WhatsApp Pay in the World of Payment Gateway Integration

Posted on May 15, 2019 | by dpgadmin | 12 Comments

Brace yourselves for a digital revolution that is promised to change the face of digital payments today. With the perfect combination of speed and convenience, WhatsApp Pay is set to venture into the world of Payment Gateway Integration on its app by July of this year. Imagine how convenient it will be to send and receive money while chatting with your friends. By doing so, WhatsApp has cut down on various mediums and has integrated everything into one place.

What is UPI and how does it facilitate WhatsApp Pay?

Unified Payment Interface or UPI is an online payment system that runs in real-time. It allows peer-to-peer bank transfers through a mobile platform. WhatsApp Pay is an additional in-built feature rolled out by WhatsApp that is facilitated by the Indian government’s secure UPI payments system. It allows the transfer of funds directly between the bank accounts of its users within the app itself. All the transactions take place in real-time and reflect in the bank account instantly.

How WhatsApp achieved this?

With 1.5 billion active monthly users across 180 countries in 2017, WhatsApp stands strong as the most popular messaging app today and has an ever-growing market. In 2018, WhatsApp sent out a request to the Reserve Bank of India (RBI) for approval to provide online payment options to users in India. It is working closely with many banks across the country including HDFC Bank, Axis Bank, and SBI to offer quick and easy payment solutions with just a click. WhatsApp then rolled out WhatsApp Pay as a trial for around 10 lakh users all over India.

What are the perks of using WhatsApp Pay?

Say goodbye to shuffling between apps to transfer funds to your friends! With WhatsApp Pay, you can easily send or receive money from anyone in your contact list. Payments will be a breeze when you use this UPI-based feature. Once the transfer is completed, both the sender and receiver will get a payment notification in their chat window as a confirmation. The transactions are directly linked to your bank account which makes it easy to keep track of your funds.

How is WhatsApp Pay beneficial to WhatsApp?

With an already wide user base, WhatsApp has a huge market ready for the launch of its payment feature. Since it does not require the user to put cash into the WhatsApp account or complete the tedious process of feeding in the KYC details, users are bound to prefer WhatsApp payment as a resort to their digital payment options. Integrating a payment gateway into WhatsApp is sure to become one of the smartest decisions taken by Facebook.

How to activate WhatsApp Payment?

To successfully transfer funds, users need to follow these simple steps:

Use a phone number that has a country code for India. This number should be registered with the UPI-supported bank account you intend to use.
Go to the ‘Settings drop-down and search for the ‘Payments’ tab within the app.
Users will next be asked to add a bank account. Select the bank through which you wish to make the transaction from the given list.
Next, you will be asked to accept the terms and privacy policy of WhatsApp Payments. Ensure that you go through them before you hit accept.
You will receive a text message that will verify your mobile number. Wait for a few seconds and you will see a list of all the bank accounts registered with the phone number you entered. Select any one from the options to continue.
You then need to verify the debit card details that are linked to your bank account.
Enter the one-time password sent to your mobile number and set up a six-digit UPI PIN.

If you cannot find the ‘Payments’ option from the ‘Settings’ drop-down, all you need to do is find someone who has activated the WhatsApp payments feature and ask them to send you funds.

How to start sending funds through WhatsApp Pay?

After setting up your details, you are now ready to send and receive payments through WhatsApp Pay. Follow these steps to send funds to anyone from your contact list:

Open a chat with the person you intend to pay to and tap on the ‘Attachment’ option on the text bar.
Enter the amount you wish to transfer. You can send money ranging between INR 1 to INR 5000.
Enter the six-digit UPI PIN that you had set up earlier.
After processing your payment, the money will be sent to the contact.
Once you see two ticks, be assured that your money has successfully been transferred.

You will see a similar notification when you receive online payments through WhatsApp Pay. Keep a record of the online payments by going to Settings à Payments à Viewing History.

WhatsApp is about to bring a revolutionary change to the digital payments space. This will give a tough time to other competitors like Google Pay and Paytm. The beta version alone has received such positive feedback in India that the world is ready to welcome WhatsApp as a mode of digital payment. This will cut out the need for third-party apps and offer an easier, better online payment experience. So go on and set up your WhatsApp Pay account now and experience an enhanced method of digital payment.

To know how to choose the best payment solution for your company click here.

WHAT? HOW? & WHY? about UPI- Unified Payment Interface

Posted on May 9, 2019 | by dpgadmin | 12 Comments

What is UPI?

Unified Payment Interface (UPI) is a single platform that provides different banking services and features. If your bank is UPI enabled, you can create a UPI ID that can be used for making transactions. A transaction can be made using an Aadhaar number, Mobile number, and Virtual Payment Address (UPI ID). UPI allows the user to transfer and receive money from one bank account to another by using a smartphone. It enables the transfer directly from a bank account to the merchant and also handles basic banking activities. UPI is a revolution that can be an alternative to e-wallets, in other words, UPI is the best thing in the online money market.

