Payment gateway is the most basic part of Ecommerce business. It's anything but conceivable to work on an e-commerce website without a decent payment arrangement. As online shopping trends are developing with incredible speed in the MENA region. It is necessary to have the right payment solution provider.
WHAT IS A PAYMENT GATEWAY?
Before we delve into the details first I will momentarily clarify what payment gateway is and how it works As indicated by Wikipedia, "A payment gateway is a trader service given by an e-commerce application service provider that approves credit card or direct payments preparing for e-businesses, online retailers, blocks, and clicks, or customary blocks and cement. The payment gateway might be given by a bank to its clients, however can be given by a specific financial service provider as a separate service, for example, a payment service provider."
Factors to keep in mind while choosing the payment gateway
- Security
The first and the premier thing that clients search for when they make an online payment which can't be compromised upon. You need to guarantee that the payment gateway you have coordinated on your portal is safe and secure. It ought to have the option to secure all banks, cards and transactions details of the clients.
- Fees
A vital factor to examine before you choose a payment gateway. Ensure with your online eCommerce store application maker that there are no secret charges that will kill your benefit later. A few passages charge expenses for every transaction while others have a month to monthly subscription. Pick the one that best accommodates your financial plan.
- Customer support
Assuming you are giving all day, every day support for your online store, why not customer support for payment gateways as well? Guarantee a payment gateway with great customer support that can tackle the inquiries of your clients quickly over a call or by means of email.
- Multi-Currency Support
It is important that your payment gateway supports multiple currencies in online business. There is plausible worldwide interest for the product, so in the event that you have multiple currency options, taking payments won't ever be an issue. Also, you would then be able to broaden your scope all around the world.
Top 5 Payment Gateways in UAE
1. TELR
Telr is a renowned payment gateway in UAE. At first, referred to individuals as Innovative Payments, it was subsequently obtained by Telr in 2014. Telr currently upholds individuals in excess of 120 nations and the interesting part about it is that it offers its services even to the developing or non-industrial nations like Indonesia and others.
AED 349/Year, AED 99/Year + Transaction charges, and AED 49/year + transaction charges respectively.
2. PAYFORT
Perhaps the most generally used payment gateways in UAE, PayFort, accompanies no arrangement expense or month to month charges for the starter bundles. All you need is to pay a small amount of
$27 each month for the mid-level account. Indeed, even Its bonus rates are exceptionally low like 2.99% and 2.65%.
In the wake of having teamed up with SOUQ.com, a goliath in e-commerce trade UAE, it dispatched its card-on-delivery (COD) services. Payfort likewise made it simpler for delivery agents to handle the significant cards utilizing the mobile card machines designated to them.
3. CashU
CashU was specifically designed to beat online payment issues in UAE and support online shoppers during the process of online buy what they wish however they see fit. It offers transactions in 13 currencies with no arrangement expenses and approx 7% transaction fee with just 1.00 USD yearly charges for maintenance.
4. CCAVENUE
Started in India, CCAvenue has become a famous and most favored payment gateway in UAE today for individuals occupied with the e-commerce trade. Despite the fact that they have a
zero setup fee, there is an enormous month to month charge of $54.45 with an extra expense of 3% for each transaction.
It's anything but a costly alternative, yet then, at that point there are some free services that you will coexist with like fraud prevention and 24/7 on-call support.
5. CHECKOUT
Checkout has been offering its services since 2010, however it was made accessible to UAE in 2014.
With a charge of $500 as a one-time setup fee, Checkout additionally charges 0.95 % + 2 pennies per transaction for every European card and 2.90% + 20 pennies for non-European Cards.
It acknowledges all charge cards across the globe and offers PCI Compliance, Merchant Account and 100+ popular carts which you can once in a while find in other payment gateways. Also, think about what, it upholds 87 currencies and 15 languages.
Conclusion
There are some other great choices available which you can explore on the off chance that you need or a software company that helps you to choose and integrate. Simply remember that a payment gateway is a vital component for an e-commerce platform. Subsequently, while picking a payment gateway for your online portal, evaluate all the viewpoints and pick the one that best suits you.
