Want a simple solution for digital payments?
PayTrace Payment Gateway lets merchants accept payments from the customers without any constraints. The pandemic has brought a great hike in online transactions and customers sharing their sensitive details on trustworthy platforms. Contactless transactions can be done using different methods like card payments or sending a link for payment completion. PayTrace Payment gateway Magento 2 is extremely easy and makes the payments process effortless for the consumers.
How does a Payment Gateway work with Magento?
Once the customer clicks on the submit button the app or website initiates the payment process. There are many Magento extensions that record transaction requests, encrypt sensitive data and send it to payment processors, such as Magento 2 Custom Checkout Fields. It is then transferred to the bank which decides if it is approved or not based on the customer details. The payment gateways act as a bridge between customers and banks to provide seamless online transactions.
Once the customers place their order and reach the checkout page.
The website takes you to a payment gateway where they add relevant information about their payment choices. The user is directed to a secured page where the transaction is authorized by the bank servers.
After the approval of the customer’s transactions the bank checks for sufficient balance in the account to complete the transaction.
The payment gateway then sends a response accordingly. If they reply with a ‘No’ then an error message is sent to the customer with the details of the issue with their bank account or card. If the response is a ‘Yes’ then the merchant seeks a transaction from the bank.
The bank then settles money with the payment gateway and which is settled with the merchant.
It is a specialized extension for B2B transactions because only a few payment gateways providers process Level II and Level III credit card data. The customer details are stored with a 3-tier high-security data center which is end-to-end encrypted card readers. Your customers don’t leave the e-commerce store and it is done on the checkout page for getting faster responses.
The extension just requires a username and password to start your online transactions. The Magento store must get a cheap SSL certificate to secure sensitive information about your customers.
Point of Sale
The payments can be processed with or without a card by an e-commerce store.
Mail and Phone
It has a secure customer storage vault and B2B interchange savings for the customers.
It has a developer-friendly API and secure website integration that makes it a great choice for developers.
Mobile PayTrace GO
It has a full virtually terminal functionality as it is 2-in-1 mobile solutions that allow swiped and keyed sales transactions.
It has web-based cash advanced systems for eliminating expensive and countertop terminals.
How is the PayTrace payment gateway a secure platform?
>> The entire payment is carried out through HTTPs web address which is more secure for the transaction.
>> The system uses a signed request from the merchant to validate the transaction request.
>> The IP address of the requesting server is verified to check for any malicious activities in payment pages.
>> Virtual Payer Authentication is implemented under the 3-D secure protocol which adds a layer of security that helps to authenticate the buyers and retailers easily.
Some important features of PayTrace Payment Gateway:
PayTrace works on more intensive authorization while performing Level II and Level III transactions. This is essential for businesses that accept corporate and government transactions.
PayTrace is not limited to regular online customer transactions but it is well equipped with B2B transactions, phone orders, and recurring bills.
It has certain fraud management options like the ability to add a limit on duplicate transactions, compulsion on certain details before completing the transactions, and automatically cancellation of unauthorized or failed transactions.
PayTrace has a range of reports for managing back-office. It allows viewing transaction details or receipts of payments for ten years and downloads the same information in spreadsheets and create custom reports. It lets you add custom data fields in transactions to store cash and check information with the sales report.
PayTrace supports the API integration guide and sample code for the developers. It processes in real-time and provides authorization in 6 seconds or less. API gives you shipping quotes, email receipts, store customer, transaction profiles, and process recurring payments.
Hosted Payment Page
Many small businesses prefer hosted payments when they want it quickly and avoid the heavy programming sector. PayTrace helps you easily and secure payment transactions online. It hosts checkout pages on the server and some service levels support customized payment pages where you can upload a business logo or background image according to the business requirements.
It has a wide range of features to make online transactions and convenience in business management. It has hosted payment pages, extensive API resources, sample developer code, fraud management tools for security, and custom reporting.
You can also look at some of the Magento Payment Gateway extensions that are growing e-commerce business. Well, you are now aware of how secure is PayTrace payment Gateway for 2021. PayTrace Payment gateway Magento 2 is the best combination for e-commerce platforms and grows them in the digital world. It focuses on building a secure bridge between customers and merchants. You can reach us anytime for knowing more about this payment gateway.