UPI is a creation of NPCI & RBI and is an initiative by P.M Narendra Modi.

How to Use UPI?

For using UPI service on your mobile phone you just need to set up UPI ID which is linked to your bank account. There are many mobile applications that provide UPI facility, and UPI ID can be set up from these applications. UPI IDs have the same format for all UPI-enabled applications. The format is “XXXXXXXXXX@upi”, wherein XXXXXXXXX is the number followed by @ and then followed by the application from which you’ve built your UPI ID. So if you build a UPI ID from Paytm it will be, “XXXXXXXXXXX@paytm”. It is also possible to create your own unique UPI ID.

Once you’re done with creating UPI ID the further procedure remains the same for all the mobile applications which are providing your mobile number. After providing your number an SMS is sent for fetching your bank account details. Make sure the mobile number you enter is linked with the bank account for which you seek UPI service.

Your UPI-enabled bank account will be displayed on the screen, just confirm the band details and then you can set up a 4-digit PIN, this pin will remain the same for your bank account across all the UPI-enabled applications.

UPI-enabled Banks:

UPI is the most convenient feature, many banks in India have integrated UPI payments facility into their platform. UPI facility is available through its own app. It can be implemented into their own banking app or a separate app.

There are many UPI-enabled apps, the ones listed below are the most popular,

State Bank of India- SBI Pay
Kotak Mahindra Bank- KOTAK Pay
Syndicate Bank- Synd UPI
Punjab National Bank- BHIM PNB
Bank of Baroda- Baroda PAY
Axis Bank- Axis Pay
Indian Overseas Bank- IOB UPI

Why UPI?

When there are so many e-wallets, payment gateway, and online payment options available, why is the need for UPI then? Well, UPI is unlike all of these options, this initiative by NPCI eliminates the need for e-wallets and entering credit/debit card details and remembering passwords. UPI contradicts the current procedures of e-wallets and Net banking which are prone to hacking and malfunctioning, UPI is more secure. UPI is a great alternative for e-wallet for the following reasons,

Easy Usability:

Unlike e-wallet which involves several steps for money transfer, from adding the money from the bank account to the wallet and then paying the beneficiary from a wallet, it is a lengthy process, UPI is directly linked to the bank account and thus the payment is done directly from the bank account which eliminates the hassle of adding the money to wallet and then making payment giving the payer complete ease of payment.

Increased Adoption:

Many e-wallet apps have already started adopting UPI services into the application. Paytm has implemented the UPI service into their application. UPI is very much useful in transferring funds, It can be used to pay the driver’s salary or can be used to pay for goods or services. UPI platform lightened up after the launch of the BHIM app and later on apps like Google Tez increased the value of UPI in the online finance market.

No KYC:

E-wallet has this requirement called Know Your Customer(KYC) after the introduction of which e-wallets have faced a fall in payments. Whereas for UPI, KYC is not required and thus is preferred by many customers.

Incompatibility:

In e-wallets, KYC is a lengthy process because of which e-wallets have faced a fall in the volume of payments, but even after completing the KYC, you cannot transfer the money from one wallet to another.

UPI has become a central point in the process of the cashless India Initiative. UPI will transform the economy into a stronger, more independent, and purer one.

Digital Payment Guru provides the merchant with a facility in one of the payment options wherein the buyer can pay a merchant with UPI with lower transaction rates.

How Does Payment Gateway Charge?

Posted on May 2, 2019 | by dpgadmin | 2 Comments

If you are having an online business or planning to start an online business, a payment gateway is something that you will definitely need for accepting online payments. But when it comes to the payment gateway or any service integration, one question that comes to our mind is ‘What are the FEES?’.

Well, no service comes for free nor does payment gateway, so how do they actually charge?

When you choose a payment gateway service provider from a payment processor like Paypal or Paytm, the payment gateway is provided free of cost, which means that the code for the payment gateway is provided for free and the code needs to be blended into your website. These payment gateway processors do not provide integration service, you need to get the payment gateway blended into your website with the help of your website developer.

Usually, Payment Gateway has its own set of fees,

Setup Fee:

It is a one-time fee charged by the provider for setting up the payment gateway account and integrating the payment gateway with your website.

Annual Fees:

The payment gateway can charge you annually for the plugins, features, and support that it offers.

Transaction cost:

The payment gateway can charge you for every transaction that your customer makes. The charges are a certain percentage of every transaction plus a fixed amount.

