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Welcome to the gateway of seamless transactions! Do you want your business’s payment experience to be revolutionized? Then you do not have to look any further team has got the best developers who will provide solutions on payment gateways based on your specific requirements. Our development ranges from smooth transacting systems to sound handling of payments thereby producing strong and friendly platforms that take your business to higher levels.
Forget payment problems for an easy, efficient, improvedly protected transaction atmosphere. Our developers can create tailor-made payment gateways for your own company if you wish, whether you are a beginner or an experienced specialist. Just collaborate with us for payment handling reengineering. Fast and reliable–this is how we define ourselves at Areus Technologies. Our developers are ready to create a custom-made payment gateway solution for you.
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The Payment Gateway software is a versatile technology solution that connects different players in the payment ecosystem acting as a medium. It allows web-based firms to receive money through multiple ways like credit cards, debit cards, mobile wallets, and cryptocurrencies. At the same time, it ensures that security standards and standards of compliance are observed throughout any transactions.
In addition to transaction processing, Payment Gateway software plays the essential role of being the main point at which a customer's payment request meets the appropriate financial institution that is tasked with allowing or settling such payments. For example, it authenticates whether the payment details are genuine ones and helps in the encryption of important information while at the same time managing to transfer money smoothly hence taking only a few seconds.
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The anticipated expenditure of online borrowing across the world by 2023 is estimated as $1.385 trillion, however by 2032 this figure will leap to $23.110 trillion as articulated in a report by Spherical Insights & Consulting with a growth rate of more than 32 percent per annum. .
It is estimated that the market will grow at a Cost-Quirk rate (CAGR) of almost 13% between 2021 and 2028.
In 2022, the total amount of money spent on global e-commerce was around $10.52 trillion.
Online payments were $6.28 trillion that year which changed the field of electronic cash irrevocably.
It is anticipated that the Asia-Pacific is going to be with the highest rate of change in the future.
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Payment Data Security
We deal with a large number of daily transactions and consider payment data security as the most important aspect of our daily activities. Cyber threats have increased by 25% in the past year only a signal of the vital need to enhance security measures. Besides, because of changes in compliance standards, it is punishable with fines not exceeding $500,000 incurred as of one month. Remembering, we have to keep investing in security mode and not forget that PCI DSS 4.0 among other things must be a core requirement for our payment gateway.
Scalability Challenge
We have grown impressively and our transaction volume has increased by 35% in the last quarter. However, it is becoming a challenge for us due to this rapid expansion since we now have over a million transactions processed every day. This means that it is very important to have a stable infrastructure that can support such traffic without going down. We expect to achieve a 50% growth rate next year but if we do not have strong scalability measures in place, then we could end up losing some of our customers because of service interruptions.
Payment Method Integration
Our clients operate in 20 countries and require a range of payment options to cater to their clients. It may take much time to integrate these methods starting from credit cards to local e-wallets. Integrate each payment method required approximately an hour last year according to the average rate of one thousand hours spent when integrating new methods during 2020. We should involve extra stuff because five more styles have been requested by customers this quarter hence cutting down on duration during high-service quality periods.
Improving User Checkout Percentage
Even though our customers keep increasing now and then, we have observed that complexity is the main reason why 30% of users opt out during the onboarding process. This translates into an estimated revenue loss of around $250,000 in the past year. Enhancing the onboarding experience is crucial for our company’s financial health, and we plan to cut the drop-off rate to 10% before the end of another three months.
Secure Transaction ProcessingDuring payment processing, sensitive data is strengthened by payment gateways that utilize cutting-edge encryption mechanisms and robust security protocols such as Transport Layer Security (TLS).
Multi-Platform CompatibilityTo make this efficient, they ensure that customers can pay online, via mobile, or even require a card reader by following these flexible compatibility criteria.
Multiple Payment OptionsPayment gateways portray a diversity of payment methods such as credit cards, digital wallets, bank transfers, and cryptocurrencies among many others.
Biometric AuthenticationFor secure and convenient payment authorization, implement biometric verification, which it involves the usage of fingerprints and facial recognition.
TokenizationTo boost safety and lower PCI compliance field, use tokenizing to replace sensitive card data with individual tokens.
Real-time Transaction MonitoringEssential is the implementation of advanced fraud detection algorithms and real-time transaction monitoring mechanisms, which serve to build a secure, resilient payment ecosystem.
One-Click Checkout Simplify the check-out process by offering one click for registered customers, decreasing cart abandonment.
Fault TolerancePayment gateways have fault-tolerant systems to maintain the service without disruptions. For purposes of increasing the system availability, data centers are equipped with redundant hardware and failover mechanisms.
Subscription ManagementProvide state-of-the-art subscription management tools used by firms or businesses to automatically bill the customer in recurring transactions as well as to facilitate any modification of subscription plans.
Dynamic PricingEnable companies to set bespoke prices concerning their clients’ conduct, whereabouts and prior dealings.
Fraud ProtectionGet hold of advanced fraud detection systems to assist in spotting and stopping fake transactions to increase the level of security.
Cross-Border PaymentsSupporting competitive exchange rates with multiple currencies and promoting cross-border payment.
Two-Factor Authentication (2FA)During the verification processes of payments, Payment Gateways utilizes 2FA methods like one-time passwords (OTP) or biometric verification to boost security.
Multi-Currency SupportWhen you buy internationally, you can pay using various currencies with accurate pricing because they will be converted.
Integration SupportPayment Card Industry Data Security Standard (PCI DSS) CompliancePayment Gateways adhere to PCI DSS standards for data security at the highest level. This means that their data is securely stored and encrypted using a strict process, alongside continuous security audits.
Recurring PaymentsAssist vendors in the establishment and overseeing of regular payments for subscriptions or permanent memberships through automatic billing and payment scheduling.
Peer-to-Peer PaymentsMake it so that users can send money to other people without having to go through any intermediaries, and thus make personal transactions easier.
Digital InvoicingEasily request payments for businesses by generating and sending digital invoices that contain payment links.
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