whatsapp payment

Whatsapp Payment Business on Hault

WhatsApp has been testing a peer-to-peer payment service in India for more than a year, its largest user market, but official launch has been delayed by local data storage standards. After a hacking incident involving Israeli spyware Pegasus, Supreme Court gave the central bank six weeks to report on WhatsApp’s compliance with data localization standards as Facebook-owned messenger gears to launch a payment service in the country, a person involved in the case said. The Reserve Bank of India (RBI) told the Supreme Court that the WhatsApp messaging platformdoes not comply with data localization requirements.

The apex bank ordered the Indian National Payments Corporation (NPCI) not to permit the Facebook-owned company to introduce the full-scale payment service in India.

WhatsApp faced an additional challenge as a think-tank based in Delhi, the Center for Accountability And Systemic Change, claimed in a petition to the Supreme Court last year that the company did not comply with the rules on data localization payments.

Related Post: Accept Online Payments without a Website

NPCI operates the Unified Payments Interface (UPI), which last month clocked more than one billion transactions. PhonePe and Google Pay are the leading UPI players followed by Paytm and Amazon Pay.

 whatsapp payment

WhatsApp Payments, based on UPI, has been in beta for a year or so. In 2017, through an invite-only model, the company started testing the payment service in India.  The payment service in India, however, is yet to be officially launched.

Related Post: Payment Gateway for Freelancers

The development comes as RBI had recently been asked by the Supreme Court to update it in August on the data location status of WhatsApp.

The RBI has reviewed the above reports (by NPCI) and NPCI’s responses and is of the view that WhatsApp stores the following payment information elements outside India beyond the timelines stated in the circular and frequently asked questions (FAQs) on storage of payment system data provided by RBI on June 26, 2019, “RBI said, as quoted by Times of India.

Also, RBI has advised NPCI not to allow WhatsApp to go live on the UPI payment system for full-scale operations until it is fully compliant, it added. WhatsApp payments system stores various payment information outside India, including transaction ID, collection demand expiry, and reference numbers for retrieval among other data elements says RBI. WhatsApp has more than 1.5 billion users worldwide, including 400 million users in India alone

smart billing

Smart Billing

Smart billing lets you create custom subscriptions for your customers and receive recurring payments. Generate personalized invoices to receive your customers ‘ payments on time.

We provide an easy-to-use, fast & automated platform for SMEs that charge their customers with rentals to create subscriptions & charge customers based on the billing frequency & billing cycle you create.

Subscription:

Subscriptions are essentially automatic transactions where a customer authorizes a service provider / dealer to auto debit fixed amounts at regular intervals as determined by the contract. Digital payment Guru provides merchants with an automated, trouble-free platform where they can create recurring payment schedules for their customers, monitor the billing cycles and receive instant alerts about subscription activities. The only thing traders need to do is connect their respective plans to their customers and track their subscription activities.

Our recurring model lets you build subscription forms like Fixed billing & Metered billing.

Related Post: Everything you need to know about Recurring Payments

Fixed Billing:

You can charge your customers for the items or products / services that are fixed in this type of billing. You can set the billing frequency and the billing period as per the plan allocated to your customer.

Let’s say you create a one-year plan subscription for your customer. Therefore, for the items/services you provide to your customer, you can set the billing rate to receive payments from your customer. This frequency can be daily, weekly, monthly, yearly, as you choose. The next thing that has set the rate is to set the duration of the billing cycle. This will determine the number of times the customer pays for your service.

For example, you want to create a broadband subscription for 1 year and want to collect the money every month. You will have to set the billing frequency to ‘monthly’ and billing cycle as ’12 months’. Now, your customer will pay you every month for 1 year.

Metered Billing:

In metered billing, according to the use of the products / services you have provided, you charge your customer. The specification of the billing cycle & the billing rate for the billing meter is identical to the fixed billing as mentioned above.

Only difference here is that at the end of the billing cycle, you charge the customer according to the use of your customer’s items / services. So you charge the customer on the last date of his billing frequency, i.e. on the last day of the month, if there is a metered billing subscription for 12 times per month. You can easily add products and update your plan according to the use of the customer and pay it accordingly.

Manage Subscription from Dashboard:

You have a dashboard that allows you to easily manage and track all the subscriptions you have made. Based on your operation, your subscriptions will have certain status. If you’ve just created a subscription and have not delegated it to any client, the subscription will have the status of’ draft.’ Likewise, subscriptions will be given, charged, unpaid, expired, stopped, cancelled.