Some payment processors do provide integration service at a cost, If you are looking for a payment gateway, You must have come across the term “One-time setup cost” which in simple words means payment gateway integration charge, wherein the payment processor does not just provides you with payment gateway but also blends it with your websites making it ready for payment acceptance.

If it is for free then how do payment gateway providers get paid?

So once the payment gateway integration into your website is completed and your website is ready to accept online payment, this is when the payment gateway providers start getting paid. Payment gateway charges you a certain percentage (1.5%-3.5%) on every transaction that your customer makes. The charges differ for a mode of payment like Debit/Credit card, UPI or NetBanking, and more. Following are some charges from reputed payment gateways.

PayPal – 2.5%* + Fixed fee (INR 3)

Paytm– 1.75% + GST

Instamojo– 2% + Rs 3 fixed

PayU– 2% + GST

How is Digital Payment Guru different from others?

Digital Payment Guru is a payment Gateway integrator providing integration services for different types of businesses that want to start accepting payments online. What makes

Discounted Rates:

Digital payment guru provides the payment gateway service at the cheapest rates compared to that available in the market.

Variety of Payment Gateway:

Find different payment gateways in one place, compare the rates, and select the one that suits your business.

Customized Payment Gateways:

We provide a customized payment gateway that can be tailored according to your website and need.

Consultation:

Our team of experts having years of experience with payment gateway integration can help you choose the best payment gateway which is suitable for your business.

Integration service:

Unlike other payment gateway service providers, Digital payment guru offers the integration service at the best rates which is a one-time cost with customer support.

Website Audit:

We conduct an entire website audit for you to ensure that the payment gateway works properly and also to find any errors in existing functionalities that can be resolved.

How is Payment Gateway different from Payment Aggregators?

Posted on April 24, 2019 | by dpgadmin | 3 Comments

Are you running an online business or planning to start one? You should have financial solutions for your online business to accept payments for the services or goods you will provide. The payment gateway is definitely something you will need, Meanwhile many merchants prefer payment aggregators because they provide a wide range of services and is beneficial in context to fees charged for those services.

What is a Payment Gateway?

Payment Gateway is online software which makes handles online payments with multiple payment modes like Credit/Debit cards, net banking, and more, It acts as an intermediate between a customer and merchant, the customer makes payments for certain goods offered by the merchant through the payment gateway.

What Are Payment Aggregators?

Payment Aggregators are basically service provider which allows the merchant to accept payments through multiple modes like credit/debit cards, Netbanking, and more without having a need for a merchant account. The term ‘aggregators’ denotes merchants are grouped together to opt for a merchant account which is controlled by a payment system on their behalf of them, whereas a merchant account, on the other hand, is owned and controlled by the merchant themselves. In other words, Payment Aggregators allow the merchant to collect the amount without setting up a merchant account that is connected with a bank.

How do Payment Gateway and Payment Aggregator work together?

It is a misconception that a payment gateway is the alone involved in an online transaction, Payment gateway handles only the data involved in the transaction and there are banks that work behind the scenes to issue merchant accounts. There can be too many merchants applying for a merchant account and willing to process payments. In such a situation, the bank has to handle both the underwriting process as well as the transaction of multiple merchants which becomes difficult. This is when a payment aggregator is needed; Payment Aggregators go through the underwriting process with acquiring banks and process payments for many merchants. Well, a Payment Aggregator can offer a Payment Gateway but a Payment Gateway cannot offer a Payment Aggregator. PayU and Instamojo are some of the payment gateway aggregators that provide payment gateway services to different merchants at a specific rate. Payment gateway service provider charges fees to the customer on behalf of the merchant and then transfers the money to the merchant account within a stipulated time period according to the payment aggregators, normally it is 3 days.

Payment Gateway vs. Payment Aggregators

Payment Gateway and Payment Aggregators both are different but interlinked, which means, payment aggregators need not act as payment gateway but payment gateway does need aggregators.

Payment Options: The payment gateway in India allows the merchant to accept the payment through available options that are integrated into the portal, whereas Payment Aggregators allow the merchant to collect payment with multiple options like bank transfer, e-wallet, and the latest is UPI.
Small Business: Payment gateways use Payment aggregators when it comes to small business because small business finds the transaction fees charged by a single payment gateway high and aggregators are beneficial in context to the cost for services.
Intermediates & Interface: The payment gateway acts as an intermediate between the customer and merchant, the customer makes payment through a payment gateway for certain goods/services provided by the merchant. Aggregators act as an interface for the intermediates(Payment gateway) to accept payments and make settlements.
Ownership: Payment gateways are owned by Payment Aggregators who cater payment processing for online businesses.
License: Payment aggregators require payment aggregator licenses and security certificates like PCI DSS from the Payment card industry. Payment Gateway requires RBI authorization for setting up a business.

