Purchase — is the most intimate moment of dating a user with an online store. Let’s look at how this process usually happens. The payment system is a way to carry out transactions or the payment of goods and services via an electronic medium without the use of cheques or cash. It’s also called an electronic payment system or an online payment system. Read on to learn more.
The electronic payment system has grown in recent decades due to the increasing spread of Internet-based banking and shopping. As the world progresses more with technology development, we can observe the increase in electronic payment systems and payment processing devices. As they increase, improve and secure online payments, the percentage of cheque and cash transactions will decrease.
Read more: E-commerce development
One of the options is bank transfer and payment to a bank card or account. Then the user purchases the goods on a prepayment. In these cases, the integration of the online store with payment systems does not happen — you track payments «manually», and on the site just specify the bank details.
Online payment system development
In ancient times people paid with skins of beasts, shellfish cowry, cocoa beans… Until quite recently such a concept as «electronic translation» did not exist at all, however, like the Internet. Progress does not stand still, and technologies that have long been working in Europe and the US, have begun to learn from us. Online payment system integration of shops is inevitable due to the active development of mobile marketing. Availability of gadgets users and integrate the shop with a payment system — is the key to successful trading in the near future.
Advantages of an online payment system for a store owner?
As you can see, in both cases of payment «on the spot» in a favorable position is only the buyer. If the goods do not suit him, he can easily not take it (and therefore not pay). And nobody cares how much money and energy you spent, say, on the transport of goods from another city, or even the country. That is, paying for products through the payment system gives you the opportunity to protect yourself from this kind of trouble.
Read more: Banking software solutions
In the case of bank transfers, you also sell the goods on prepayment but doom yourself to extra work on tracking payments. And integration with the payment system will simplify the sale process for you.
But what if I don’t want to link the site to money?
It is not necessary to do this. The fact is that the site, in this case, will not deal with money. Finance will pass through special gateways of payment systems that transmit payment data to the site. The Internet resource only records whether the payment was made. Gateways or aggregators work with several payment systems and connect the buyer, his payment system and your account.
Connecting each payment system to the site is a time-consuming process. For work with each of them, it is necessary to develop the interface. Therefore, it is much easier to combine the site with payment systems through aggregators.
Development of a pay system: how it works?
Purchase occurs through the payment system in the online store as follows:
- The order is placed under a unique number.
- Buyer is redirected to the site of the system; the order data is transferred to the payment system.
- The buyer chooses the form of payment, enters the necessary information.
- Data is checked by the system; the transaction is carried out.
- The user is redirected to the store’s website; the server receives information about the result of the operation.
The payment gateway, as a rule, consists of several parts:
- A form of payment — the page on the seller’s website.
- Payment page.
- Payment status page.
- Payment result page.
Read more: ATM design & software
Online payment system development: a flexible approach
We work on a methodology that is convenient for you: Waterfall + iteration, SCRUM or Agile. We are not afraid of changes on the go and are ready to provide timely communication and information about the stages of the project. If desired, we provide access to the Git version control system and the task-tracker. Each client receives a personal, competent project manager who is able to answer most questions. If necessary, a meeting with the participation of specialists and programmers is possible.