You can handle all of these subscriptions from a single dashboard. In a few clicks you can even send payment notifications to clients.

Quick Invoices:

Create online invoice and send invoices to your customers quickly via email & SMS and just wait for payments in your bank account. Share the customer invoice payment links and allow them to pay online. It would be easy to prepare an invoice as your customers & products are already made. To start with, you must create an invoice number that will be unique to that specific invoice. In addition, simply select the customer to whom you wish to send an invoice. Pick the billing & shipping address of the customer that you entered (when creating database customers)

Provide Multiple Payment Options for your Customers:

There are often cases where consumers prefer to make partial payments to you. Keeping this in mind, we will allow you to create splits on your invoice’s total amount payable. For example, if your invoice’s total payable sum is Rs.1600, you can build splits of let’s say Rs. 400 each. In this way, your customer can pay the sum of Rs.1600 in 4 splits (each of Rs.400) which will enable your customers to increase their flexibility in payment and retention of customers.

Invoice Management:

From the dashboard, you can easily access every single invoice you build or issue, or just draft & save. You can access and edit the invoices that you created and did not issue to any customer.

Smart Billing advantages for retailers Receive transactions in a timely manner Well-predicted cash flow, Strong retention of customers, Receive fast and safe payments with acknowledgment, Real-time payment alerts.

Digital Payment Guru provides smart billing that simplifies the accounting system efficiently, with ease of operation in a timely manner and removes the manual audit of transactions to a greater extent.

mobile pos

Advantages of Mobile POS

A mobile POS system consists of POS applications that can be installed on Windows or iPad devices, allowing the workers to communicate with customers wherever they are in your shop.

In a recent survey, 52.8 percent of shoppers said they’re searching for tablet-carrying retail staff; meaning they want the best technology for your squad.

So, what market advantages can these mobile point selling systems bring to your company?

Minimise walkouts and showrooming

As soon as your customer walks in your store, they are looking to confirm that the product meeting their requirement is readily available in stock, know the cost of product, and answer some relevant questions to help them decide whether they want to purchase.

Shoppers frequently feel reluctant to reach the counter to ask a question. Most will simply go out (often engaging in showrooming) if you don’t quickly present to them this key decision-making information as they browse your store.

You can intercept the process with a Mobile POS solution and proactively engage the customer, armed with all the information in your POS system to make the sale easier.

The integrated mobile point of sale program empowers the employees to quickly find specific items and to provide real-time inventory availability, pricing and a host of other product information. It will use Google-like fuzzy matching so that workers are assured that their searches will return specific products or provide the closest match to offer a selection of alternatives, increasing the likelihood of winning the deal.

When providing a great shopping experience, the ability to quickly pull up product information and pricing specifics when engaging with the consumer is crucial.

It also allows the employees to close the sale with enticing deals that will not weaken the bottom line.

Where there is no inventory of appropriate items in store, the workers can see what is available in other locations in real time and arrange automatic stock transfers for home delivery and pick-up from other outlets.

You can even integrate in-store display browsing with all the stock in your store network that the customer can search and make quick purchases.

Related Post: Why Refunds take time?

Cross sell and Up sell to maximize the basket size:

An innovative Mobile Point Sale platform allows the employees to engage consumers in the shop they are interested in, and then quickly identify and offer them a selection of up-selling and cross-selling items to increase basket size. Staff can easily identify what items to choose for up-sell / cross-sell is specific to each situation / customer. This takes into account the old stock, the items labelled and the inventory available at other locations or outlets.

Drive named sales and reward loyal customers

Capturing customer information is easy and reliable to see your phone screen and to correct any possible errors on your mobile POS display.

You can encourage the customer to provide these details using built-in loyalty programs. Your staff can then pull up demographic information for occasional shopping / cross-selling on their mobile POS such as age and gender when they visit. For example, they could cross-sell for men and children when they know that a customer has a husband and children. If the customer has a buying history, the sales team can take advantage of previous purchases to suggest items related to past sales.

Related Post: How to prevent online fraud?

Selling via pop-up stores

A mobile POS device is your ideal solution when you sell at trade shows, car park sales, markets or pop-up shops. With the Mobile POS app, stock levels between all your stores, including your eCommerce webstore, are changed in real time, giving you a clear idea of what to sell at any time.

