

    Efficiency & Customer Convenience

    Payment portals allow you to benefit from an online invoice generating software that smoothly manages all refunds.

    Having a website that handles all payments quickly and conveniently can increase its popularity, sales and profit.

    You can also use a payment portal to accept tailored subscriptions, making things easier for you as a business.

    Additionally, having an easy payment portal allows businesses to benefit from impulse purchases from customers as they are likely not to complete payment if the process is too complicated.

    Payment Security

    Once a payment portal is added to your website, the financial risks of accepting and making online payments are significantly reduced.

    This protects you as a business and gives your customers more confidence when making payments through your website.

    What Payment Methods Can You Add?

    Depending on the nature of your business, your convenience and the payment methods that your customers most likely use, you can choose to add credit cards, debit cards, bank transfers, PayPal and mobile wallets.

    Step 1: Gather the documents needed.

    Before adding a payment portal to your website, you will need to collect the necessary documents for your application.

    These include your company incorporation certificate, articles of association and memorandum of association, and your company bank account details.

    If your business is a partnership, a partnership deed will need to be provided.

    Step 2: Assess the payment portal services offered by your web host.

    The next thing you need to do is understand what kind of payment support your web host offers.

    This information is usually found on the control panel or admin panel of the web host.

    While most web hosts will offer payment portal integration as part of their service, some may charge you separately for adding it.

    Some of the leading web hosts for payment services include Wix, GoDaddy and GreenGeeks.

    Step 3: Selecting a Payment Portal

    There are two types of payment gateways.

    Hosted Payment Gateway: This payment gateway takes your customer away from your website to another secure site to get the payment and redirect the user bank to your website.

    Examples of hosted payment gateways include Paypal, Amazon Pay and Stripe.

    Non-Hosted Payment Gateway: This payment gateway has APIs and modules that can be integrated into your website. The payment transaction happens automatically on your website.

    Examples of non-hosted payment gateways include Authorize.net, Mango Pay and SagePay Direct Integration.

    Step 4: Compare Fees & Service Charges

    When selecting a payment gateway, you should make sure to see what additional fees and service charges you may have to pay.

    While the integration and set-up fee is a standard charge, depending on which payment gateway you choose, you may have to pay a fee for additional security measures and every transaction, including refunds.

    Once you understand the extra charges and services you are required to pay for, you can only make an informed decision regarding which payment gateway to choose.

    Step 5: Integrate The Payment Portal

    Once you have selected the payment gateway, you can add it to your business website through the web host provider.

    The integration option is usually available on the control panel or admin panel.

    Step 6: Create A Merchant Account

    A merchant account is a business bank account that enables businesses to accept and process electronic payments and card transactions.

    Merchant accounts require a business to link with a merchant acquiring bank that facilitates all communications in an electronic payment transaction.

    Essentially, a merchant account is where money from transactions are held until it reaches your business bank account.

    Therefore, merchant accounts are the middleman between the different card payment processes to ensure that money is securely transferred from the customer account to your business bank account.

    Once you have set up the payment gateway, you must create a merchant account and link all payment methods with it.

    Merchant accounts are regulated and supported by FDIC and come with fraud protection.

    While merchant accounts add an extra layer of security to the transaction, you should always watch for hidden fees and extra charges associated with approving payments.

    Creating Your Own Payment Portal

    Another way you can add a payment portal to your website is by creating your own!

    Depending on your business, having a payment portal that you have complete control of and tailored to your needs can be great.

    Additionally, you will make necessary changes whenever you want, add unique features and avoid paying any hidden fees.

    However, a custom payment portal can be very expensive, which is why you will need to do your research to see whether or not the benefits are worth the price.

    In Short

    There are multiple forms of payment portals and ways you can integrate a payment gateway to your website.

    Depending on your budget and business needs, you can either opt for a hosted gateway or a non-hosted gateway.

    There is also an option to build your payment portal and integrate that payment gateway into your website that is unique from any other service that is readily available.

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