How are Payment Gateway and Payment Aggregator beneficial for Small Businesses?

Payment Aggregators are preferred by the small business as they are cost-effective for microtransactions, and payment gateway integration becomes easy for small businesses when catered to by aggregators. Payment Aggregators tend to become a payment processing platform for small businesses because of their minimal or no startup cost and fixed rates.

Benefits of Payment Aggregator over Payment Gateway.

Ease of Application: Applying for a merchant account is a time-consuming process that involves a lengthy application and underwriting process, it includes a credit check, PCI compliance check and also close inspection of your business model. Whereas with Payment Aggregators there are minimal requirements and compliance checks.
Faster Approvals: For Payment Aggregators, approvals take a few days making it suitable for a small business where time is a constraint.
Get paid instantly: Once the application processing is done, the merchant can start accepting payments through multiple payment modes like Credit/Debit cards, Netbanking and more.
Simple Fee structure: Payment Aggregators are beneficial for small businesses making microtransactions as the cost per transaction is minimal with aggregators. So it is easier for the merchant to shell out processing fees.

What Is Online Fraud And How To Prevent It?

Posted on April 17, 2019 | by dpgadmin | 2 Comments

Have you shopped online? Online fraud is what you can come across if not aware, Online fraud is false deception intentionally made for financial gains. Online frauds are of different types:

Online Spoofing
Online Phishing.
Triangulation fraud.
Data Theft
Chargeback fraud.

Online Spoofing:

Spoofing is the creation of spam emails that look genuine and trick businesses to take action. No one would knowingly download a Trojan package into the system unless provoked to do it by putting fake popups on security threats for the system. How it’s done? Well, genuine-looking mail is created with corporate graphics of reputed service providers which will guide you on how to protect your business. This professional graphic makes the mail look genuine and tricks businesses to click on the link in the mail. This link executes malicious software which harms the operating system and critical files, it expands through the network and affects clients as well.

How to prevent Spoofing?

-When you receive such suspicious emails best thing to do is hover over the senders’ address, hackers have a domain name that is very much similar to legitimate domain names, so check for spelling mistakes.

-Legitimate institute never sends an attachment like .exe, .bat, or zip, check if the email has an attachment. Red flag the mail and do not follow any instructions written in the mail.

Online Phishing:

Phishing is a form of Spoofing but unlike Spoofing where attackers tend to break into the system and fetch information, Phishing is tricking the end-user to reveal sensitive information wherein a genuine-looking message is forwarded to the end-user which consists of a fake website link. This link redirects the end user to a bogus website that asks for sensitive account-related information. Revealing this information can harm your financial assets.

How to prevent Phishing?

-There is no problem in clicking on the links when you are on a trusted site, but when it comes to clicking on the links within the email or message you need to be 100% sure as these links can be spam links. Before clicking on such a link hover over the email and check if the links direct to what it actually shows. Do not fill in any personal data on such sites as it can be a lure to steal your data.

-Install Anti Phishing tools on a browser as these tools scan the entire websites and check with a list of phishing sites. If you visit any malicious sites the tool prompts immediately, do not visit the site.

Triangulation fraud:

Triangular fraud as the name suggests involvement of three people,

Customer who places an order.
Fraud seller.
Genuine E-commerce site.

How fraud is done? A legitimate-looking website is made by a fraud seller who displays some items at very low prices, which makes the customers buy the products. The customer is unaware of the fraud happening and places an order on this fake website. The fraud seller has stolen credit card information which he uses to make the purchase of those products for which an order has been placed on his fake website. He purchases these products from a genuine website. The customer receives all the updates with the respective product from the seller. The seller sends these updates from a genuine site to the customer.

Who is the criminal? The seller with a stolen credit card is the criminal.

Victims? Well, there are two victims, the customer, If the fraud is discovered, the genuine website will contact the customer to return the stolen products.

and the person whose credit card details were used for transactions is a victim as he is unaware of those transactions.

How to prevent Triangulation fraud?

-Speak with the customer who doubts suspect triangulation fraud, and gather as much information as possible about the seller to determine the fake website.

-Focus on the products as the seller has some list of common products which sell very frequently, this can help to analyze the pattern of fraud.

Chargeback fraud:

Chargeback is the term used for an order from a bank to a business to return the amount paid for a fraudulent purchase. How is a chargeback fraud done? The customer makes a payment through a payment gateway for certain goods or services, later on, he/she claims that the purchase was made fraudulently or makes a false request that the goods were not delivered and claims for a chargeback. When a transaction seems legitimate then chargeback is the only way to get the money back.

How to prevent Chargeback Fraud?

