Payment Gateway Solutions for UAE E-Business StartupsApril 19th, 2016 by Admin Backup
Online shopping is kind of a new way of doing commerce as compared to the past conventional style. You just need a click to put your preferred item into the virtual shopping cart. Payment is the integral part of that transaction. Without a proper payment channel, your customer cannot pay you, that means no business at all. If you are willing to commence a startup that is based on e-shop or ecommerce, then it is highly recommended to focus on the Payment Gateways that your customer will be using in the future.
How to define Payment Gateway
Payment gateways are the authorizers of the payments in favor of the businessmen that are conducting their commerce online. They assure that the payment received by means of credit card from the customer, is authentic. It is not available for the systems that operates on the cash on delivery or any other cash payments. It is simply a bridge a between the bank of customer and the bank of businessmen. It is not confined to the credit or debit cards but also available for the services like western union transfer or prepaid cash cards. It transfers the information between the various payment portals and the bank.
Payment Mode that Facilitates Business
There are various methods and modes available for the Customers to pay to the store. Cash on delivery is the very old methodology that has been used. In the modern times, mostly customer prefer to ay from the credit or debit cards. Bank Transfer is another preferable option along with the western Union Transfer.
What Solutions are available for Startups?
For the startups, it is important to concentrate on the setup of a reliable and authentic payment system form which they can receive their revenues with no uncertainty. In UAE, the commencement cost of starting a business is extremely high. If any startup is willing to integrate the credit card payment system, then it will cost them a fortune. Getting a license or registration of your business as online, costs you around 20,000 AED. Here are some of the solutions:
1. Offsite Payment methods are available for the startups to navigate the customers to the direct site of the payment gateway. PayPal is the example of Offsite Payment method.
2. With proper PCI compliance and the service of API, local payment gateways can be used.Share it