Get to know Payment Gateway and the Benefits of Using It

Online transactions are now increasingly being used by many people. However, did you know that for online transactions to run smoothly, we need a technology called payment gateway.

If likened to something, a payment gateway is a gate between sellers and buyers when making online transactions. You could say that this payment gateway is indeed very important so that all types of transactions carried out online can be done more easily.

In this article, we will discuss more about payment gateways starting from the definition, benefits, types, and how they work. So, check out the full explanation below!

So, What is a Payment Gateway?

Broadly speaking, a payment gateway is a technology system that authorizes the transaction process between merchants and buyers.

In the process, the payment gateway is tasked with validating the payment information made by the buyer, then sending a payment request to the relevant financial institution, and sending information to the buyer about the transaction status.

When making an online transaction, our expectation is that the transaction will be faster and easier. This is because, without a payment gateway, customers who want to make online transactions must transfer money through the bank first.

With a payment gateway, the transaction process can be done in various ways, starting from using a credit card, debit, or other types of payment systems such as e-wallets.

Benefits of Using Payment Gateway

Using a payment gateway will certainly provide many benefits for business owners. So, what are the benefits?

1. More varied payment methods

One of the main benefits of using a payment gateway is that it provides a variety of payment methods.

If you are already working with one payment gateway, merchants can accept various types of online payments such as credit cards, debit cards, QRIS and various other digital payment methods. With this, it will be able to attract many other prospective buyers to shop at your store.

2. Faster and easier transactions

By using a payment gateway, all transactions are done automatically so that the process becomes faster and easier.

Payment gateways are usually also equipped with transaction management that gives sellers access to manage payments easily. So, sellers can track payments, manage refunds, and oversee transaction reports.

3. Secured transactions

An excellent benefit of a payment gateway is that the transactions are secured. The payment gateway transaction system has multiple layers of security and uses strong security encryption to protect data, including credit cards. So you don't have to worry about crimes such as skimming, data theft, and others. With this, you can provide a sense of trust for your customers.

4. Broader reach

Some Indonesian payment gateways already provide support for foreign transactions. This allows merchants to transact with customers in different countries. So, there are no more country barriers when someone wants to buy your product.

How Does the Payment Gateway System Work ?

Basically, a payment gateway system serves as an intermediary between a seller's website and a financial institution, and processes payment transactions made online. Although it sounds quite complicated, the way a payment gateway works is actually quite simple. Here are the steps:

The buyer selects the product or service they want to buy, after which they are directed to the payment page.
The buyer fills in the payment details and then the seller's website sends the payment data to the payment gateway.
Thepayment gateway encrypts the payment data to protect any information provided.
Thepayment gateway validates the data information provided.
When the transaction is accepted, the payment gateway sends a request to the bank to send funds from the buyer's account to the seller's account.
The bank then responds to the transaction
When the transaction is accepted, the seller's website receives a payment confirmation and completes the order process.

Bersama Payment

Bersama Payment is a service from Artajasa that can integrate billing provider payments with collecting agents, so customers can pay their bills at the nearest collecting agent . Bersama Payment currently accommodates many types of payments, such as insurance, multifinance, public utility, telecommunication, and donation.

By using Bersama Payment, you will get various cooperation services in the form of; online and realtime payments , special gateways for billing providers, customer support, reconciliation operations, settlement according to the desired bank, and implementation guides (PKS, SPP, UAT, TO to Live).

If you want to join Bersama Payment service, contact us via email bersama.id@artajasa.co.id