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Why Are Payment Gateways Important?

Fintech

March 26, 2020

Gone are the days of cash on delivery and bank transfers. With the onset of online businesses today, it is essential to accommodate online payment options for transactions. Selling online comes with the hassle of ensuring that every transaction is secure and fits the needs of your customers. And with e-commerce growing day by day in Egypt, it is essential to understand the online buying process. 

What is a Payment Gateway? 

Before jumping into the importance of Payment Gateways, let us first explain to you what it is. A payment gateway acts as a backbone to the cashless economy. It is an e-commerce service that plays an integral role in allowing merchants to accept credit cards, mobile wallets and other forms of internet transactions securely, by acting as a middleman between your business and the bank. 

As online shopping evolves, payment gateways utilise advanced verification and encryption technologies to ensure legitimate transactions between payment portals and the payment processor used by acquiring bank. 

Why use a Payment Gateway? 

Selling online entails numerous technical and logistical hurdles, security and customer convenience essentials that can only be handled by choosing the right payment gateway. 

Payment Gateways mitigate fraud and ensure customer data encryption, by using advanced tools that detect fraudulent characteristics in transactions, whilst ensuring a seamless shopping experience, which positively impacts customers’ trust, and if incorporated correctly, minimises shopping cart abandonment. 

Payment Gateways help merchants make informed decisions, by creating auto-generated performance reports, which help businesses enhance their operational level of efficiency, and make prompt decisions. 

Merchants are insured instant transactions, when using payment gateways. High-tech features are used to effectively manage payments and save businesses time and money wasted on heavy transactional costs and with a dedicated team at Kashier to support you every step of the way, we 

guarantee you’ll get the best out of your experience from our payment solution system. 

Conclusion 

Payment Gateways provide their merchants with an excellent platform to manage their online transactions effectively, while ensuring a seamless checkout experience for the customer. 

It is important to know the ins and outs before you choose one that suits you and impact your business so do your homework or better yet headout to our subscription page and sign up for a free account to get a better idea here or visit our contact page and someone from our team will get in touch to fully explain our services. 


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