Lower shrinkage in-store

Because your sales team has more time to engage in-store buyers, shoplifting, operational mistakes, and retailer fraud may decrease common shrinkage. With less time behind the counter, staff may concentrate on other sales tactics to boost profits.

PCI DSS

What is PCI DSS Compliance?

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to maintain a secure environment for all entities that accept, process, store or transfer credit card information. The PCI DSS is operated by the PCI SSC, an independent body produced by major brands of payment cards (Visa, MasterCard, American Express, Discover and JCB)

Compliance with PCI is required to secure and protect online transactions from identity theft. According to the PCI Compliance Security Standard Committee, any merchant that wishes to process, store or transfer credit card data is required to comply with PCI. The PCI DSS refers to any entity that receives, transmits or retains any cardholder data, regardless of the size or number of transactions.

In short, PCI DSS is a set of regulations created by major brands of payment cards including Visa, MasterCard, American Express, Discover, and JCB. This scheme allows organizations to meet general data security requirements that must be met by each merchant.

PCI DSS process

Following are the security requirements:

  1. Build and Maintain Secure Network: To protect cardholder data, install and maintain a firewall configuration. Do not use defaults provided by the vendor for system passwords and other security parameters.
  2. Protection of Card-Holder data: Protect stored cardholder data. Encrypt cardholder data transmission through open public networks
  3. Maintain a Vulnerability Management Program: Using or upgrade anti-virus software or system regularly Develop and maintain secure systems and applications
  4. Implement Strong Access Control Measures: Restrict access to cardholder information by business and know how to allocate a unique ID to each person with computer access.
  5. Regularly Monitor and Test Networks: Track all connections to network resources and cardholder information regularly.
  6. Maintain an Information Security Policy: Maintain a framework for the protection of information for all workers
  7. Risks that your organization runs by not having a PCI DSS compliance: Businesses that don’t accept any credit cards sometimes question why they need to follow a safety requirement such as the PCI DSS. In the Payment Card Industry (PCI) world, companies that do not process more than 20,000 credit card transactions per year are categorized as level 4 merchants. This level 4 has the lowest level of compliance requirements and therefore requires the lowest level of compliance effort. However, this tier of merchants is also the most vulnerable to crime and cyber-attacks, according to data from the Payment Card Industry. Seventy-one percent of hackers target small businesses and retailers with less than 100 employees, according to the PCI Security Standards Council (PCI, 2016). In addition to the threat of a data breach, agreements with an acquirer or payment processor can require that your company comply with PCI. This is valid for any company that even accepts a single payment credit card.

 Related Post: Everything you need to know about Payment Gateway

Benefits of PCI DSS: 

Security improvement:

A study conducted by Verizon found that companies that comply with PCI are more likely to resist substantially up to fifty percent of a cardholder data breach. This means that the 12-required PCI DSS is an effective collection of security checks to protect cardholder information.

 

Reduced risks of losing cardholder data:

Compliance with PCI DSS will make you feel confident that you have done all you need to do to protect cardholder data. Also, your customers feel safe, they believe that they provide their confidential data to a trusted company, that’s you.

 

Improved customer relationship:

According to a study conducted by Quirk’s Marketing Research Review, it reported that 69 percent of customers would be less likely to engage in business with an infringed entity. As a PCI DSS-compliant enterprise, you should be able to significantly reduce data breach. This means you’re going to have a better customer relationship. They will see you as a firm committed to protecting their information.

 

Increase in Profit:

Once your customers know that their card details are secure with you due to compliance with PCI, the word of mouth will only increase the number of your customers and ensure that all your loyal customer base will only keep growing. In short, there are more customers, more sales, more income.

 

Brand Image building:

With your company’s strong commitment to PCI enforcement, the brand’s identity would stand out in a very suitable way.

 

Sustain Your Business:

Each retailer has to comply with the norm even with one credit card transaction if it does not comply they will be at high risk. If you are not compliant with PCI DSS, you will be fined and you may also face charges for failing to protect cardholder data. You’re going to lose money and hurt your reputation. This may jeopardize your company. To maintain their presence in this market, being PCI compliant is a must for any company that stores, processes and transmits cardholder data.

