A payment gateway is a method through which customers make payments to online stores and businesses for products bought and services rendered. There are many options of payment gateway available. But, the payment gateway costs money and will charge per transaction.

Choosing the right payment gateway is very important. It can make the whole process seamless and also easy on your pocket.

Before you integrate a payment gateway to the website. You would require a business account. For a business account, you must incorporate a business entity as a private limited or LLP(Limited Liability Partnership). You must figure out under which category your business falls.

Once you have incorporated the business, you must have the following document-

If you are wondering, what does the payment gateway do?

Payment Gateway is a very part of online transactions for businesses online. It is a front technology responsible for taking the customer information, processing and sending it to the bank for confirmation. Once the payment is confirmed, it shows the customer the receipt.

There are numerous payment gateways available, which can be very confusing. You must choose a payment gateway that your shopping cart supports. Some of the widely used payment gateways in India are-

Find out the payment gateway fees and conditions. The payment gateway will charge you a one-time setup fee, a monthly fee, and a nominal fee for each transaction processed. There are two types of gateways- direct and external gateway.

The external gateway will direct the customer to another website to process the payment. Whereas in the case of the direct gateway, payment processing will take place within your website.

Once you have decided on the payment gateway, sign up as a merchant and provide the necessary information.