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A payment gateway is an e-commerce application service provider service that authorizes credit card payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets. So why is it is important to have a payment gateway provider when it comes to an e-commerce website?
Although its easy to simply offer cash on delivery as a payment option, its a risk based business. This works out to be even worse when you do not have your own delivery fleet.
Certain industries and products have a higher chance of a return when a end user receives it, which means that should you offer cash on delivery as an option — the cost of logistics and delivery is something the seller has to take on as a cost even if a user rejects to accept the delivery of their purchase. Collecting payments upfront leads a seller to judge if a user is serious about the purchase, and also offers a confirmed sale where the chance of a cold return is much less.
Finally, if a seller has a sensible return policy in place, they may choose to refund an amount after deducting shipping costs. There are some great payment gateway providers in the United Arab Emirates, and on an international scale that can facilitate the collection of payments via credit cards for your online store. Here is a list;. Established in , www. Network is more than a online payment gateway provider, they facilitate the transactions from POS terminals and many other such solutions are offered.
Cybersource is an international firm which is part of VISA. Hence, the range of products and solutions offered by Cybersource go beyond the digital space. Should you need to use a solution that has a global reach, has partnerships with various acquiring banks, and can support enterprises and merchants in retail then Cybersource is worth looking into.
Perhaps the most popular solution for ecommerce merchants, Payfort offers a range of products and services too. Their core offering is the online payment gateway and they support startups and enterprises too.
Startups can start with a zero setup fee, but pay a fixed monthly fee of AED Rates start with as low as 2. Innovate Payments have been around in the UAE since Telr supports over currencies and offers various integration methods.
There is an upfront payment to get started with Telr for ecommerce merchants, and if you do not choose that there will be monthly fee. A well documented integration guide, lower rates for processing, great support and a lot of information on their website is how we see Checkout. Rates start as low as 2.
They offer a zero setup fee, but this makes other charges come in place. They have been in business in South Asia for a long time and hence have the necessary tools in place for fraud protection and security. The story of a true startup itself is White Payments. A single enthusiast that took up a challenge for himself to create a better payment processing solution. With a few bumps on the way, White is still small but with big dreams.
With no setup fees and no settlement fees, White has a fixed rate of 4. As of 29th June , White Payments has been acquired by Payfort. Read all about it on an article on Wamda: Payfort acquires White to build dead simple payment solutions to startups. Paypal is always the solution that comes to mind first for anyone wanting to transact online.
Rates for payment start with 3. As a user, you can still pay with your paypal account on any website accepting Paypal. They do transfer to a UAE bank account and rates start from 3. As we described in our blog post previously too, there is a lot to do when you have a ecommerce website.
A lot more needs to be done before collecting payments, but the part about making sure that our money rolls in is something that has prime importance. Choosing a payment gateway that supports your venture is important, but you must evaluate and choose the one that is most suitable for you. Do not judge with the rate offered only, make sure you have asked questions about settlement fees, transfer fees, exchange rates, charge back rates, refund fees… etc. Interested in learning how digital marketing can help grow your business?
Let's talk over coffee, we enjoy solving a challenge. The conceptualize blog The list of payment gateway solutions in UAE. Hello, it's Tuesday, April 3, today. This post is now deprecated — the information listed here may be old news. All comments on this post will remain, however new comments will not be accepted.
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