 

About the above, we Digital Payment Guru are the payment gateway integrators providing payment gateway integration service for top payment gateways which are PCI DSS compliant. The merchants who use the payment gateway to accept their customers ‘ online payments are assured the security provided to the confidential card-related data of the customer.

freelancer

Payment Gateway for Freelancers

The freelancer business is growing in India, many youngsters are freelancing either part-time or fulltime. In this business there is no fix income scale, thus collecting payment on time from the client is important. A payment gateway will make it easier to collect payments online.

How to choose the best Payment Gateway for Freelancing?

Freelancers in India have the main aim in their mind and that is to get paid on time. A survey conducted by PayPal states that out of every 500 freelancers at least 1 freelancer doesn’t get paid on time.

Some freelancers have also highlighted that they have received payment 2-4 days after invoicing. Expert freelancers have taken measures to tackle this problem by providing offers on early payments and charging fine for late payment.

Following are some problems that are faced by freelancers:

  • Negotiating project prices
  • Payment Collection and payment modes
  • Invoicing

Here’s what you should consider before choosing a payment gateway for Freelancing:

  1. Transaction Fees: Check the per transaction charges for all the payment gateways, compare & analyze and make sure it doesn’t have long term implications.
  2. Security: To know how secure your payment gateway is, read the reviews online on quora or reviewing sites.
  3. Transaction Speed: Check for the total transaction time a payment gateway takes to process the payment. Ideally, it is for 3 days.
  4. International Transaction: If you choosing a payment gateway for freelancing, make sure the payment gateway supports international transactions as you can increase the scope of your business by later on expanding it globally.
  5. Payment Modes: Payment Gateway provides multiple payment options using which your client can send you payment with the desired payment method, thus providing convenient payment.
  6. Transfer Limit: Your client is the one who pays the payment processing fees and not you. So, check the payment gateway with affordable charges as the client will look for the payment mode with fewer charges.

How Digital Payment Guru can help Freelancers?

Digital Payment Guru provides payment gateway integration service of the top payment gateways like PayPal, PayU, Instamojo, Atom and Paytm. If you are confused which payment gateway to choose from, Digital Payment Guru helps you choose the best payment gateway by analyzing your business requirement.

By switching to Digital Payment Guru, you unload your task of choosing the best payment gateway to us.

How we can help?

Following are some of the features that can help you collect online payment:

  • Payment links: The most simple way to accept payments online is by creating a payment link. There is no rocket science in creating a payment link. You just have to click on create payment link in your payment gateway dashboard and set the amount for payment link, now you can share this payment link on multiple platforms like social media, mail, and messages and more.

Related Post: Everything you need to know about payment links.

  • Request bulk payments: Using the payment gateway dashboard you can send multiple payment requests to your client in one click and your client will receive a payment link by clicking on which they can make payment with multiple payment modes.
  • Faster Payout: As mentioned earlier, online payment requires a certain time to reflect on your bank account. Using Instant payouts you will receive payment from a client on time as well as the amount will be reflected in your bank account the same day.
  • Invoice Generator: Get the invoice for all the payments you receive from your clients. This can help you track and manage your payments in the future.

Payment Gateway for freelancers facilitated a clear communication between you and your client, Digital Payment Guru just acts as Payment Gateway provider who integrates a payment gateway into your system (website) and rest is on you, you have to use the dashboard to handle your payments. A payment gateway automates your payment collection process so that you can focus more on your business.

 

online payment without website

Accept Online Payment without Website.

Digital India initiative aims to bring digital empowerment to India. This transition can make India a knowledgeable economy. With the Digital India initiative, Small and Medium Enterprises have seen a higher growth rate over the last decade.

India currently has 48 million SME’s, yet there are a handful of small businesses having a website for their business despite the growth in technology. No matter how small your business is, having a website is very beneficial when it comes to modern-day marketing and exposure.

The need for Website & the cost

For Small and Medium enterprises, mentioning their service or products online on their website to reach more customers is more important than a payment gateway solution.

  1. Professionalism: Having a website creates a healthy impression on people and helps you to establish your brand as a professional service. Without a website, people will not be able to recognize your products or services because it cannot be found online.
  2. Increase Customer Reach: Number of people shopping online has grown over the years. From electronic devices to food and services, people prefer buying everything online because of the convenience and ease. As the website can be accessed from anywhere and anytime, make your business available 24/7. Since more customers are available online, your business reach will increase allowing your business to grow globally.
  3. Cost-Effective: Your website remains active throughout the time which means your website is marketing your products and services when you cannot directly.

