A Short Guide about Magento 2 Payment Gateway for E-commerce

Just like POS used in brick-n-mortar stores, payment gateways let Magento 2 E-commerce stores accept online payments. The primary role of gateways is to send requests to the payment processor and get responses to the customers. In addition, the payment gateways make the online transactions secure as all data is encrypted before passing through the link between the web store and the payment processor.

How to Select a Payment Gateway?

Payment gateways are crucial for an e-commerce business as it deals with customers’ financial details. A single issue with the payment process can cause disaster for a merchant, particularly when financial or personal data is leaked. If you want Magento 2 payment gateway integration smooth, keep the following considerations in mind:

1. Do you want to sell products internationally? If so, the payment gateway needs to support multiple countries and their currencies.
2. Are out-of-the-box gateways sufficient for your business? For multiple reasons, shoppers prefer different payment gateways. Hence, the more options you provide, the more convenient it will be for customers and it grows business ROI & conversion rate.
3. How appealing is the UI of the gateway? Inconvenient gateways can cause trouble for the shoppers thus ultimately dropping the purchase idea.
4. Does it support mobile payment? The number of mobile users is growing at a very fast rate and is expected to cross 1 billion users by 2020 end. So, only mobile payment gateways are worth choosing. Look to hire Magento 2 developer having expertise in mobile E-commerce store development & customization service.
5. Does it adhere to PCI standards? Select only those payment gateways that comply with the industry needs, to ensure that the customers’ data is securely processed as well as stored.

Benefits of Having Multiple Magento Payment Gateway

For e-commerce brands, the biggest challenge is to meet the ever-evolving market necessities. Online entrepreneurs don’t have to concern at all and can consult Magento 2 development to add different payment gateways or extensions to serve specific needs. The reasons for integrating two or more payment gateways by brands are:

Business Expansion- Targeting the international market means working with different banks and currencies. As the E-commerce brand grows, more target markets are covered.
Backup- Customers must not experience any malfunctions with the store performance, not to mention the payment process. Integrating multiple payment gateways is a great way to back up an online store. The cost of multiple gateways is justified when the primary gateway is under-performing.
Customer Satisfaction- A store owner selects Magento 2 payment gateway integration for his or her online selling store. The choice is not always static as customers always look for multiple options. Offering multiple options means more chances to meet customer needs.

With so many benefits of payment gateway E-commerce store, it is highly important to integrate payment gateway for growing the conversion rate and customer engagement.

Frequently Asked Questions

Is Magento Commerce a payment gateway?

Payment gateways make it simple to accept the credit card payments straight from the store. Magento Commerce supports different payment gateways that offer store owners the services in all parts of the world.

Does Magento 2 support save credit card extension is helpful?

Magento 2 Saved Credit Card extension allows the merchants to save the customers’ credit card info for the offline activities as well as smooth checkout for the future payments. Credit card information is saved in an encrypted manner. By using the saved credit card details a user can process the order in both online and offline manner as well as at later stages.

How to change the payment method in Magento 2?

Open the “Sales” tab and click on “Payment Methods” to easily access all default payment methods. Open “Bank Transfer Payment” to configure it on the E-commerce store. Here you can find different options to configure the payment method. Option to enable or disable the bank transfer payment method is also present.

How do I add PayPal to my Magento 2?

You can easily perform PayPal integration:

• Log in to the Magento 2 Admin Panel.
• Open Magento 2 Configuration Page.
• Open Payment Methods.
• Select Target Country.
• Configuration of PayPal.
• Basic PayPal Settings.
• Advance PayPal Settings.
• Save the Configuration.

How to choose a payment gateway?

• Select the appropriate payment flow.
• Select the correct product.
• Make your customers feel safe and secure.
• Consider fees and service agreement wants.
• Ensure fast transactions.
• Make checkout simple on all devices.

Conclusion:

With a properly managed Magento payment gateway, an E-commerce store can easily outnumber its competitor in terms of sales and consumer loyalty. It completes the payment in a proper manner by simply securing the payment details if checked by the user. Hence, if you are looking to integrate payment gateway, just get it integrated by hiring Magento 2 developer. The best part of having experts onboard is the availability of Magento Support in case of any trouble with the payment processing. They will complete the work as per your business requirements within the dedicated time-frame.