4 most-advanced features your payment gateway must have
The rise of digitization has leveled the playing field, presenting a plethora of opportunities for ambitious Indians to be their own boss and venture into entrepreneurship
New Delhi : The rise of digitization has leveled the playing field, presenting a plethora of opportunities for ambitious Indians to be their own boss and venture into entrepreneurship.
Starting an online business has now become easy, letting Indians sell remotely. However, in order to ensure success and longevity of an online business, aspiring entrepreneurs need to have the right tools in place.
One of the fundamental requisites for the same is having a robust and advanced payment gateway. It needn't only facilitate transactions without but also guard a business against fraudulent transactions, cyber hacks and more.
Here's taking a look at the most-advanced features that your payment gateway must have:
1. AI in safeguarding transactions: Telr Secure
AI has emerged as one of the most ground breaking technologies of the present generation. Leading payment gateways are finding interesting use-cases of this revolutionary technology in safeguarding online payments. For instance, with Telr Secure, one of the leading payment gateways- Telr has utilized artificial intelligence to offer an anti-fraud algorithm. This algorithm monitors every transaction in real-time, checking it against any markers of fraudulent transaction. Thus, the advanced software not only stops fraudulent transactions from happening but also improves the success ratio of genuine online transactions. Furthermore, it ensures the safety of online data against hacks and offers the highest level of PCI DSS security.
2. Multiple language and currency support: CCAvenue
With the digital mediums, geographical boundaries are no longer of much consequence. With online selling facilitating cross-border trade, it is important for the payment gateway to support multiple language and currencies. With CCAvenue, entrepreneurs will get exactly that. It supports 27 major foreign currencies, letting buyers pay in a currency they are comfortable with. Furthermore, the checkout page supports 18 Indian and international languages, thus providing a global reach.
3. Automatic OTP feeding: RazorPay
One-time-passwords are necessary for ensuring security and validating the transactions. However, having to switch from the app to get the text message, briefly remember the OTP and feed it - all under 60 seconds tend to get overbearing. However, with RazorPay, merchants can solve this pain point for their users. Its feather light SDKs doesn't warrant customers to enter OTP manually. Integrating RazorPay is easy as well, requiring only a few lines of coding.
4. CVV less transactions: PayUBiz
Having to enter and re-enter card details could be a major bugger for online shoppers who are clearly racing against time. However, with PayUBiz, online businesses can offer their repeat users a freedom from the same. With CVV-Less transactions, repeat customers needn't input their CVV over and over again.
These are some of the leading advancements that payment gateways of today offer. Since your online business deserves the best, carefully handpick the power-packed payment gateway.