On the other hand, for micro to small businesses managing and maintaining a website can burn holes in the pocket. Also, their business plan and financial budget will be affected before they start to run the business.

Also, with a website, there is a need for payment gateway integration into your website to start accepting payments from your customers online. 

We at Digital Payment Guru understand the problem and come up with the payment gateway solution at best rates. We aim to help micro-businesses to grow with having a website.

How Digital Payment Guru can help?

top payment gateways

We have a wide range of Payment Gateways using which you can start accepting online payments with a need of having a website. Below mentioned are some of the products provided by our payment gateway:

  1. Web Store: You can crate products like the subscription model, event tickets, electronic products and more with an integrated payment gateway eliminating the need to create an maintain your website. You can share your website link with your customers or on social media.
  2. Payment Links: Payment links are smart online payment solutions for businesses having no website. You can create a payment link easily and share the link through multiple platforms like social media, messages or emails and more. There are two types of payment links:
  • Pay: It allows the customer to enter the amount and personal details to make the payment. The customer can make payment with multiple payment modes and the amount will be credited into your account instantly.
  • Pay: It allows you to create a payment link with a fixed amount and share it with the customer on different platforms like social media, chat, emails and more. Customers can make payment with multiple payment modes and the amount will be credited into your account instantly.
  1. Bulk Payment Link:  This is the payment link which can be shared across the customer base wherein you have to select the customer base and the link will be shared to all the customer present in the customer base at once. It avoids the hassle of sending the payment link to individual customers. Once the link is shared the customers will be directed to the payment gateway page to complete the payment and the amount will be credited into your account instantly.

Digital Payment Guru eliminates the need of having a website and provides a cost-effective online payment solution for MSME intending to help them grow.

 

online business

5 trending Low investment businesses.

Starting an online business is very much easier compared to putting up an office, hire people and start a business which also consumes a lot of investment. The investment is the primary factor of this blog, we are going to discuss how you can invest less and start earning more without much of a hassle. 

When you think of starting a business online, the word online itself expands the idea as to which online business you should start up with. Whichever business you start online the scope of business increases automatically with the word online. If you think of starting an online business and feel ambiguous, sit relaxed this blog if for you.

We are listing these 5 top trending online businesses you can start now with low investment. 

  1. Online Digital Courses: If you are good in a particular field and want to teach others, make a tutorial video, e-books, training books, webinars and more on your website. There are various tools online using which you can make your e-books videos. Once you are done with creating the videos or e-books start selling it online. You will need a payment gateway integrated into your website to start accepting payments. The course you are selling can be in part or one-time payment depending on the length of your content. You can also sell your e-book or content on other e-commerce sites for more reach and popularity.
  2. Online Marketing Service: Marketing doesn’t require a huge knowledge of tools, market knowledge is what you need to start online marketing services. This is the most trending online business in 2019 as all the businesses out there require online marketing of their products because of the increase in the competition. Marketing service is the business that will never go down as companies cannot succeed without marketing their products or services so you won’t run out of clients. To start this business you can own a static website that google provides for free wherein you can list down all your marketing services with rates. Or you can get a dynamic website built from Ouriken-at affordable price and start accepting payment online with a payment gateway solution for your business.
  3. Content Writing: If you have an interest in writing this is the business you can start easily with very low investment. Companies mostly hire content writers to have quality content for their website to get a higher SEO. Your client can also be students who start a new business and require content for their website. To expand your business you can create an account on freelancing sites or blogging sites. If you see an increase in demand add more members to your team and offer more services like copywriting, proofreading, blogging, magazine writing and more.
  4. Click and Sell Photos: If you are passionate about photography, this passion can get you money by selling your photos online. Many people are willing to pay for good and unique photos that are of their use. You can also upload your photos on Shutterstock which is a trusted photo selling site. You can also upload your photos on your website.
  5. Travel Agent: There are many travel agents out there selling travel packages at best rates, you can start a business as a travel consultant displaying the agents with the best rates to the people so that they do not have to hop from one site to another. The business idea is that getting all the information under one roof and show the best offer to the people or you can start your travel service.

Related Post: How to start an Online Business?

In the world of online business, there are many low investment business opportunities. All these ideas will never scratch your pocket but can only be a secondary source of income. With all the marketing on place payment gateway is something you will need as you are running an online business. Having a payment gateway will help you retain more customers. 

