Payment Gateways: Keeping Your eCommerce Transactions Safe

Payment gateways are the primary avenue for your eCommerce business to receive money.

And as an eCommerce entrepreneur, you should do everything in your capacity to make the process of payment a breeze for your customers.

The best way to do this is to include multiple payment gateways and make them secure.

In a report published by Thales Data Security in 2018, it was found that 75% of retailers in the US have suffered cybersecurity issues with their eCommerce sites.

In fact, in the same year, a report published by Shape Security said that 90% of total login attempts to online retailer’s websites were illegitimate hacking attempts.

That’s a substantial statistic for any industry.

This makes it imperative to understand the caliber of your eCommerce payment gateways and to protect it from malicious attempts.

Moreover, apart from the security reasons, some of the top reasons for shopping cart abandonment can also be traced back to the quality of your payment gateways.

With so much on the line, finding the right payment gateway that maximizes convenience, minimizes risk, ensures information security, and maximizes conversion becomes a pressing concern.

What Are Payment Gateways?

Payment gateways are merchant services that process credit card payments for eCommerce sites and traditional brick and mortar stores.

According to Investopedia:

Simply put, they are the metaphorical cash register in a digital transaction and like any cash register, it needs to be secure and convenient to use.

Some of the most famous payment gateways include PayPal, Stripe, Square, and Braintree, among others.

How Do Payment Gateways Accomplish Convenience And Security?

Read more here.

Originally published at https://get.store on August 1, 2019.