The customer claims a chargeback for many reasons so the first step will be to identify the reason for a chargeback. Sometimes the customer can claim a chargeback if the description doesn’t go with the product when delivered. So work on the description to avoid a chargeback.

-Use delivery confirmation to ensure that the product has been delivered to the customer, at times it happens that a customer is not at home and the package is left on the porch which can be stolen, so for you, the item is delivered but the customer did not receive the product for which chargeback can be claimed.

Why Do Your Refunds Take Time?

Posted on April 11, 2019 | by dpgadmin | 1 Comment

If you shop online then you might have faced the following situations,

You return an item and the money was promised to be credited within 5-10 working days.
The amount is debited from your account but the order is not placed.

You expect the refund to be reflected in your account immediately, then why does it take so long?

Well, this blog explains what exactly happens behind the scenes and what you should be doing as a customer to get your refund. The two cases mentioned above are the instances when a refund request is created. Let’s discuss these instances one by one.

1. Customer raises refund request to online business for returned goods.

Customer purchases certain goods online which he/she then returns for some reason like poor quality of goods. The customer raises a refund.

What happens next is a return request is made by an online business via its payment gateway. The payment gateway then transfers the information to the acquired bank via API. The acquiring bank (bank associated with the online business ) communicates with the issuing bank (bank associated with the customer with which payment was made) and raises a refund request. Further, the request is accepted, filed, and processed by the issuing bank and after the process is completed the refund is reflected in the customer’s account.

Though the process seems simple on paper, it is a complicated process as the information exchange takes place between 4-5 different parties and there are many such refund requests raised, thus it takes 5-10 days for the return to reflect in the customer’s account. Sometimes it can take more than 10 days if the return request gets dropped due to System/Network failure and the request needs to be initiated again.

2. The amount is debited from the account but the order is not placed.

The customer makes an online payment for certain goods and services, he successfully checks out making the payment through a payment gateway for desired goods and services. But the order is not placed and the amount is debited from the customer’s account. The customer claims a refund.

How does the payment process work?

There are several steps and parties involved in the entire online payment process,

A website from where the customer makes payment.
Payment Gateway using which customers will make payments.
Acquire a bank (bank associated with online businesses).
Issuing bank( Bank associated with the customer).

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 the payment gateway system which then transfers the data to a bank associated with a card. Bank creates requests with payment systems like visa or master card depending on the card used. These payment systems check if the customer has the required amount on balance to pay for the purchase, if yes the bank directly connects with the merchant and the amount is transferred to the merchant’s account within several days.

Impact of failed payment:

Two-factor verification is the most relevant step when it comes to payment processing. After two-factor verification is completed a payment request is made to issuing bank which debits the required amount from the customer’s account. Issuing bank confirms the status of payment to the acquiring bank. The customer then receives the notification regarding the payment via a payment gateway.

Why Does Payment processing fail?

The payment process can fail at any step during its communication from one party to another,

Failure of payment can occur due to network or system failure as the customer should be connected to the internet until the entire transaction is completed.

There are almost 4 parties involved in the complete transaction process. Payment can fail during the communication of issuing bank with acquiring bank or can fail during the communication of the payment gateway with the acquiring bank. There are several infrastructures on which online payment systems work most of which are not that optimized to handle such issues.

Role of Payment Gateway in the refund process.

The payment gateway’s role is to check for the status of payment with the acquiring bank, payment gateway’s job doesn’t stop if the payment status with the acquiring bank is ‘failed’. When this happens, the payment gateway keeps polling the acquired bank for the payment status that is updated as ‘Failed’ and has changed to ‘Successful’. If the status is changed then the online business where the transaction was done is informed and is given two options,

To collect the payment and deliver the goods/services for which the payment is made.
Not to collect the payment as it is no longer in the position to serve the customer for any reason like goods for which the payment was made are no longer available. In this case, the amount will be refunded to the customer within 5-10 business days.

Do not worry about the failed payments and refunds, the amount deducted will always reflect back to the mode of payment selected while making payments. If the payment is made using a digital wallet then the amount will be refunded to a digital wallet and not the bank account.

So shop online and stop worrying about failed payments as you have knowledge about what happens behind the scenes!

Payment Links Made Simple – Even Your Kids Can Do It!

Posted on April 3, 2019 | by dpgadmin | 28 Comments

The adoption of digitization in India has created a need for effortless and accessible means of digital payment to benefit businesses of all sizes in a cashless economy. Using digitization to transform business operations reduces or even eliminates processes that do not require human intervention. Also using digital payment reduces the efforts of standing in a queue to make a payment to the client. Small businesses like home-based businesses that deal in cash and do not have any website or online store can manage payment methods with as much ease as their online counter partners. So the question arises how this can be done? The answer to this is to address all these traditional methods, the straightforward way to do this without investing in payment infrastructure is with Digital Payment Links.