Digital Payment Guru provides payment gateway integration service of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at best market rates. If you are confused about which payment gateway to choose from, we can help you choose the best payment gateway for your business by analyzing your business requirements.

 

 

 

 

UPI payment

UPI 2.0

When it comes to online payments, UPI plays a vital role as it has become the most convenient mode of payment and is adopted by the majority of the businesses. Post demonetization, UPI based payments have been soared in India. According to the report of Inc 42, UPI has seen a massive payment processing hike of about 245 million in the span of 2 years.

UPI has also seen a growth of 78% in the number of banks integrating with it. UPI became the most popular and the most preferred mode of payment because of the following reasons:

  1. Money can be transferred 24/7.
  2. The UPI id acts as an email address for your money which can be shared to receive a payment instead of bank details.
  3. Increase in security.

Related Post: Everything you need to know about UPI payment.

upi payment

NPCI is the organization that handles all the retail payments in a country. UPI is managed by NPCI. An updated version of UPI which is UPI 2.0 was launched by NPCI in August 2018 with the following new features:

  1. Link Overdraft Account: With the existing support for linking savings and current account, now you can link your overdraft account to UPI. Customers can make transactions easily and can avail of all the benefits of an overdraft account. UPI 2.0 has become an additional digital channel for accessing your overdraft account.
  2. One-Time Mandate: UPI mandate can be used in the scenario where money can be transferred later with the commitment at present. Onetime block functionality for transactions is used for creating UPI mandates. Customers can authorize the transaction earlier and can make the payment later. It works for both customers as well as for merchants. Mandates can be created and executed instantly. On the date of the actual purchase, the amount will be automatically deducted and received by the merchant/individual user. 
  3. Invoice in the box: This feature is designed so that customers can check the invoice before making the payment. It will help the customers to view and verify the credentials and also check if it has come from the right merchant. Customers can pay once they have finished validating the details. 
  4. Signed Intent/QR code: This feature allows the customers to check the authenticity of the merchant by scanning the QR code. It notifies the customer with the information about the merchant stating whether he is a verified UPI merchant or not. Customers will be notified in case the merchant is not verified UPI merchant.

Related Post: Recurring payment via UPI or Credit card?

With its new features on offer, UPI 2.0 has a lot on offer. From a consumers point, UPI can be used to book taxi, pay for the medicines at pharmacy, pay for groceries or pay for investment an lot more. With the increased popularity of UPI will reduce the market for wallet.

Digital Payment Guru provides payment gateway integration service of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at best market rates. If you are confused about which payment gateway to choose from, we can help you choose the best payment gateway for your business by analyzing your business requirements.

Reasons for Online Payment Failure.

Digital Payments in India has started becoming a primary platform for businesses to make and receive payments for the services they provide. With the development of Internet Technology, there is increase in the scope for digital payments. For the customer who make an online transaction through any mode of payment have an immense amount of trust in digital payment, in this case payment failures can be frustrating as putting their bank details online is not a joke.

Payment failures can happen because of an error on users side, it can also be called as an incomplete payment. Error at users end can be incorrect card details, incorrect OTP, or insufficient funds in users account.

Consider an example, Son wants to make an online transaction and he chooses debit card option to make the payment. The debit is registered with his dad’s details and to authenticate the transaction an OTP will be sent on the registered number which belongs to his dad. The OPT needs to be entered within 15minutes failed to do so the transaction will be timed out and will be considered as an incomplete transaction.

Payment Processing:

The payment processing takes place in the following way:

payment process flow

When a customer makes a payment, there are several steps that are executed while transferring the payment to merchant. Even a single glitch between these steps can cause payment failure. In the entire payment process where the customer, merchant and banks are involved, failure at any one end can cause payment failure.

Related Post: What is Online Payment Processing

The payment failure can be caused due to:

  1. Bad Internet Connection: For the transaction to execute successfully a stable internet connection is necessary. If the internet is fluctuating, the payment process is affected and closing the payment window during the process can cause payment failure or incomplete failure.
  2. Authentication Failure: Entering wrong card details cause Authentication failure. Sometimes the OTP is not received on time and the session timed out, this can cause incomplete payment. Online payment requires the user to enter things manually which is time consuming at times and also increases the chances of wrong input.

