What is an e-commerce payment gateway service?

 E-commerce payment gateway; anybody can easily get from its name that it is the payment gateway used by e-commerce merchants for cashless payments. It is for those who don’t know that e-commerce is a high-risk business category that needs a high-risk merchant account. The Netherlands is one of the top European countries with the most internet users, So it is not surprising at all that it is the 17th largest e-commerce market in the world with a predicted revenue of US$30,585.8 million in 2023. A market full of customers that’s all a business wants and the Netherlands has it in the e-commerce sector. So let’s now shift our focus from the Dutch market to our article topic.

What is an e-commerce payment gateway, and how is it different from other payment gateways?

As we have mentioned above, it is a payment gateway for the e-commerce business, and that’s all. It does not have anything different from other payment gateways. It is a payment gateway that is used for a high-risk merchant account, so it is obvious that it is a high-risk gateway. A global payment gateway and an international merchant account are the same high-risk gateway and merchant account but are known by different names because of the business’ global nature. In simpler words, it is a high-risk payment gateway for the e-commerce industry.

Features that an e-commerce payment gateway must have

• As a payment gateway solution for the e-commerce industry, a payment gateway has to act like a global payment gateway. The meaning to say this is that an e-commerce gateway has to accept various currencies from different countries and payment methods like credit cards, payment apps, net banking, etc.
• Being multilingual is very important because if one can’t even read, how can one purchase and pay?
• Frauds are pretty easy to commit while making online payments, so it is up to the payment gateway provider to have tools like geolocation, a fraud score checker, a CVV checker, etc.
• In online payments, the authentication of the payment has to be accurate; otherwise, it will mess up the process. This is why a high-risk merchant account must have 3 Domain security for secure and accurate transactions.
• In the present era, some people are always looking for others’ personal information or data to get benefit from it. To avoid this, a global payment gateway must-have features like tokenization and point-to-point encryption.
• ⦁ An international merchant account is used to get online payments across the entire world, and for that, it transmits a lot of data. As proof that a payment gateway can handle it and keep it safe, the payment gateway must have PCI DSS certification.
• Along with the above-mentioned qualities, an international merchant account or payment gateway must have a seamless integration process, 24×7 customer support, and 24×7 live reporting functions for the merchant’s convenience.