What are the Payment Links?

Payment links are web links that are securely generated and by clicking on which customers can make an online payment. Payment links provide ease and flexibility of payment for sellers as well as customers. A seller can receive payment in three simple steps:

Create Link: Payment links can be created individually or uploaded in bulk via API or Dashboard. Details like amount, receipt number, and link expiry can be managed with flexible solutions.

Share Link: After creation, the payment link can be shared through SMS, Email, Facebook Messenger, Whatsapp, and more.

Get Paid: Digital Payment Guru’s payment gateway services provide the built-in checkout method with support for multiple payment methods Credit/Debit cards, Net Banking, UPI, and more, thus reducing the payment barrier and increasing business reach.

To know more about payment links reminder click here.

Benefits of Payment Links:

Less chance of fraud and robbery as no cash is held on premises and for every transaction customer receives a receipt and email, and all possible information on the transaction. Also, the payment goes directly into the bank account so there is a low risk of robbery.
Relief from cash handling fees from the bank and the trips to banks to pay it. The transaction can be done from the mobile phone thus reducing the efforts of standing in a queue and no physical activity is done in the transfer process thus eliminating handling fees.
More marketing opportunities by collecting customer data for future use.
Average spending tends to increase. As we have access to the entire amount in the account, spending increases as one can spend until the account goes nil unlike traditional cash, one can spend only the cash he/she is carrying.

Drawbacks of payment link:

Potential customers that would like to pay with cash may be excluded. As some people in India still feel cash payment is safe than online payment.
Processing fees are likely to increase if the cash is withdrawn altogether. Payment providers charge service fees so if the amount is huge the charge will be more.
Privacy for the customer is less. Many times credentials can be leaked while typing as someone can peek into the phone.
Technical Problems can cause online payment methods to go down.

Digital Payment Guru provides a customized dashboard for managing links, checking payment status, and getting real-time data insights to manage the business better. Payment links are very well suitable for all businesses whether online or offline. Payment link effortlessly links into business ecosystems and supports the host of used cases like:

Small Business: For small and traditional businesses which do not have a website or an application payment link is the best way to start accepting payment links online.

Alternate Payment use case: Payment links can be used in cases such as cash on delivery or partial payment.

Chatbot integration: The implementation of chatbots is increasing for better customer experience and to provide all the technical support to the customer. Thus chatbot implementation can resolve many issues that customers are having with online payment.

Social Media Business: Running a business on WhatsApp? An easy solution to initiate payment online is by using payment links. Payment links can be shared easily on all the social media platforms like Facebook, Instagram, and many more, using which customers can make a quick payment.

When it comes to the online payment ecosystem, payment gateway integration plays a pivotal role, and choosing the wrong gateway for accepting payment from the customer can lower the entire payment process. Thus payment gateway should be picked that suits your business.

Digital Payment Guru is a team of payment gateway experts having years of experience with several banking institutions. We target to bring all MSMEs online by implementing the best digital payment gateway integration system and providing world-class experiences that are easier, quick, secure & affordable, thus generating innovative opportunities & sustainable living. We assume every business design deserves to be on the Internet to flourish.

How To Integrate Payment Gateway in Mobile Applications?

Posted on March 26, 2019 | by dpgadmin | 2 Comments

Life has become simpler with the use of cashless payment methods like debit cards or credit cards, these tiny cards allow us to spend enormous amounts without any struggle and thus have become an addictive process. Being a convenient method, it has now moved to mobile apps and websites concurring the entire online business. Without a doubt, mobile phones are the leading edge of technology in this revolution. Customers find it handy to shop from mobile thus having a mobile app for your business can help increase revenue. If you want to have a mobile application involving payment operations and you know nothing about payment gateway then you are at the right place, continue reading till the end to find out what is a payment gateway. In this blog, we talk about what is a payment gateway and how it can be integrated into your mobile application.

What is a Payment gateway?

Well, 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. The app cannot directly connect to payment processors for security reasons thus payment gateways are required.

How does Payment Gateway work?

Firstly internet connection is required to access the payment gateway service. 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 the payment gateway system which then transfers the data to a bank associated with a card. Bank creates requests with payment systems like visa or master card depending on the card used. These payment systems check if the customer has the required amount on balance to pay for the purchase, if yes the bank directly connects with the merchant and the amount is transferred to the merchant’s account within several days

What are the things to consider before Integrating Payment Gateway?

Merchant account: A merchant account is a must for a seller as it temporarily holds the amount received from the sales in the app and then transfers it to the regular bank account. If a payment gateway is integrated into the application then the provider will first verify the transaction and send it to the merchant account. There are two types of merchant accounts.