Following errors occur for the transaction failure:

  1. Transaction cannot be authorized: If the password or OTP is wrong.
  2. Signature validation failed: When the 3d signature is wrong. 3d signature is used by the buyer to validate the transaction made by the user.
  3. Payment not captured: Due to insufficient balance in account or due to incorrect CVV.

 For Example: If you are making a net banking transaction, there are two passwords for the entire process. 1st password if for login into the net banking portal and the other is for authenticating the transaction. If even one password is wrong the transaction is failed. This is similar to the manual error that occur during the UPI payments or card payments. The amount is not deducted form your account and you receive a message that “payment cannot be processed”.

  1. Technology Failure: Online payment process has several steps for the merchant to receive payment from the customer for his products or services. (issuer bank, acquire bank, payment gateway). While proceeding with the payment you need to choose the payment mode like Credit/Debit card and fill in the details. Once you finish filling up the details the data is sent to payment gateway system which then transfers the data to a bank associated with a card. Bank creates request with payment system like visa or master card depending on the card used. These payment systems check if the customer has required amount on balance to pay for the purchase, if yes the bank directly connects with the merchant and the amount is transferred to merchants account within several days. Failure at even one step can cause can cause payment failure.
  2. Downtime: If there are several transaction happening through the system and the payment gateway is unable to reach customers bank to approve the transaction, the payment fails. Downtime of the issuer, acquire bank or payment gateway of merchant can cause payment failure.
  3. Security: Issuing bank have an aggressive fraud detection technique that block the transaction that they feel are not normal to customers spending behavior. This is done by analyzing the transaction history of customer and the transaction is blocked If it doesn’t conform with the customers past spending behavior.

Related Post: Why does Refund take time?

There is no worry if the amount is deducted from your account on payment failure. Your amount is going nowhere, it will be refunded to your bank account after the bank analyses exactly on which step the payment process failed.

Digital Payment Guru provides payment gateway integration service of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at best market rates. If you are confused about which payment gateway to choose from, we can help you choose the best payment gateway for your business by analyzing your business requirements.

benefits of payment gateway

Payment Gateway features you can use to grow your business.

If you are running a business and think of growing it, payment gateway is something you should definitely think of. Payment Gateway Integration is very much beneficial for businesses now a days as it has certain features than can help you grow your business. In this blog lets discuss about these features and how it can benefit you.

  1. Recurring Payments: recurring paymentsThe most hectic task for any business is to collect repeated payments. Recurring Payments feature helps you manage repeated payments easily. You can ask your customers to subscripe to recurring payments. Once setup, you don’t need to send payment reminders to your customers, the amount will be deducted from customers account on fixed date every month and transfers to your account automatically.

Related Post: Everything you need to know about Recurring Payment.

  1. International Payments: international paymentsIf you plan to expand your business globally, Payment Gateway can help you collect payments from around the globe. Expanding business globally can help you increase your business reach and generate more revenue. Payment Gateway provides multi currency support as customers would want to come back if they can make payment in thier own currencies. 
  2. Same Day Settlements:same day payment Small Businesses rely on daily sales to manage their cash flow and plan out things accordingly. As merchant have to wait for the amount to be reflected into thier bank account from the merchant account it becomes difficult for them to manage the cash flow. Same day settlement feature helps you get the money into your bank account on the same day when the customer makes payment. Thus having a payment gateway can help you manage your cash flow and plan out things accordingly.
  3. Payouts: If you are running a business at times it can happen that you might get very much busy with work and forget to release the payments to different account and by the time you realise bank hours are over and all that you can do is wait for the next day to make the payouts. With Payouts feature you can not only send bulk payment to different accounts using various online payment options but also track the payment and download the transaction reports at same time. This can help you manage payments and grow your business.
  4. Update bank account yourself: If you ever wish to change the bank account, there is no need for you to worry about upload the documents again or calling the customer care, you can simply update it by loging into your payment gateway account and updating the bank details and you are good to go.
  5. Customer Service: customer serviceCustomer Service plays a vital role in online payment cycle. It assists your customer if at all they are stuck in between of payment process or have any queries related to payments. Customer service can also help you in customer retaintion.

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With the Integration of Payment Gateway into your website you can automate your payment procedure and increase your business reach which can help you growing your business.

Digital Payment Guru provides payment gateway integration service of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at best market rates. If you are confused about which payment gateway to choose from, we can help you choose the best payment gateway for your business by analyzing your business requirements.