Some Online Businesses and industries are treated as high-risk businesses by payment processing companies. They are categorized as high-risk businesses depending on several factors such as the chargeback ratio of a merchant, times the product is returned or payment processing history.
Many people want to start selling their products online but, there are many questions that run into their minds as to where to begin from? and how to start selling?
Payment gateway is service that is responsible for the authorization of your card details and then transfers the details to the payment processors.
An E-commerce payment gateway is basically the platform that handles the transaction from the user to an e-commerce website. Payment Gateways provides multiple payment modes for the customers so that they can make payment through a mode that is convenient for them like credit/debit card, Net Banking, UPI and more.
Shipping is the most cost- consuming expense, especially for small scale businesses. It is very challenging to reduce shipping charges if your business sells physical products.
payment gateway services are the only way in which you can accept payments through a website or mobile application. They act as a bridge between the transaction that the customer wants to make and the payment processor.