Dedicated Merchant Account.
Aggregate Merchant Account.

A dedicated Merchant Account is custom-made for business transactions, it is suitable for individual business owners or merchants. But implementation of a dedicated merchant account requires an additional expenditure which causes difficulties for someone tight on budget.

A user can easily manage funds and expenses but the disadvantage is that it takes a longer time for the purchase process and does a deep inspection of the credit check.

Aggregated Merchant Account is where all the money from other businesses is stored altogether like a bank which is shared among several people. To connect with an aggregate merchant account you need to provide so information about your company and the type of product you intend to sell. The process is far less complicated compared to a dedicated merchant account. The disadvantage is that it gives less control over how long it takes to get your money.

Ease of Payment Gateway Integration: The process of integrating the payment gateway has to be simple which is possible if the developer SDK is simple and takes minimum developer time for integration and the updates are easily handled by the merchant.

The SDK must be light to ensure it occupies minimum space in the user’s mobile.

User-friendly UI: User Interface of the online payment gateway must complement the overall brand language. UI must be such that customers can make a transaction without any conflict. The bank pages should be mobile-friendly. There should be the least number of steps for completing a transaction.
Payment Analytics: Analytics helps to figure out actual problems, this helps to optimize the payment experience in the app. There are several aspects of online payment such as payment failure, Double payment, refund, and more. Analytics helps to identify all of them and thus should be considered while integrating a payment gateway in the app.
Customer Support: Customer Support helps in addressing issues related to payment integration and post-integration. Merchant overlooks for customer support, A payment gateway should provide an effective solution to all payment-related queries. For instance, the best payment integration service providers offer customer support for all payment-related queries and ensure that they are resolved in the shortest possible time.
Payment Receipt: After every transaction, the customer must receive a confirmation mail regarding the transaction, this helps in building customer trust. The payment gateway has direct access to transaction status and thus status should be shared with the customer. Payment receipt helps in building brand engagement for the merchant.
Features and Plugins: All the payment gateways have different features and plugins which differentiate them from each other. These features help in optimizing the payment experience to provide a better payment interface for customers. Card saving is one of the features where customers’ card details are saved for future purchases. Another feature is auto OPT reading wherein customers need not have to type in the OPT manually the payment gateway automatically reads the OTP from user’s mobile thus reducing the chance of manual error.

When it comes to choosing a payment gateway for your mobile app, consider all the factors from customer support, and analytics to features, and choose the one that is closest to your business needs.

Digital Payment Guru is a team of payment gateway experts having years of experience of years with several banking institutions. Our target is to bring all MSMEs online by implementing the best digital payment gateway integration system and providing world-class experiences that are easier, quick, secure & affordable, thus generating innovative opportunities & sustainable living. We assume every business design deserves to be on the Internet to flourish.

Technology Trends Impacting Small Business Payments

Posted on March 25, 2019 | by dpgadmin | Leave a Comment

The rise of affordable and innovative small business payment solutions has surfaced the playing field between small companies and large corporations.

Instead of having to spend lots of money on solutions that are regularly needing to be upgraded, payment innovation has given enterprises of all sizes access to the latest technology and the same processing charges as the biggest players in the marketplace.

With that being said, many small business owners are convinced to use old payment systems and outdated technology. If you aspire to break out of the status quo and embrace the future of tech.

Here are five payment trends you might want to consider:

Mobile POS

Mobile, mobile…mobile. We’re stressing this one because this trend is here to stick — in considerable part due to its ever-evolving possibilities. From mobile payment apps and integrated mobile payments to mobile POS terminals, small firms can get quite a bit of bang for their buck by implementing a mobile payments strategy.

To begin, mobile credit card processing is a way for small businesses to worry less about where they’re physically conducting business, and concentrate entirely on what type of payment experience they’re providing their customers. This includes features like the capability to text/email receipts and the opportunity to integrate better, faster, and more secure payments.

Beyond the convenience perks, mobile POS solutions provide enhanced safety measures to fully protect your business and your customer’s data. Eventually, mobile payments give you that extra peace of mind.

Digital Payments

Speaking of mobile, the next trend prolongs to the other side of the payment innovation equation: Digital payments. Customers today are catching onto the latest payment trends, and many have started ditching the need to pull out a credit card for every purchase. Digital payment methods have enabled quicker, more secure payment processing that streamlines the online shopping journey.

Various big businesses caught onto digital payments years ago. Small businesses need to follow suit if they want to find a competitive and stay ahead of what customers are expecting now. From in-app payments, one-click payment buttons, and P2P payments, small businesses have a number of opportunities to take benefit of in order to better tailor their payment options for their customers.

As credit card crimes continue to dominate news headlines, consumers are looking toward businesses that rely on better payment technology. Obtaining this can be done using digital payment terminals that offer end-to-end encryption and tokenization. Digital payment methods extend the same security benefits, while also granting cardless ways to pay for products and services. For consumers who don’t want to grab that credit card each time they make a purchase, integrating digital payment methods is a surefire way to fill that gap.

APIs

Fortunately, with easier and more efficient integration options now in the market, SMBs can – and should – take full advantage of the power of APIs. Today, there are solutions that make receiving in-app and online payments easier than ever before.

Toolkits, drop-in code, and readily available tech support — like that provided by Digital Payment Guru — is the type of technology that small businesses should be harnessing today. Payment processing services shouldn’t be confined to what offerings your financial institution can provide to your business.

The API trend and recent innovation have encouraged small businesses to integrate more dynamic payment processing features across all of their channels. This technology transformation has also helped businesses connect their in-store and online software so that each system is in sync with the other.

Automation

Another key trend that companies should take advantage of is the ability to automate services — including payments. From recurring billing to subscription services, small companies can find tons of undiscovered value by leveraging automation to streamline payment processing.

Automation can also help businesses rightly connect with their customers. Having the ability to constantly communicate with your customer base is one of the best ways a small business can stay top of mind. Consumers aren’t always going to remember to come back to your physical or online storefronts — you’ll need to nudge them with reminders. Frequent communication can be automated to help you reach customers without investing heavily in mass advertising platforms.

On the payment processing side, manufacturers that already leverage recurring billing services have learned the power of automated payments. Not only does this help keep consistent revenue flowing into your business, but it can also help keep your best customers loyal to your brand. Consumers are eager to regularly engage with their favorite brands, products, and services, but often forget to do so. Solve that by taking the hassle out of the process and offering your consumers a way to become a subscriber. They remain connected to your brand, and you constantly get paid. That’s a payment tech trend that’s absolutely here to stay.

A few essential tips for choosing an online payment will help you avoid the trend affecting your business.

To know if your payment is secure on the internet click here.

Digital Payment Gateway for Successful E-Commerce Business

Posted on March 25, 2019 | by dpgadmin | 1 Comment

When you pay a business using an electronic medium, it’s called an online digital payment gateway and the application that carries out this process is termed digital payment gateway integration.

The increasing use of Internet-based banking and shopping has seen the growth of multiple e-commerce payment systems and technology has evolved to enhance, improve and provide secure and safe e-payment transactions.

Paperless e-commerce digital payments have revolutionized payment processing by reducing paperwork, transaction costs, and personnel cost. Also, there are many options available in the market offering companies a cheap payment gateway. These digital payment systems are user-friendly and utilize less time than manual processing and assist businesses to extend their market reach.

The best Digital Payment Methods of e-commerce in use today are:

Credit Card

The most famous and common method of payment for e-commerce transactions is through credit cards. It is very easy to use and the customer has to simply enter their credit card number and expiry date mentioned, on a small plastic card with a unique number attached to an account, in the appropriate field on the merchant’s website. To increase the security system, improved security measures, such as the use of a card verification number (CVN), have been included in online credit card payments. The CVN method helps identify fraud or cheating by matching the CVN number with the credit card holder’s details. When a shopper purchases a product or service via credit card, the credit card issuer bank pays on behalf of the buyer and the shopper has a certain time period after which he can pay the credit card bill which usually has a monthly payment cycle.

Debit Card

Debit cards are the second-highest e-commerce payment method in India. Shoppers who want to pay online within their budgetary limits prefer to pay using their Debit cards. A debit card, just like a credit card, is a small plastic card with a unique number linked with the bank account number.

With the debit card, consumers can only pay for obtained goods with the money that is already there in their bank account as opposed to the credit card where the outlay that the buyer spends is charged to him and payments are done at the end of the billing time. This is the principal difference between debit and credit cards is that the amount gets deducted from the card’s bank account directly and there should be adequate balance in the bank account for the transaction to get completed; whereas, in the case of a credit card purchase, there is no such requirement.

Smart Card

It is a plastic card fixed with a microprocessor that has the consumer’s personal details saved in it and can be loaded with funds to perform online transactions and instant payment of bills. The funds that are loaded in the smart card decrease as per the usage by the shopper and should be reloaded from his bank account. The smart card is again similar to a credit card or a debit card in looks, but it has a tiny microprocessor chip installed in it. It has the capacity to save a customer’s work and personal details. It is best when traveling to foreign countries for leisure or business trips. They are accessed using a PIN that every customer is assigned. Smart cards are secure, as they store data in an encrypted form and are less expensive. Smart cards can only be Smart cards are secure, as they store information in an encrypted format and are less expensive/provides faster processing.

To know how to choose the right payment solution for E-commerce click here.